Four Tips for Implementing a Referral Marketing Program

 

 
There are a variety of reasons why you should consider implementing a referral marketing program. Consumers often trust recommendations over advertising, according to a Nielson study. For this reason, more businesses are using referral marketing programs. Some of these strategies include branded mobile apps, automated push notifications, and a drag-and-drop email builder. Regardless of the type of program you choose, here are four tips to get your program off the ground.
 
First, you can start with email marketing. Email marketing is a great way to inform customers about your referral program and encourage them to refer friends and family. In fact, most referral marketing tools automatically insert the referral code or link into your emails. Emails sent to customers about their purchases have the highest open rates, at around 18% and 60%, respectively. As a result, many people are receptive to receiving emails with their purchase confirmation codes. Additionally, 20 percent of consumers are open to joining a customer loyalty program if their email address is listed on their receipt.
 
A referral marketing program is reliable and help reward the brand advocate. Brand advocates are the people who influence their friends and family to buy a product or service. It is important to ensure that the incentive aligns with the brand or business. To design a successful referral program, consider the following questions. Your referral marketing program will be most effective if it rewards brand advocates and creates a positive impact on both parties. There are several reasons why a referral program is important.
 
Referrals are a powerful source of sales. If your customers are recommending your brand to their friends, it is likely that they'll become loyal customers. And if they've been happy with your products and services, they'll tell their friends about your product. That's what referral marketing is all about. By rewarding brand advocates and existing customers, you increase the likelihood of them becoming brand advocates. There's no better marketing channel than referrals.

This link: https://en.wikipedia.org/wiki/Marketing_strategy will open up your minds even more on this topic.
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