Buyapowa's Expert Insight on Referral Marketing | Blog
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If you’re thinking about your first referral program and wondering what referral marketing software you should choose, this guide acts as a quick run through the main things you should consider and the questions you should ask yourself.
If you’ve already built your own referral program in-house, or had one built for you by an agency, there’ll likely be a moment when you realise that it’s no longer fit for purpose. Perhaps your needs changed since you launched it, as your business scaled, you internationalized or launched new products and services? Or maybe customer user experience expectations, social network use and sharing behaviors have evolved since then? Or it may no longer comply with new laws and regulations? Or it could be simply that you realize that it could just be more efficient, generate more referrals and require less manual effort.
The days when consumers would support brands without knowing anything about them are over. The internet has made it easier than ever to learn about the ethics and practices of companies that consumers support. Companies with track records of ethical missteps or questionable policies can’t hide those blunders anymore. Instead, they bear the brunt of bad social media buzz, which can have a very real impact on their stock prices and overall reputations.
Word of mouth is one of the most powerful tools brands can use to acquire new customers. According to Nielsen, 92% of consumers around the world said they trust word-of-mouth, or recommendations from friends and family, above all other forms of advertising.
