Referral marketing has been around for a long time but, only now that companies are gaining more and more interest in this organic way of increasing their revenue. There are a lot of benefits that referral marketing can have for customer growth, and among the most important ones is money saved on building an ad that will not convert right away.
The beauty of referrals is that it gives your brand trust and reputation because the referral came from someone they know. It also allows you to acquire a new customer at a lower rate because the acquisition channel was a trusted source in their network, not a paid ad on Facebook.
Among multiple solutions on the market, there is ReferralCandy – which caters to e-commerce businesses. For small and medium-sized companies might seem a bit pricy, so we compiled a list of the top 4 (almost free) alternatives to Referral candy.
- Build your referral program
Another way you can leverage word of mouth referrals is by starting your referral program. To do so, assign one of your team members to develop one internally and start promoting it to your current customers.
Test it for a couple of weeks, and make sure you add information about it on key points on your website like the checkout process or your cart. If the program takes off, switching to a technology that automates the process will make it more manageable.
When creating your referral program, make sure you add incentives that are worth it for your customers. To do so, first need to understand your customers and then what kind of rewards will incentivize them to refer their friends and family. Referrals happen naturally if a customer is a big fan of your product or service, so adding incentives like free samples or free shipping will make your loyal customers more than happy.
- Brand ambassadors
Start a brand ambassador program that will also leverage word of mouth marketing.
First, you need to identify potential ambassadors by studying your target market – look at the influencers they follow, social channels where they hang out, and most importantly, people with high authority in the target market.
Let’s say you decided to select 4-5 ambassadors that have over 5K followers on Instagram, and their audience is home-decor enthusiasts (if this is your target market). You’d have to give a free product away to your ambassadors, along with a discount code for their followers. You can go the extra mile and add a percentage of the sale coming from the ambassadors back.
Our solution can help you automate the brand ambassador process for free by allowing you to monitor each of the ambassador’s sales and manage how much commission they make all in one place.
Product giveaways are a powerful tool to increase brand awareness but can also be used to increase sales. Let’s take, for example, EarthLove, a subscription-based box that decided to take a different approach this Black Friday. Instead of offering a discount for all items, they decided to give away free products if a customer spends a certain amount of money.
The key to doing giveaways to increase sales is knowing what your audience wants and the right incentive needed for them to make a higher value purchase.
We offer businesses a free of charge solution that will help you leverage customer referrals and incentivize repeat business. It’s a combination of referral programs and review systems where your customers can make money for referring friends to your business.
Millennials don’t trust traditional advertising coming from Facebook ads, Instagram ads, or Google ads. They make more informed buying decisions than older generations, so what matters most is referral marketing. If they hear about your brand from friends, family, and even influencers with high authority, they’ll be trusting that more than an ad they saw on their Facebook story.
btwn makes the whole process automatic, so instead of tracking referrals through codes and links, like in traditional referral programs, we developed a technology that allows us automatically reward referrals.
Signing up is free and only takes a few minutes – create a business account here.