In the past, word of mouth was limited to person-to-person communication. But today, with the jaw-dropping mushrooming of countless digital and social media platforms, it’s quite possible for the conversations to quickly spread around the world and influence millions of people. Besides, the tried and tested methods of glossy advertising have failed to win over the trust of people, as they know that more than often, there is a huge difference between what they see in ads and what the product actually offers. Instead, they trust the word of their friends and family members more. And that’s precisely why referrals have emerged as one of the most indispensable tools in affecting the psyche of people when they are at the threshold of making a purchase decision.
The fact that 82% Americans say they seek recommendations from friends and family before purchasing anything and 91% of B2B buyers are influenced by word-of-mouth when making their buying decision proves the unavoidability of a good referral program. But despite this, marketers are struggling with the lack of new ideas and platform to pull off the best of the referral world. And Annex Cloud’s Sharing and Referrals solution has certainly reduced that struggle, as it enables you to quickly grow your email database by creating dynamic incentive-based word-of-mouth marketing campaigns. But, how? That’s why we wrote this beginner’s guide to refer a friend.
The Beginner’s Guide to Refer a Friend: How It Works 1- Referral Request:
Tap into your customers’ social networks and offer them incentives for referring your brand and products to their friends. Send solicitation emails, put banners on your site, post about your referral program on social media, and put signs in your stores!
2- Referral Form: Through our solution, your customers can make referrals via various ways; email, social media, and receipt codes are just a few to name. There is no restriction on the number of referrals you can ask. We allow your customers to pick the number with which they are happy.
3- Referral Email: Once your customers are done with the sending of referrals, their friends will receive an email or social media notification offering a discount, points etc. for making a purchase.
4- Referral Action: Through the referral email, the referred friends will be directed towards your site. After finishing the referral action–usually completing a purchase–they will be eligible to take the advantage of the offers mentioned in the referral email.
5- Referral Reward: After the completion of the referral action from the referred friends, the customer who made the referral will receive their reward via email. But our solution will help you in bringing them back on your website to further bolster your customer relationship.
The Beginner’s Guide to Refer a Friend: How Does It Actually Help You?
1- Developing Unique Referral Actions:
It’s a must to appeal to the interest and curiosity aspect of the customers. Creating new and creative referral actions can certainly allow you to move in that direction. During the whole implementation process of our program, we help you in devising unique and more interesting sharing action that you would like to be performed by your customers.
2- Deciding Flexible Incentives:
Rewards have the pull that motivates more and more people in taking a part in your referral program. Thus, giving a right reward is mandatory. We know different businesses have different profit margins, different target customers, and different conversion rate. Hence, our Refer a Friend solution has the ability to support and deliver any kind of incentive. You can have $ Off, Product Samples, 3rd Party Giftcards as a reward for your program. If you want to have a different reward, which suits to your brand’s appeal and personality, you have the liberty to have it too. Our Customer Success Team works closely with you in coming up with a strategy on incentives. Not just that…our solution is capable of acquiring and delivering those incentives/rewards to your customers as soon as they have completed their Refer a Friend.
3- Adaptable Promotions:
Once you have decided what sort of rewards you want to have for your referral program, our expert team helps you in strategizing the promotional activities to reach out to the maximum number of people. To free you up so you can focus on your customers, we handle the heavy lifting of acquiring and delivering of those rewards.
4- White Label Email Marketing:
White-label is a term that is used when an email hosting company hosts your email service but allows you to rebrand the look so it appears as if it’s run by your company to your email users. It allows you to work more closely with us to form an email campaign through sending and tracking. Besides, it allows us to look into your customer’s accounts to monitor their usage, campaign schedules, and reports. This provides additional opportunities for services and revenue. In short, you can own and monitor all the information collected with white-labeled APIs and email addresses provided by us.
5- Monitoring And Measuring:
Regardless of the magnitude and nature of the program, it’s not possible to monitor its progress without measuring it and quantifying as many aspects of the program as possible. With the comprehensive dashboard, which comes with our solution, you can identify your top influencers, track the channels with your highest referral rates and monitor revenue generated through Refer a Friend.
6- Customized Reporting and Scheduling: To make sure that the right data and reports are being delivered to the right people, our Refer a Friend solution offers customizable reporting and scheduling to ensure everyone on your team is getting the information they need.
For more information about Refer a Friend, check out our guide to referral marketing best practices or our brand-new case study with Vivobarefoot, in which our sharing and referrals solutions have a 10:1 ROI and helped increase orders by 38%!