[In the Know] Referral Marketing Best Practices
When it comes to growing businesses, relationships matter. In fact, 82% of consumers seek recommendations from their networks before making purchasing decisions.
How can marketers harness the power of relationships to build better business strategies? The answer lies in referral marketing programs.
In my latest guest appearance on In the Know, I’m sharing five best practices you can employ to build and execute the best referral marketing campaign possible. Check it out below!
If you want to learn more about how you can harness the power of referral marketing to drive sales, join us for an exclusive conversation with Content Marketing Institute on May 6th at 2pm ET.
Hope to see you there!
Amity Kapadia: Hi, I’m Amity Kapadia, and I”m back to guest host another episode of In the Know with Intrado. Today, we’ll be talking about referral marketing and 5 best practices that can help your brand drive revenue.
Research has consistently shown that customers, in both B2B and consumer good markets are not only willing to refer businesses to their network, they’re actually looking for new ways to do it. In fact, 82% of consumers seek recommendations from their network before making a purchase. From refer-a-friend programs to customer referral campaigns, a well-built marketing strategy can actually increase brand awareness while at the same time boosting sales through existing customers and new referral traffic.
So how can marketers leverage referrals in order to increase sales? Here are 5 best practices.
Number One: Your referral program should be easy to find. Make sure it’s featured on your website, newsletter, and even in other marketing promotions.
Two: Be transparent with the processes and information you gather. Let your program members know exactly how they can join the program and start earning, but also, share exactly how you’ll be using the information they provide.
Three: Know what your customers want. This is probably the most important part of planning your strategy. Understand what drives your customers to make a referral. Is it a free coffee, a gift card, or just cold-hard cash?
Number Four: Ask at the right time. Whether it’s at the moment of purchase or after a support call, ask for a referral when your customers are the happiest with your service.
Five: Invest the time and resources necessary. In order to truly scale your referral marketing efforts, your business has to treat it just like any other marketing initiative. That means dedicating people and automating processes in order to optimize and see the best results.
To learn more about how a referral marketing strategy can boost sales, join us for a webinar with Content Marketing Institute on May 6th at 2 PM Eastern. Experts from Ambassador will be sharing how to introduce relationship marketing programs to your customers, proven ways to engage current customers and drive referrals, as well as real-world examples for both B2B companies and consumer brands. Register using the link below.
Thanks for turning in to this episode of In the Know. I’m Amity, and thanks for joining.
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