How to win back lost customers with referral marketing

Looking for lost customers, reward offered

Every business loses customers, regardless of whether you’re a major telecom, a large bank,  a popular retailer or even just a small local business. Sadly, it’s one of those universal truths like death and taxes. And just looking at the average churn rates across industries is enough to send chills down any finance director’s spine: retail has an average churn rate of 37%, finance and banking have a churn rate of around 25%, and telecom customers churn at a rate of 21% churn rate.

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How to get customers to become Brand Ambassadors

How to get customers to become Brand Ambassadors

When it comes to trying to market a brand or product, there is no asset more valuable than a Brand Ambassador; those who evangelize you, your brand or your product or service to their friends,  family and colleagues. No matter how well you personalize your messaging, no matter how much data you pour into your targeting, and no matter how much effort you put into reaching niche audiences, you simply can’t compete with the power and credibility of a trusted friend, family member or colleague.

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How we would improve Netflix’s referral program

Netflix referral program

Referral marketing is one of the most successful techniques that companies can employ to ensure they stay on top of their market. And many iconic companies like Uber, Airbnb, Dropbox and Netflix, owe much of their incredible initial growth to supercharging natural word of mouth with a referral program. But a mistake that we think many of these titans have made, is in not realising that no brand is too big for referral marketing and, once they have become established household names, they have often failed to update and upgrade their referral program to support the continued growth of their business.

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10 Reasons Why Social Referral Marketing Works

Over the past several years, social media has evolved and grown into one of the most powerful tools available to marketing professionals. In our digital age, virtually all businesses around the world depend on social media as a marketing tool. In fact, if a company doesn’t promote itself through social media platforms, many customers or potential clients could very well consider the company to be less reliable and not as innovative.

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Trust Based Relationship Selling for the Digital Age

Trust is one of the most important factors in maintaining a successful relationship with your customers. It can boost sales, give your company an edge over the competition, but above all – it is the driving force behind brand loyalty.

The problem is, brand-customer trust cannot be established with the press of a button. With all the spam and phishing scams floating around, how do you let your audience know they can feel secure and comfortable doing business with you?

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