How to Build a Referral Program into Your Online Business
You know the power of word-of-mouth advertising. Referral program, In fact, you swear by it. Referral program for online business. Here we go!
But what marketers usually miss is that word-of-mouth advertising isn’t something that always has to happen completely organically.
With a little strategy, you can encourage customers to spread the word.
The Benefits of a Formal Referral Program
Referral programs still help with lead generation: you’re rewarding people for doing the work of finding leads for you.
A referral program is a way to generate leads and not just any leads, but highly-qualified, niche-specific leads that are more to result in sales.
What are we left to conclude about the benefits of a formal referral program for online business?
- The leads you acquire will trust you more.
- You acquire are more likely to buy from you.
- And the leads you acquire are more likely to remain loyal customers.
The bank earned some 60% profit from its initial referral investment.
If you knew of a way to get trusting, loyal customers that generate 60% profit on your marketing dollar, you’d at least consider it, wouldn’t you?
Tools to Make a Referral Program a Reality for online business.
1. Invitereferral – InviteReferrals is a powerful yet simple-to-integrate referral software that helps to grow your business and acquire new customers through Referral Marketing.
2. Referral Rock – Here you can create, track, and expand upon referral programs to boost word-of-mouth sales.
3. WishPond.com – For more social media engagement, WishPond helps you create landing pages, contests, promotions, and automation for leading platforms like Facebook and Twitter.
4. Extole.com – Easy, simple, and intuitive—the exact kind of program you want if your focus is to make the process as navigable for your customer as possible.
Referral program for online business. Now you have the tools, the know-how, and the examples to create an epic program that incentivizes users to get on your team. What’s next? Implement!