Referral Marketing

Referral Marketing Program: Everything You Need to Know About

Pinterest LinkedIn Tumblr

 Everything You Need to Know About Referral Marketing Program

Referral Marketing Program: Everything You Need to Know About
Referral Marketing Program: Everything You Need to Know About

From the past few years referral marketing has been acquired by many top brands and this is really helping them to grow faster than any other strategy for their business.

In Digital Marketing world when you plan about growing business online than you can’t ignore the referral marketing program.

Referral marketing program has helped several businesses to engage their customer and have helped them to retain their customers.
Many of the businesses are far away from referral marketing but in the coming years it will be necessity to bring loyal customers on board.
Referral Marketing Program: Everything You Need to Know About
Referral Marketing Program: Everything You Need to Know About
If you want build your brand or grow your online presence than you should not forget the referral marketing program.

What is referral marketing?

Referral marketing is when you get your customers to tell their friends about you.
This is a way of making fan following, creating a list of customer by obtaining support from specific sources or this is way getting referred your business to your customers friends
According to the New York Times, 65% of all new business comes from referrals. That means on average, two-thirds of consumers make purchases because someone they know recommended a particular product or service.
In normal words Referral marketing is a technique of promoting your products, services or your businesses to your friends.

How Referral Marketing help you in your business

This is great way promoting your brands organically without spending much on Advertisements. You just need to make great referral marketing program that engage your existing customer. The program should help retaining your customers and help you bringing new customer
 
 
Why should you use referral marketing?
Because you are human being and you always share your happenings and experience with your friends. When your friends recommend something to buy a product you definitely buy that and that’s referral marketing.
  • 92% of consumers trust referrals from people they know – Nielsen
  • People are 4 times more likely to buy when referred by a friend – Nielsen
  • Consumers rely on word-of-mouth 2-10x more than paid media. – Boston Consulting Group
Following are the few reasons to use referral marketing-:
  • It saves your marketing budget
  • It retains your customer and acquire new customer
  • It is user friendly and customer centric marketing strategy
  • It engages customers and gives them benefits to retain with the brand
  •  This way you not only save your money but also bring new customer.
Referral Marketing Process
Any referral marketing program depends on the product, service, nature of business and its type of customers.
Let’s discuss few things about referral marketing process-
  • Discuss with your sales and marketing team about the customers
  • Understand the customers behavior and trends of the business in your industry
  • Draw a plan with sales team about what they can offer to a customer if that bring another customer
  • Discuss the finances with marketing team and chalk out the promotion plan
  • Make digital marketing plan to advertise your referral marketing program
The success of referral programme depends on the sales and marketing team. You need to plan the great rewards, offers, discounts or cash back offers to bring more customers or retain the existing one.
 
I will discuss the details of Referral Marketing in next article. Happy Reading.
 
 
You can explore more about different blog post at thedigitalchapters.com
Author

Experienced & result oriented Marketing Leader and A Seasoned Digital Marketing Professional with 14+ years of work experience with a strong focus on the key business metrics including Revenue, Profit, Demand, Traffic, Site Conversion, Retention, and Engagement.

0 0 vote
Article Rating
Subscribe
Notify of
guest
92 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
Unknown
2 years ago

Thanks a lot very much for the high quality and results-oriented help.
I won’t think twice to endorse your blog post to anybody who wants
and needs support about this area.

Digital Marketing Course In Chennai
Digital Marketing Training In Chennai
Seo Training in Chennai

Suruchi Pandey
2 years ago

You really touched some great points here, and I am certain that it might be beneficial for many of the seekers who are in the stream of marketing. Continue sharing this considerable details and keep us updated with your knowledge.
Website Design Company in Lucknow | Website Redesign Services

Unknown
2 years ago

Thanks for sharing such a great information, Hope you will publish more.
I really appreciate the blog
Please publish more blogs like this
To know more about Digital Marketing do visit the below mentioned Link-
http://edudelphi.com/ae/digital-marketing-course-dubai/

Unknown
2 years ago

There are many ways to create a website but however with certain restrictions. Best way I would like to suggest is to know the basics of web designing with html and css and then start creating the website of you choice. #www.bynd.co.in

Coepd BA Trainings
2 years ago

Coepd – (Center of Excellence for Professional Development) provides Digital Marketing internship program in Hyderabad from industry expert Mentors. We deem in real time practical training, we guide students through real-time project examples and assignments, giving credits for Real-Time Internship in our training course. Further, Coepd provides advanced digital marketing coaching with certifications catering to Corporates, Individuals, and Educational Institutions. Our digital marketing certified mentors guide our learning people through modules of Digital Marketing in an exhaustive manner. Our collaborative ecosystem comprising of Partnerships with Software Companies enables real time digital marketing experience.

http://www.coepd.com/DMTraining.html

Pin It
92
0
Would love your thoughts, please comment.x
()
x