You found something amazing, and just can’t stop talking about it? Get rewarded for it!
You’ve got the best product ever, and want to reach more leads? Get your clients to brag about you!
What is referral marketing?
First things, first. What exactly is referral marketing and why is it so beneficial for both companies and clients?
Referral marketing is a marketing strategy that bulk mail masters involves the active participation of your clients.
This kind of marketing strategy is mutually beneficial as both clients and companies help each other grow and increase their client base.
The client commits to sending out referral links (typically exclusive) to find new customers for the company, and in turn, the company offers the client incentives in the shape of rewards, discounts, special offers, etc.,
This kind of marketing is growing exponentially. We’ve all been browsing social media and spotted our favorite influencers offering a special discount when using their code for the product.
For it to work the business has to build strong relationships with its clients. You want your clients to reflect the nature of your business. So make sure you follow through with your promises, have a solid product or service to offer, and have a dedicated team to solve your partner’s doubts.
Why choose a referral marketing strategy? Check the stats!
60% of small businesses’ revenue comes from referral programs
82% of new clients for small businesses come from referrals
Referral program vs affiliate program?
Referral and affiliate programs essentially work under the same principle: use an exclusive link or code to build the business’ customer base.
Benefits for the business
The first and most obvious benefit (which is also the how were targeted observe how main purpose) of referral and affiliate programs for businesses is achieving higher outreach.
But what else can you achieve with a well-laid-out referral program?
- Increase your client base
Referral programs lean on their existing client base to reach new customers. Since referred customers are often pre-qualified and more likely to convert, referral programs can lead to a higher customer acquisition rate.
The more clients de referrer brings, the higher the reward (for everyone )
Benefits for the referring client
When, as clients, we spot a new referral program japan data or are offered a paid partnership, the first benefits that come to mind are obviously rewards and discounts, and being showered with gifts.
And, yes, these benefits are awesome, since we would be looking at: