Another advantage of the referral marketing program is that it is easy to do. It can be in the form of unique codes, attractive coupons, or other incentive prizes. Then you only need to give rewards or prizes to customers for their services in referring your business to other people. The main key is to make this program easy, attractive, and also useful for customers to share it with others.
Marketing Program for Your Business
Did you know that referral marketing programs generate leads and sales through the power of “trust”? Nielsen says that 84% of customers trust referrals from Investors Email Lists friends, family or other people they trust more than other information from people they don’t know.
It is from these recommendations that machines or leads are created that push various products that they might like and buy. Not only that, the results of this strategy can also be easily measured. So you can find out the number of new customers, who has successfully recommended your business, and how many products and/or services have been sold.
Without realizing it, this referral marketing program
is very important for the continuity and development of your business. Apart from not requiring a lot of money, with this program you can increase customer lifetime value figures, minimize customer acquisition costs, and get new customers.
A data reported by Hubspot states that customers who refer your business to other people will bring 30% higher conversion rates, increase customer lifetime DZB Directory value by up to 16%, and customer retention rates reach 37%, compared to other marketing channels.
This customer reference program can also help you to broaden your audience reach that you may not have thought of before. The advantage for customers who share is that they have the opportunity to get special prizes. Call it like discounts, cashback, incentive points, and many other digital rewards.
