A referral program is a method that can reward your customers that have referred to friends and promote your product or service. Typically it’s also one of the ways to get your business to get potential leads.
Besides collecting customers’ feedback surveys or reviews, we can also let customers go through this program to share their brand experience with their friends, colleagues or partners. According to Hubspot, most of the 20-50% purchasing decisions are made up from word-of-mouth referrals.
A cost-effective marketing strategy
Referral marketing is relying on word of mouth and your current customers. So that can decrease your costs of advertisement. Not to say, recommendations by a customer can be more persuasive than ads you promote.
Increase brand reputation
Using referral marketing methods can help customers know about your company or brand background and improve your company’s reputation. If your customer has good experiences during the purchase of your product or services, they’ll also refer to their friends.
Gain loyal and valuable customers
A referral requires a sense of trust to create loyal and valuable customers. Besides, they can also stay with your business longer than a new customer. Based on Wharton School of Business’s findings, referred customers attain 16% – 24% more loyalty on average than others.
Exactness targeted sales
If you feel it’s annoying to get the right audience for your business, no worry, referral marketing could be the key to your success! Around 14% of the customers who visit your referral page will convert, it has a higher rate than most digital marketing strategies. If your company has been referred by your current customers, the new customers they referred will also be a valuable target audience for you.
Remember to say thank you to referrers and referees for joining!
Of course, we would also like to express our gratitude to you when you refer a friend to us! You will receive rewards or earn extra income by just referring your friends to BigDomain. Refer a friend of yours who is interested to have their own website to BigDomain, and you’ll receive a 5% cash reward (for every successful purchase)! What a good opportunity! We welcome everybody to join our Big Family!
Want to get more info? Feel free to contact us today!