All you need to know about referral marketing!

Referral marketing – Your website may not be the centre of universe, but your customers are and they can turn your nothing to something!!!

Referral marketing is all about tempting your current customer base to refer your brand to their friends and among their community. This is the simplest form of marketing activity. We, humans, tend to believe in the reviews shared by friends and family before buying a product. Many times, We purchase a product on seeing stranger’s reviews shared on websites. So, it is very transparent that referral marketing is an effective way of improving your business.

Why?

1. Cost-effective
2. Powerful
3. Trustworthy
4. Multiplication of loyal customers

Types of Referral marketing

1. Offline referral marketing
2. Online referral marketing

Offline referral marketing is nothing but word-of-mouth marketing. It differs from online marketing in the way of sharing the content from offline to online. The major problems that businesses face in offline referral marketing are toughness in measuring some metrics and the money they need to spend to gain the exposure.

Digital marketing companies provide the services of online referral marketing that uses various forms of internet marketing to gain endorsements.

Three best ways of online referral marketing

• E-mails
• Social media
• Direct referral through websites

Referral marketing through e-mails

The best and easiest way to boost referrals is through email referrals marketing. An optimised email sequence can capture attention and can ease the referral process.

5 ways to frame an optimised email

1. State the advantage they gain in referring your brand.
2. Use eye-catching images with clear cut details.
3. Set up reminders.
4. Stick to an appropriate timing interval for sending follow-up emails.
5. State the reason to share your brand that benefits both of you.

Social media referral marketing

Social media referral marketing enables customers to share their views with people all over the world. This plays a major role in purchase decisions.

Survey results prove that

• 86% of women will have a glance at social media before making a purchase.
• 40% of customers spend more on brands that engage them on social media.

How to make an effective social media referral marketing?

1. Explore Influencer marketing where you can reach out to influencers who have a strong popularity and fan base.
2. Weave a story around your product.
3. Live sessions regarding your product or service can boost your customers to do something.

Direct referral through websites

Gaining customers with referrals through websites is the primary technique that every business website would go for. It’s like delivering at your doorstep process.

What should you do?

1. Include social sharing widgets in your dashboard.
2. Announce a referral reward that adds to their bag or cart.
3. Include sign-up programs with few and customised steps.

Apart from these basic three techniques, there are various other ways to build your referral program and strategies. It varies according to the customers and the kind of businesses you are into. Think deep, start building your referral program strategy and conquer loyal customer base.