Referral Program Ideas
Many online businesses have adopted referral programs as marketing strategies. This can be attributed by the fact that word of mouth can be quite effective when it comes to marketing. Referral programs are whereby customers recommend a particular business to their friends who may also become interested in being customers of the business in question. For a referral program to be effective there are a few factors that must be in place.
1. Your business must be exemplary when compared with your rivals and competitors. This is to prevent disappointment when other customers poach your customers during a referral procedure. Ensure that you provide extraordinary services, better than your competitors for maximum efficiency.
2. Your employees must be knowledgeable about the products and services that your company offers since some of the best referral programs are wrapped around employees’ recommendations.
If all the above factors are in check, below are some referral program ideas that you can use in your referral program to achieve success.
1. Incentives to customers – Most people are motivated by incentives. If you provide rewards to your customers every time they bring in a new referral, they highly likely to bring in more referrals. For instance, you can offer incentives in the form of many or a free service for a limited time every time, a customer brings in a referral. In such a case, customers will be very motivated to get the reward money hence they will bring in more referrals.
2. Incentives to employees – Employees are crucial in any referral programs. Most customers tend to trust employee referrals much more than other customers. If you offer your employees incentives such as commissions, promotions or all-paid-expenses holidays, they are highly likely to refer more people to your business.
In order to keep a clear count of your referrals, you are required to list down the number of referrals in your business at any time. For instance, you can keep a list of which referrals came from customers and those who came from employees.
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