Referral programs are one of those marketing ploys that businesses use as a “by-the-way” effort towards growing customers. In most cases, too little thought, time and resources are invested in crafting referral programs that recognize the needs of one’s customers while taking into account the unique aspects of one’s business simultaneously.
The numbers speak for themselves. According to research by Gigaom, just 39% of marketers use referral programs on a regular basis. However, nearly 43% of the ones who do use referrals find over 35% of their new customers coming from these programs.
So what do those 43% of marketers do differently? How do they break the tired old mold of “Refer a friend and get X”? There’s definitely something more than the usual worn-out lines that prompt that level of interest and engagement.
Read on to find out.