3 Reasons Why Referral Marketing Can Help You Instantly Gain More Leads
Referral Marketing allows your consumers to become the voice of your organization. Study after study has proven that referral marketing is one of the best forms of marketing when it comes to sales and conversions. Simply put, referral marketing, sometimes also called word-of-mouth marketing, is just people purchasing products based on someone else's opinion or influence.Whether it be incentive driven or your product is just so great consumers just can't resist the need to organically tweet about it, referral marketing can be your key to adding more leads to your database. Welp, that is, if you allow it.
But why should you attempt to add more referral marketing opportunities into your marketing mix?
Well, here's 5 reasons:
1.) It's More Relatable.
Not to be confused with Influencer Marketing, referral marketing is a technique that is customer focused. It involves your REAL existing customers raving about your products; not a well-known celebrity or public figure. It's successful because it conveys a more organic feel amongst consumers because they are hearing about your product from another "regular" person.Trust goes a long way when it comes to convincing someone to buy something. If we don't trust someone, we aren't going to listen to them. It should come as no surprise that regular people relate better to other regular people; that's just human nature. It's a powerful marketing channel because people trust the opinions of other people in their lives and people they respect.
I like to think of it like this. A referral is like someone who is visiting stopping another person (whom of which is a local) and asking for directions, but instead they have a problem and are asking someone (whom of which has had the same problem previously) for a solution.
So what's the solution... your products or services!
2.) It's Cheap-er!
For example, by starting a in-house rewards program you'll be able to attract the attention of a large group of your existing customers, give them a CTA like sharing a link or giving your company a shout out on social media, and they will gain points, a discount, or even just an entry into a contest or for a prize.
3.) There's So Many Way to Approach It.
I'm sure we have all heard that there is always more than one way to get whatever you would like to achieve done, and Referral Marketing isn't any different. For example, with a social media driven approach to referral marketing a smart marketer will probably use the social media to do a little bit of research about the customer whom they are going to pitch to, or talk to the customers who are already happy and then probably get them to recommend, you create case studies, you create testimonials, videos whatever, whichever is convenient and whichever is more accessible by your target audience, and put them up there so that people can use it.
You can also make your customer service so good that folks just have to tell their friends about it, make it easier for them to share your brand with others by providing pre-written social media posts, or make your packaging and products experiences so shareable that they can't resist sharing it with others.
Whichever your way of going about it, referral marketing is definitely not something to be slept upon. So get out and get your customers referring!
References:
Dastar, Zal. (2017, January 31). Referral vs. Influencer Marketing. Lucep. https://lucep.com/referrals-vs-influencer-marketing/
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