The significant boom in the eCommerce businesses globally during the Covid-19 pandemic has helped in the development of unique marketing tools. But the traditional tools are still effective, one of them being the referral programs. Indeed, referral marketing is one of the most impactful ways to boost the led generation.
Every business owners know that there can be no better brand ambassador than happy customers. In today’s world, where customers are constantly facing alluring messages and campaigns for trying new products, the only way to trust a company is to listen to the recommendations.
Power of referrals
Referral marketing is a well-organized process where your customers will get rewards for spreading the word about your products or brand. While the traditional marketing tactics target a general audience, referral marketing will use the company’s existing customer base to generate potential leads.
Undoubtedly, the impact will be deep.
- Generates better brand awareness
- Growth in the target audience instead of general audience
- Authentic channel to interact and engage customers
- Boosts the number of loyal customers
- Can integrate other forms of marketing policies
- A cost-effective strategy for marketing
Setting up an effective technique
Have you invested all your money in marketing but still not found people talking about your brand more than ever? There must be something lacking in the campaign. It is not necessary to spend a lot of money to get the desired result. Why don’t you try the referral marketing process for incredible results? Here are a few tips to prosper in the process further.
Tip #1: Concentrate on manufacturing exceptional products
Enough of racking through the boring technical stuff. It’s time to get logical and practical. To kickstart a successful referral program, you have to satisfy your existing clients first. Offering anything less than the best to the customers will negatively affect the referral marketing plan.
- Study the reviews of the consumers and find out what more they are expecting from the product.
- Incorporate the possible modifications and upgrade the product.
- Manufacture the extraordinary products and launch the new version.
- Existing customers will be delighted as they already know and appreciate the previous version.
Building customer trust is crucial. Unless you design the best quality items, you cannot expect the customer to recommend the product.
Tip #2: Design user-friendly and easy
Existing clients will love to avail themselves of the referral programs when it will be super easy for them to take advantage of your opportunities. If the process of referring your brand to a friend is complex, customers will give up quickly. So, you have the risk of losing potential customers and additional profits.
- Check out the successful and most popular referral marketing program examples to see how and why these worked.
- The process of referring friends should be easy. Moreover, if you provide the steps of doing the job right beside the link, there is hardly any factor that can stop the customers from grabbing the offers.
- Plan out a super easy loyalty program too. It will encourage the customers to remain faithful to the brand and avail of the advantages.
It is not an easy task to keep the customers happy. There are many brands already present in the market to give you fair competition.
Tip #3: Focus on preferences of customers
The next important aspect of any referral marketing program is to understand the customers. Building a successful program for a company needs a thorough study of the brand and the perception of the customers towards the product.
If your loyal customer recommends the brand to a friend, why will the friend buy the product from your company? The potential customer may get better offers for the product from other companies.
- You can offer flat cashback to the existing customer and also provide a handsome discount to the person availing of the referral. This is going to be a marketing gem.
- Just as you concentrate on satisfying the existing clients, you should find measures to please the new customers.
Rewarding both parties is a smart move as it can result in higher turnovers, especially when you are selling products like apparel and clothing.
Tip #4: Ensure offers are not appearing as spams
The email notifications, pop-ups, and chatbots can help the customers to know about the offers in detail. But they can also get in the way of impressing the customers.
When a customer is visiting the website of the company in the middle of a shopping spree, these elements can actually slow down or even drive away from the customers, causing frustration. And you should take this into account seriously.
- You need to find an alternative solution s that the pop-ups do not disturb the mood of the customers. Rather than designing the big pop-ups that will show on the entire screen, arrange for the neat little buttons.
- If you make the notifications optional for the purpose or place them in a way to draw the attention of the visitors without blocking the entire view of the website, it can be effective.
It will also prove that the visitors clicking on then pop-ups or notifications are genuinely interested in your brand.
Tip #5: Integrate the Product review System
New customers always like to know about the experience of the existing customers. The insights and opinions of practical users of your product will be a more reliable option to the new potential customers than your sales pitches.
- Positive online reviews will help to build the online credibility of the brand.
- Potential customers will get the encouragement to buy the product after reading the positive experience of the existing users.
More reviews also mean that there are numerous users of the brand. And they have strong opinions to share them online. More positive reviews definitely boost the chance of conversions.
Tip #6: Tracking the referral program
If you follow the best growth hacking marketing blog, you will learn that it is impossible to measure the impact of a marketing program unless you have a tracking system. A good referral program software will do this job in the best way.
If you can understand that the policy is working, you can plan further. Or you can modify the offers based on the reaction of customers. Otherwise, it will be more of losing revenues if you are not getting enough recommendations and conversions.
Tip #7: Customizing offers
Why not allow the referral programs to run for a longer period? Of course, the idea can bring in boredom for the clients. So here is the updated plan.
- Keep on changing the benefits of the recommendations. Sometimes, offer cashback, sometimes there are these discounts, and sometimes, you can even offer free products.
- Such changes make the customers wait for the new offers. Every time they avail of the offer, you get a new recommendation.
- The higher conversion rates show that people like offers and try various products if the offer seems interesting.
Precisely, if you can design a referral marketing plan that covers the benefits of both parties, it will finally lead to the benefits of the company. It is not easy to gain an edge in this competitive world. But the process won’t be too difficult if you know how to apply the marketing agendas.