Creating the Ultimate Win-Win In Referral Marketing
Want to increase your sales by increasing rewards for your customers? Sounds expensive, doesn’t it? Wrong! It’s possible to create the ultimate win-win scenario for new and current customers by setting up a personal referral system for your company.
Having a personal referral system is great because you have complete control over the discounts you want to reward your new and current customers, without falling victim to the discount. Since it’s personalized, you aren’t paying for what you aren’t using, and you are not at the mercy of what other businesses want to offer. You are your own boss!
Referrals are a part of every business model, and by focusing on increasing your referrals, you are investing in new customers, as well your current customers. Just knowing that referrals are part of every business puts you ahead, because you can now target, expand and harness your referrals! All of this can be done online, in harmony with your pre-existing website. This way, referrals are easy to track and you can view for yourself how sales are increasing, and from whom!
How It Works
When a current customer visits your page, they will get the opportunity to vouch for your company, if they choose to. The choice to refer isn’t being forced on the customer like other marketing methods. By allow the customer to choose to refer, the referral will be much more honest.
When the current customer vouches for your company it will allow them to access the reward (that you determine) if their referral goes through. The new customer will also have an incentive (that you determine) that creates likelihood of the transaction going through.
“…that’s the part I like the best being able to see who referred who, I can now see my best advocate clients within Vouchfor’s reporting interface.”
-Silvina Pica, Mercedes-Benz Canada
It’s easy to incorporate into your marketing strategy, and the trackability makes it simple to follow-up or focus more on generate more referrals.
For Future Use
This system is great because it’s so versatile- you have the opportunity to change the reward and incentive and make them part of your promotions. In future marketing campaigns, you can increase the reward temporarily in order to remind current customers about the program, incite your new customers to refer, or just to show your appreciation for their referrals.
Basically, new customers get a deal, current customers get rewarded, and your business gets a sale! How can this not be the ultimate win-win?
Try it out for yourself today!
Related articles:
- Your Referral Marketing Solution
- How to Effectively Use Discounts in Online Marketing
- 5 Ways to Increase Your Word of Mouth By Engaging Customers
- Posted 09 July, 2012
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