You’ve got a Friend: Referral Programs that Drive New Business
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We’ve already discussed the importance of keeping your happiest customers coming back for more, but what does it take to build your customer base beyond your loyal following? It turns out that word-of-mouth marketing is one of the most powerful tools in your arsenal when it comes to new customer acquisition.
Are you seeing a pattern? Successful word-of-mouth referral programs are all about rewarding users. That means that you’ll need to get into the spirit of giving to make a referral program work.
Simply put, in order to make sure your loyal users will recommend you to family and friends, you need to incentivize them. Motivate your customers to advocate for your business by offering points, punch cards, gifts, vouchers or discounts when they bring in new customers. You should also consider providing the new customer with an incentive in order to further drive new business. This can be the same reward as offered to the referring friend, as in the cases of Uber and Airbnb, or a different reward entirely.
A customer engagement platform like Como Sense can make the entire referral and rewards program a breeze to manage with simple-to-use yet sophisticated automation. In creating your own referral program, our platform allows you to choose customized incentives for both parties, limit the number of friends a member can invite (and, thereby, limit the rewards he or she receives), and track your ROI.
Word of mouth may just be the best marketing tool that you aren’t yet using. To get started with a referral program, schedule a demo with Como today.
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