A Definitive Guide to Referral Marketing Programs

1. SecretstoBuildingaSuccessfulB2B2CGrowthFlywheel?LiveWebinar Saveyourspotnow Latest Latest Consumer&Loyalty Consumer&Loyalty CorporateGifting CorporateGifting DigitalGifting DigitalGifting Events&Webinars Events&Webinars Experiences Experiences GiftC GiftC Home ❘  Marketing AOne-stopGuidetoReferralMarketing WrittenbyNehaSurana The goal of a referral marketing program is to leverage the power of word-of-mouth marketing to attract new customers and expand the business's reach. By incentivizing customers to refer others, businesses can tap into new networks and acquire new customers cost-effectively than other channels. A brand attains its apotheosis when it slides into the vernacular of a generic noun. Take Google for example. Many companies came up with their own browsers but Google went on to become (and still is) the most renowned, reliable, and robust search engines in the world. Not just that, their popularity was so widespread that the word “Google” became a substitute for the verb “Search”. Jacuzzi, Band-Aid, Dumpster, and Kleenex are a few more to jump into the bandwagon. Now,that’sthekindofimpacteverybranddreamstocreate—beyondmakingmoney. Thatmomentof‘universalacceptance’definestheultimatesuccessofabusiness. Butcreatingthat‘impact,’whereyourcustomersgotoanextentofusingyourbrandname naturallyasaverbtakesimmensemarketingefforts,patience,andpersistence.Abrand’s journeyfrombeinganountobecomingaverbisn’teasy.Mostimportantly,itdoesn't happenovernight. Speakingofmarketingefforts,althoughthecurrenttechnologicaladvancementsgive youtheconvenienceofexecutingyourbrandpromotionsinvariousways,referralsare stilloneofthehighestformsofflattery.Handsdown,theyareaneffectivewayto acquirenewcustomerswithminimal(orno)marketingeffortsandspend. English

2. Manybrandshaveleveragedreferralmarketinginthepastandhavewitnessedsuccess.Manybrandshaveleveragedreferralmarketinginthepastandhavewitnessedsuccess. Don’tbelieveus? SecretstoBuildingaSuccessfulB2B2CGrowthFlywheel?LiveWebinar Saveyourspotnow Let’stakeAirbnbforexample. Thebirthof‘airbnbing’wassimple—theideawastogetpeopletostayinaneighborhood flatovernightortoborrowafamily’srollawaybedduringtravel.Withthissimpleintention inmind,theyincreasedtheirguestarrivalsfromjust21000(in2009?toawhopping1? billion(in2021?.(Source: AirBnB? Sohowdidthisborn-out-of-necessitybusinessmakeallitswaytofame?Orperhaps, whatmadeAirbnbabillion-dollarbusiness? Anyguesses?? Well,it'sbecauseofawell-planned,well-timed,andwell-executed‘referralmarketing program.’ Referralmarketingisoneofthemostcost-effectivegrowthchannelsforabusiness. Period. Tohelpyoumakethemostofthismarketingstrategy,wehaveputtogetheradetailed guidethatexplainsthebasicsofreferralmarketing,lessonstolearnfrombigbrands, mistakestoavoid,tipstocreateasuccessfulreferralprogram,andmore. Let’sdivein. Whatisreferralmarketing? Referralmarketingisatechniqueoramarketingchannelthatenablesloyalcustomers andadvocatestoreferabrandtotheirnetworkinexchangeforrewards.?Source: Shopify) Areferralisaninfluencerwhoadvocatesfornewunder-the-radarbusinesses, whetheronlineoroffline. Marketingistheprocessofacquiringandengaginganaudienceuntilconversations culminateintosales. English

3. Holistically,Referralmarketingisaboutharnessingareferral'sinfluencetogenerateHolistically,Referralmarketingisaboutharnessingareferral'sinfluencetogenerate excitementaroundbusinesses—itcouldbe‘one-to-one’or‘one-to-many.’ SecretstoBuildingaSuccessfulB2B2CGrowthFlywheel?LiveWebinar Saveyourspotnow Howdoesreferralmarketingwork? Apersonrefersyourproductsorservicestotheirfriends,family,audience(inthecase ofinfluencermarketing),contacts,etc.Therefereebuysthesaiditemorserviceforthe processtoendsuccessfully. Let’sunderstandreferralmarketingwithareallifescenario.Let’sassumethatyouwantto buyabrandnewwashingmachine.Rightafterexploringsomeoptions,you’llcheckoutall thecustomerreviewsontheinternetandmightevenaskyourfriend(whoboughtthat productbefore)tosharehis/herexperienceswiththebrand. Yourfriendthenvalidatestheproduct,givesyouanassurancethatit’sagreatproduct, convincingandpersuadingyoutomakeapurchase. That’sreferralmarketinginanutshell. English

4. SecretstoBuildingaSuccessfulB2B2CGrowthFlywheel?LiveWebinar Saveyourspotnow Referralmarketinghassimilareffectsasword-of-mouth,buttheonlydifferenceisthat thecompanyinitiatesandmanagesit. Thisworksbecauseconsumerstendtotrustbusinessesmoreaftergettinga recommendationfromanotherperson,especiallyifit’ssomeoneclose.Infact,according toareportfromMckinsey,50% ofthepurchasingdecisionsareinfluencedbyreferrals. Agoodexampleoftheeffectivenessofword-of-mouthmarketingistheworld-renowned ‘Dropbox.’In2008,itonlyhad100Kregisteredusers.By2019,itgrewto600M,with 14.3Mpaidusers. English

5. SecretstoBuildingaSuccessfulB2B2CGrowthFlywheel?LiveWebinar Saveyourspotnow Partially,itwasaresultoftheirwell-timedreferralprogram.Anyonecouldinviteafriendto usetheirservice.Iftheinvitationwasaccepted,thereferrerwouldgetmorecloudspace. Howdoesreferrallookinaction? Toreferafriend,yourcustomerneedn’twearthehatofasalesrep.Iftheyarehappywith howyourbrandisperceived,theymightbeinspiredtotelltheirfriendsaboutit.Sounds simple,isn’tit? Thisishowitshouldbedone:Whencustomersareatthecheck-outpoint,askthemif theywouldbewillingtoreferafriend.Mostofthetime,ashout-outisfree.Butannounce a$30giftcardforeveryreferralandthey’llnotjustravebutwriteshiningreviewswith madenthusiasm. Howmuchinfluencedoesareferralhaveonnewbuyers? According to a McKinsey study, Word of Mouth Marketing influences 20% to 50% of purchase choices. Whileorganizationsinvestasignificantpercentageoftheirmarketingbudgetonlead generation,themajorityofnewcustomersrelytheirdecisiononpeeropinion.Thisonly suggestsonething.Referralsalesinvolvelittlefinancialinput,yettheygeneratealarge numberofverydesirablewarmleads. English

6. Referringafriendnowadaysdoesnotimplyencouragingacloseacquaintance,butReferringafriendnowadaysdoesnotimplyencouragingacloseacquaintance,but ratherinfluencingmillionsandsparkingamovement. SecretstoBuildingaSuccessfulB2B2CGrowthFlywheel?LiveWebinar Saveyourspotnow Thespurtofsocialmediahasblurredalldistinctionsbetween"referralmarketing"and "affiliatemarketing"tothepointthatthesetermsareusedinterchangeably. Today'schallengeisdeterminingwhichcustomerscanbebrandadvocatesandhowmuch toinvestinthem.Consideritasselectingacapableinfluencerfromaswarmtotalkabout yourbrand. Noteveryonecanbecometheidealadvocateyou'researchingfor.CRMshaveincreasingly beenthego-toresourceforthis.Businessesmayharvestvaluabledatafrompast transactionsandusestatisticalmodelstoforecastclientlifetimevalue?CLV?. Asuccessfulbusinessthathasagreatrapportwithitscustomerswillnotonlyreceive morecustomers,butbettercustomers. Referralmarketingisbestfueledamongacommunitywheretrustiskey;therehastobe somedegreeofconfidenceincustomers’motivationtotelltheirfriendsaboutyour business. Wefiguredoutthatitwouldbeperfecttoputinasingleguide,alltheinsightwemanaged togatherfromallthecampaignswehosted,andofferitforfreetoallthepeoplewhodig theideaofgrowingtheirbusinesswithreferralmarketing.Thisismoreasetofactionable tacticsthanitisanother“ultimateguide”.Enjoy! Sonodoubtthatreferralmarketingisoneofthemostcost-effectivegrowthchannels. Period.Leveragingyourexisting,loyalcustomerbasetobringinnewonesisasurewayto bringinnewusersandrevenueforyourbusiness.Whetheryou’regettingreadytolaunch yourfirstreferralcampaignorlookingtooptimizeyourreferralprogram,you’reintheright place. Youmighthavevariouschannelsyoucanoptforbutreferralmarketingistheeasiest waytoaccumulatemorecustomersforyourbusiness. Thepsychologyofreferralmarketing:Whyitworkslikeacharm It’sprettyboldtoclaimreferralmarketingalwaysworks,butwehavefoundittobetrue. Marketingmayseemdifficult,especiallyforbeginners.However,thesecretistopushthe properbuttonsinacustomer’spsyche. English

7. SecretstoBuildingaSuccessfulB2B2CGrowthFlywheel?LiveWebinar You can make the pickiest customer to participate in your referral campaign by: Saveyourspotnow 3. Making them think about their social status 1. Touching on their pain points to trigger action 2. Offering solutions based on real- life experiences Wehavethedriveforsocialbelonginginstilledintousautomaticallywhenwewereborn. Trust,socialapprovalandvalue,reciprocity,etc.areallveryimportanttousashumans. Theincentiveandbenefitsneedtobecompellingforapersontodecidetoparticipate. Itencouragesthereferrerstoputinsomeefforttogetarewardandrealizethey’llgeta socialadvantage. Theassessingfactorsaretheactualeffortrequiredandtheriskofthereferee's experiencebeingpoor,whichwillleadtotheoppositeofsocialapprovalandvalue. The6principlesofpersuasion AccordingtoDr.RobertCialdini, theauthorofthebookInfluence: The Psychology of Persuasion,thereare6principlesofinfluence. English

8. SecretstoBuildingaSuccessfulB2B2CGrowthFlywheel?LiveWebinar Saveyourspotnow Asmarketingisalotaboutinfluencingpeople’sdecisions,wearegoingtotellyoualittle bitabouteachofthem.Thesewillhelpyoupersuadeyourexistingcustomersandthey maydothesametotheirnetwork. Reciprocity:Gettingmutualbenefitandthefeelingofsomeonebeingindebtedtoyou, orontheotherhand,whensomeonedoesyouafavororprovideswithabenefit,you tendtofeelobligedtogiveback. Consistencyorcommitment:Forexample,youareaskedbyacompanytoleaveyour contactdetailstostayup-to-datewiththenews.Youdoit,andthisincreasesthe chancesofyoudoingitagainwhenthebrandasks.Anditwill,manymoretimes. Socialproof:Theysayweneedtogetoutofthestandardssocietymakesup,butall peoplestillcravesocialproofinonewayoranother.Wewantacceptance,andnot (only)frombrands,butmostlyfromthepeopleclosetous.Ifyoursiblingtellsyou she’striedanamazingservice,you’llbemoreinclinedtotryitaswell.Likewise,the personreferringtheproducttoyouwillfulfilltheircravingifyouliketheproduct. Liking:Continuingthetopicofhumaninteractions,peoplearelikelytotrysomethinga lovedonetried!Itcouldbeafriend,relative,partner,crush,orevenacelebrity. English

9. Hopefully,mostofyourcustomershavepeoplewholikethem,andhearinganhonestHopefully,mostofyourcustomershavepeoplewholikethem,andhearinganhonest recommendationfromthemwillbecomeatrigger. SecretstoBuildingaSuccessfulB2B2CGrowthFlywheel?LiveWebinar Authority:Hearingsomeoneknowledgeabletalkaboutaproductorserviceand recommendingitdefinitelytouchessomestrings.Byprovidingmoreinformationon yourproductsandservicesalongwiththeincentives,you’regoingtogetmore conversionsbecausethereferrerbecomesasortofauthority.Peoplearemorelikely tolistentotheadvicegivenbyawell-informedindividual. Saveyourspotnow Scarcity:Finally,theprincipleweseesomuchinadvertisements.Motivatingpeople todosomethingbecauseofthescarcityoftheofferworkslikeacharm.Thereaction iscalledFOMO(fearofmissingout),andpeoplemostoftenconvertquicklyduetoan understandingthattheproductorservicewillsoonbesoldout. So,whydoesreferralmarketingalwayswork?Becauseittouchesonthepsycheofboth potentialandexistingcustomersmorethanothermeansofpromotingbusinesses. We’regoingtoexplorethetopicfurthertogiveyouclearinformation. Benefitsofreferralmarketing:10Reasonstheyareeffective Referralprogramsareconsideredperfectforbusinessesofferingproductsand/orservices becausetheymaketheexistingcustomersfeelspecialandencouragethemtosharethe businesswithpeoplewhoareclosetothem. AnotherreasontotryreferralmarketingiscustomerlifetimevalueorLTV.Thisistheworth ofacustomertoacompanythroughouttheirrelationship.It’showmuchtimetheyspend withyou,andhowmuchtheybuyandengagewiththebrand. Herearesomekeybenefitsofreferralmarketing: 1. Leverages peer-to-peer influence In the era of consumerism, shoppers seek product advice from individuals who are already on their friends list. Here, referral’s WOMM (Word of Mouth Marketing) wields power over a significant slice of the market. Therefore, referral marketing is the only superior tool to change buyers' thoughts and overcome their cynical scorn for salesy outreach. 2. Elevates customer retention rate To go after a market that is new to your product, there is a need for more marketing money, marketers, and even more effort. The overheads are often sky-high, making brands question English

10. if it’s worth at all to prioritize new consumers over existing ones. SecretstoBuildingaSuccessfulB2B2CGrowthFlywheel?LiveWebinar While it’s something to be debated, marketers are already sitting on a heap of opportunities because referrals are capable of taking your value proposition to the uninitiated without costing money. This form of referral results in a higher retention rate than most other marketing methods. Saveyourspotnow 3. Shorter time to market When conventional marketing encounters a stumbling block, it is because it has less inertia. It lacks the persuasiveness to wow a larger chunk of the market in limited time. Referral campaigns, on the other hand, may be developed and implemented in the smallest amount of time because they do not necessarily involve sophisticated funnels and frameworks. What is the advantage of this? Customers who are deemed unsuitable for the sales persona might be exempted from the campaign. When time isn't wasted pursuing clients who may never return, it helps you explore even more intriguing opportunities. 4. Increases brand awareness As it’s called word-of-mouth marketing, it’s not difficult to realize that people are going to improve brand awareness by talking about your company to others. Even the percentage that won’t convert will still know about your business, continuing the chain of conversations. 5. More brand advocates Driving customer advocacy is crucial due to utter social distrust of businesses and marketing. Of course, no business will tell you their products are flawed. But having live people vouch for a brand, praising it, and recommending the right items and services are what most potential buyers are looking for. 6. Better CLV (Customer Lifetime Value) A referred customer is predisposed to return while also possibly becoming a referral to another. They provide so much value to a business that on an average, a referred consumer pays 15 to 25% more on their initial transaction. 7. Reduces CAC (Customer Acquisition Cost) Referral customers are usually cheaper for the business than completely new ones. The costs include the rewards to the existing customers (which usually pays off as well), the number of employees working on the program, as well as customer referral technology. English

11. SecretstoBuildingaSuccessfulB2B2CGrowthFlywheel?LiveWebinar 8. Easy to incentivize referral behavior Saveyourspotnow Tracking referrals is an invaluable way to see what makes them a firebrand. The information gleaned through referral behavior research is sufficient to decide what tailored hampers and experiences are more relevant. This would provide them with the impetus to spearhead advocacy. 9. Higher ROI and lesser expenditures Merging referral marketing with loyalty rewards will result in a high synergy effect that will greatly reduce the overhead cost and time. Because curating and running a reward program is less expensive than running Facebook ads or Google PPC. Referral marketing has repeatedly demonstrated how social recommendations drive customer action with only rewards as carrots. 10. Increases AOV (Average Order Value) For example, someone earns points for every new customer they bring along. At some point, they realize they’re a bit short in points to qualify for a major discount or other bonus. In such a case, they may buy from you to earn those points. In the long run, referral marketing increases Average Order Value (AOV) and repeat sales increase. Typesofreferralmarketingprograms Thebeautyofreferralmarketingisthatthereareseveralwaystosatisfyconsumers, partners,andemployeestoencouragereferralbehavior.Thesearefourcommonmethods ofreferralmarketingthatorganizationssuchasNetSuiteandDropboxareusingto increasetheirrevenue. Directreferrals(wordofmouth) Emailreferrals Referralsfromreviews Socialmediareferrals 1.Directreferrals(wordofmouth) Themostoptimaltypeofreferralthatbusinessesrelyonisdirectreferral.Itentailsa highlydrivenconsumerwhoisnotonlyawareoftheproductbutalsoappreciatesthe advantage.Theyarecapableofpersuadingpeersandanyonewithintheirgraspto becomenewconsumers. English

12. SecretstoBuildingaSuccessfulB2B2CGrowthFlywheel?LiveWebinar Whatmakesthissoeffective?asaresultofcost-effectivenessItdoesnotneedlarge- scalepromotion,butratherdependsonconsumers'faithintheirpeerswhoareearly adopters. Saveyourspotnow Example:Zapposaccomplishedthisbyempoweringitscustomer-facingteamstoassist consumers.Becauseofthisdegreeoftrust,theyactedmorelikebrandambassadorsthan typicalemployeesentrustedwithataskroster.Theirstaffalsoabandonedscripts, allowingthemtobuildstrongertieswithconsumers. 2.Emailreferrals Marketershaveutilizedreferralemailsforyearstotargetpossibilitiesinsidetheircurrent network.Theydothisbyidentifyingsubscriberswhocanvouchforthebrandandsending themreward-basedemails.Theemailsdonothavetoadheretospecificstandards; instead,theymaybebriefandto-the-pointcommunicationsthatpositionyourbrandasa value-driverinthenetwork. Example:Dropboxaccomplishedthisbysendingsimpleemails,asseenabove,totheir referrals,allowingthemtoissueinvitestotheirpeers. Thisactivitywasawardedwithupto16GBoffreestoragespace.Itwasoneofthemost successfulreferralprogrammessincetheincentivebenefittedboththerecipientandthe referral. 3.Referralfromreviews English

13. Didyouknowthattodaythemajorityofbuyingdecisionsaremadebasedonreviews?Didyouknowthattodaythemajorityofbuyingdecisionsaremadebasedonreviews? Localsearchesonproductsandserviceshelpbuyersdecidewhetherthebrandmeets theirexpectations. Saveyourspotnow SecretstoBuildingaSuccessfulB2B2CGrowthFlywheel?LiveWebinar Brandsthatknowtheimportanceofreputationmanagementdowhatittakestoensure theyhaveafavorableopinioninthepublic’seye.brandsthataren’ttakingthisexercise seriouslyrisklosingpotentialcustomerstotheircompetitors. 4.Socialmediareferrals Didyouknowthattodaythemajorityofbuyingdecisionsaremadebasedonreviews? Localsearchesonproductsandserviceshelpbuyersdecidewhetherthebrandmeets theirexpectations. Whyreferralmarketingprogramsfail? Referralmarketing,likeallotheradvertisingstrategies,haslimitationsandcouldfailif usedincorrectlyorinthewrongcircumstance.Tobeginwith,itisnotapanaceathatwill fixallmarketingconundrums. Herearesixreasonsyourreferralmarketingprogramscanfailterribly: 1.Choosingboringrewards Itisn’treferralmarketingwhenyoujustthrowaso-soincentiveatacustomerandask themtoreferafriendorfamilymembertoyourbusiness.Referralsarepersonsthathave sentiments.Whileonereferralmaywantane-giftcard,theothermaydesireexperiential gifting.Theonlywaytofindoutwhichrewardsaremosteffectiveistoperformabriefpoll beforethecampaign. Tip:ThereareexcellentreferralprogramsthatcompaniessuchasAirBnBand Uberhaveimplementedtopromotereferralsales.Amodestshowofthanksinthe formofdiscountsandfreeridesforsuggestingafriendorcolleaguewouldmake anyone'sdayandencouragethemtomakereferringahabit.But,beforeyoudo so,askthemwhatincentivestheywouldchooseifgiventhechoice. ? 2.Incentivisingreferralsanddisregardingreferred English

14. AnotherreasonwhymarketersagreethatonlyreferralsgetarewardbutnotthereferredAnotherreasonwhymarketersagreethatonlyreferralsgetarewardbutnotthereferred ispennypinching.Thismightresultinlessdesirabilityinapotentialbuyer’seyeswhojust heardaboutyourbusinessthroughafriend.Rewardingismosteffectivewhenit’sawin- winforbothreferralandreferred-  monetarilyorotherwise. SecretstoBuildingaSuccessfulB2B2CGrowthFlywheel?LiveWebinar Saveyourspotnow Tip:Whilecreatingareferralmarketingprogram,considerincentivizing generously.Spreadingdelightinbothdirectionswillsparkachainreactionthat doesnothavetobefinanciallysustained. ? 3.Inconsistentoutreach Youdon'tperformreferralmarketingonceandthenforgetaboutit.Toachieveclear outcomes,theprogrammustbeongoingandexpanded.Sendnurturingemailswith incentivestoyourpresentandnewconsumersonaregularbasis.Ifthisisnotdone,your brandwillbeforgotten,andallprogresswillbereset. Tip:Don'tmerelylaunchacampaignandwaiteternallyforreferraltraffictoarrive. Runback-to-backreferralschemesinphasestopiquetheirattentioniftheyhave otherresponsibilitiesontheirplate.Byseparatingyourcampaignsbyweeks,you cankeepcommunicationconcentratedwhilealsourgingpeopletoact. ? 4.Wrongaudience?Zeroprogress Areyoucertainaboutyourtargetpersonaandwhothestrongestadvocatesfromexisting customersare?Peoplewillglanceatyourwebsiteratherthanbuyfromitifthisisnotthe case. Itisessentialthatyourfuturecustomersbewell-informeddecisionmakerswithconfirmed purchasingintent.  Similarly,whileselectingamessenger,ensurethattheyarecompletely satisfiedasacustomerandfullygraspyourmarketingcampaign. Tip:Whilesegmentingtheaudienceforyourreferralprogramme,runindependent pollstodeterminetheirbuyinginclinations.Thisshouldindicateiftheyaremore likelytotakeoverfromyourmarketingteamorwhethertheyareentirely uninterestedinyouroffering. ? English

15. 5.Unwieldyreferralprogram SecretstoBuildingaSuccessfulB2B2CGrowthFlywheel?LiveWebinar Abadreferralprogramisanoffswitchtoreferralbehavior.Asking  tofilloutcomplicated forms,traversecomplexlinks,andfigureoutexclusiveprocesseswouldmakereferrals finickyandlesslikelytofinishthestepsrequiredtorecommendtheirpeersor communitiestotryyourbrand. Saveyourspotnow Tip:Makeiteasyforyourexistingconsumerstounderstandwhattheystandto gainbyintroducingyourbrandtotheirnetwork.Tellthemwhatincentivesare availableeachtimethepersontheyreferredmakesapurchase.Acleargoalin sightwillmotivatethemtostriveharder. ? 6.Dizzyingreferralprogram Whenanemployeereferralschemeissuccessful,itistypicallywhenyouremployeesare awareoftheprogram.Ittakesafewworkshopsessionstograsphowandwhentoimpact clientsensibilities.Forbusinesses,thismeansconcentratingontheirweakestlinksand shoringuptheirknowledge. Tip:Empoweryouremployeeswiththenecessaryknowledgetoperformthe referraljig.Thetoolsyouemploy,yourvalueproposition,andanythingelsethat cansharpentheirpersuasiveabilitiesshouldbeprioritized. ? Tipstobuildasuccessfulreferralmarketingprogram Herearesometipstomakeyourreferralmarketingprogramworklikeawell-oiledengine: Offeravaluableincentive:Therewardyouoffermustbevaluableenoughtomotivate yourcustomerstorefertheirfriends.Makesuretogivesomethingthatyour customersactuallywantandcanuse. Makeiteasytoparticipate:Thereferralprocessshouldbeeasyandstraightforward. Yourcustomersshouldbeabletorefertheirfriendswithjustafewclicksortaps. Personalizeyourinvitations:Personalizedinvitationscanbemoreeffectivein motivatingcustomerstorefertheirfriends.Segmentcustomersbasedon demographywhilegivingaglimpseofwhattheywillgetasarewardiftheyreferred someone. Usemultiplechannelstopromoteyourprogram:Promoteyourreferralprogram throughvariouschannels,suchasemail,socialmedia,andyourwebsite.Thiscan English

16. increasethevisibilityofyourprogram,helpingyourbrandreachawideraudience.increasethevisibilityofyourprogram,helpingyourbrandreachawideraudience. SecretstoBuildingaSuccessfulB2B2CGrowthFlywheel?LiveWebinar Providereal-timefeedback:Keepyourcustomersinformedaboutthestatusoftheir referrals.Letthemknowwhentheirfriendshavesignedupormadeapurchase.This canincreasetheirengagementandmotivationtoparticipateintheprogram. Saveyourspotnow Measureandoptimize:Monitortheperformanceofyourreferralprogramandtrack metricssuchasreferralrate,conversionrate,andcustomerlifetimevalue.Usethis datatooptimizeyourprogramandmakeimprovements. Timeyourreferralrequestsstrategically:Timingisimportantinreferralmarketing. Makesureyourequestreferralsattherighttime. Take your referral program to new heights by embedding rewards that can turn your passive fans into active brand promoters. From branded gift cards to prepaid cards to unique experiences, our rewards marketplace has everything to make your referrers and referees motivated to take an action. It’s secure, convenient, and compliant. Get a free demo English