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The Essentials Elements Of 7 Successful Referral Marketing Strategies
I want to share a little secret with you. Are you Ready?
All clients aren’t created equal.
Don’t get me wrong, all clients are good. However, do you want to know who your best client is?
A client who gives you a personal referral.
People who are referred to you have a higher chance of trusting you and becoming loyal clients with larger budgets.
If you don’t have a referral marketing programme yet, you’re missing out on what I think is the easiest way to successfully and quickly grow a business.
When it comes to conversion rates, the referral marketing strategies we are discussing today will consistently outperform all of your other marketing channels.
A bold claim. However, the following referral marketing strategies statistics clearly demonstrate people who come to you through referrals have the best chance of engaging with your company, purchasing your services, and remaining loyal:
- People are 4 times more likely to buy when referred by a friend
- Clients gained through referrals have a 37% higher retention rate
- 81% of clients are more likely to engage with your business when you offer reward programmes
- Your profits will increase at least 16% after implementing a referral programme
Now that you’ve learned about the potential of referral programmes, here are some easy referral marketing strategies for your business you can start implementing today.
The links to the above statistics are at the bottom of this post for further insights.
Referral Marketing Strategies No. 1. Choosing Your Referral Incentive
When it comes to the best referral marketing strategies, there is no receiving without giving. You must first decide on a reward that works for your business.
Think like a client, what kind of incentive would motivate someone to talk about your service with a family member or friend? Try to answer their question of “What’s in it for me?” It can be as simple as giving a flat fee in return, or more complex like a point system contest.
But whatever incentive you choose, make it relevant to your service. If you’re in the business of providing beauty services, you could give a suitable beauty product as a reward. This way, you can be sure that the people referred are passionate about always looking good.
Referral Marketing Strategies No.2. Choosing the Right Time
Imagine signing up for a service and being asked to share it with a friend before you even use it. You know right then that is not the best approach.
It is best to ask your clients to share your service is when you have delivered on your promises. It’s when what you offer solves the intended pain points and makes their lives better. Only then will they be eager to recommend your service to someone they know will enjoy it as much as they do.
For example, if you’re a local personal trainer, the best time to ask your clients to bring their friends is after you’ve helped them achieve their goals, whether it’s losing weight or building muscle.
Referral Marketing Strategies No. 3. Consider Rewarding Both Sides
When trying to maximise the results of your referral programme, it is important to reward both the person who invites someone and the recipient.
This strategy works because it’s a win-win-win situation where everyone included is happy. Your current and new clients both have something to gain, and you make a new client in the process.
DropBox is a great example of how this strategy works. Their two-sided referral programme gives both the referrer and the referee more storage. And in just 15 months, they managed to skyrocket their user base by a whopping 3900%!
Referral Marketing Strategies No. 4 Create a Dedicated Web Page for Your Programme
You must create a dedicated page for it, that is easy to find. Complete with a large, bold headline that grabs your client’s attention and content that clearly explains the terms of the programme.
After you create your referral page, it’s time to share it with your audience. You can do this a few ways, one way is by adding a simple “Refer a Friend” button on your homepage that will direct those who are interested in your referral programme page to get all the details.
You can also place a link at the end of a follow-up email when you thank them for purchasing from you. You need to make sure it’s easy for them to find.
Referral Marketing Strategies No.5. Make it Simple and Pain-Free
You want to make it easy for your clients to participate with your referral request, so keep it simple. The quicker the client understands what they need to do and what they stand to gain, the better.
Check out our free monthly marketing magazine today – click here. You won’t regret it.
Referral Marketing Strategies No. 6. Use a Tool to Build Your Programme
There are many parts to creating a successful referral programme, which can make it difficult and time-consuming.
But it doesn’t have to be that way, though! There is plenty of referral tools and software options available that will help you set up and manage your referral programme pretty easily. Here are a few ones to get you started:
- Referral Rock: Referral Rock helps any business get more customers using the most powerful and underutilised asset, the happy client. It automates every step of the process to scale and consistently measure the success of referral marketing. It helps to acquire clients, scale best practices and build brand awareness.
- Invite Referrals: Referral marketing software that is multiplatform, fully customisable, and easy to use. There are plenty of features to go around as well!
- Revetize: Another excellent and user-friendly referral marketing tool. The best part I like about Revetize is you only pay for the features you use.
Links to these referral marketing platforms are at the bottom nd of this post.
Referral Marketing Strategies No. 7. Set Yourself for Growth
Congratulations! Your killer referral programme is bringing in a steady stream of new and satisfied clients and they all love your business. So, where do you go from here?
Now you need to keep these new clients around.
Another excellent idea is to remind them that your referral programme can benefit them too. Keep in mind your happiest clients are also your best source of new clients. They’ll almost certainly refer another friend, who will likely refer yet another, and so on. This way, you’re setting up your company for exponential growth.
Our referral reward programme centres around search engine optimisation and getting you higher search rankings
If you refer a new client to us you will be rewarded with 3,000 new high-quality backlinks to your website drip-fed over a 30-day period. And, the new client you refer will receive the same
Statistics Sources:
People are 4 times more likely to buy when referred by a friend
Clients gained through referrals have a 37% higher retention rate
81% of clients are more likely to engage with your business when you offer reward programmes
Your profits will increase at least 16% after implementing a referral programme
Referral Marketing Platforms:
Referral Rock – https://referralrock.com/
Invite Referrals: – https://www.invitereferrals.com/
Revetize – https://revetize.com/
Check out our free monthly marketing magazine today – click here. You won’t regret it.