11 ways to build an effective referral marketing system
We all know referral marketing is savvy marketing. Recruiting new customers from satisfied, existing customers is just good business. However, building the most effective referral marketing system can be a challenge. So what are the key objectives to keep in mind when building or revamping your referral marketing system? Set expectations upfront; let customers know that you want their feedback or will ask for it in the future. Transparency is vital for building customer trust. Second, analyze before you implement. Put simply; make sure your customers are satisfied before rushing to them for reviews and referrals. Otherwise, no one’s happy. Next, create multiple referral paths for customers. No two customers are the same, so it’s always a smart idea to communicate with customers in a way that is simple and efficient for them. With a few small changes, your company could be well equipped to build a successful and sustainable referral marketing program. Want more detail? Click the link to read more.
Brand storytelling: an effective, powerful way to help your brand stand out
When building or growing a brand, having a high-quality product that fits consumers’ needs is essential. But product alone is not enough to make your business a success. This is where brand storytelling comes in. Brand storytelling allows you to connect with your target audience while also shaping word-of-mouth marketing. But wait, there’s more! Brand storytelling allows you to connect with customers emotionally, by showing them you don’t just have a good product—you have a mission. So, brand storytelling humanizes your company to customers. But does it pay off financially? The market says yes. Brand storytelling differentiates brands and reinforces brand loyalty. You’re not just a company, you’re an identity, an entity that customers relate to and want to be a part of. Okay, you’re finally sold on the idea. So, how do you construct the best version of your brand story? Check out this link to find out.
7 influencer marketing trends for 2020
Okay, so the influencer marketing world is changing. But what new trends are sure to catch on in 2020? Well, first of all, it’s important to remember that some things will stay the same (for now). For example, when it comes to marketing, content is still king. In fact, one trend that we’ll all see soon is an increased focus on confluence (content + influence) marketing. Hard-selling ads don’t work with customers like they used to, so soft-selling storytelling is the way to go. Second, audio and video advertisements will continue to rise in popularity. Studies show that video content attracts more people than flat images alone. And as generations of young consumers raised on YouTube come of age, it’s important to speak to them via the medium of their choice. Find out more about how your business can stay ahead of the curve as we head into 2020.
How brands can build trust with employee advocacy
Why does influencer marketing work? Ultimately, it comes down to trust. Followers feel like they know the influencers they follow. They feel like they’re friends. And customers will always trust a friend’s recommendation over an impersonal, corporate jargon-filled ad. Another place where trust is important? Between a company and its employees. Engaged employees can improve everything from your profits to your product. So how can your brand integrate trust both internally and in marketing efforts? Look to those who can tell your company story in an authentic way. And no one knows your company like your employees. They’re knowledgeable, authentic, and credible. In fact, 53% of consumers see employees as the most trustworthy sources for learning about a company. Plus, employee advocacy on social media kills two birds with one stone: communicating directly and authentically with customers and increasing employee engagement. Now that’s a clear ROI. Check out the rest of the article for more ideas on how to build trust with consumers and customers alike.
Word-of-Mouth Beats Paid Ads: A Case Study
Paid advertisements have long been a staple of modern marketing. With the allure of getting clicks for money, paid ads on platforms like Google and Facebook quickly became a fixture on the tool belts of most, if not all, marketers. But that is changing, and rapidly.
Nowadays, and this is crucial, users no longer trust paid ads. A history of deceptive and intrusive advertising has made users wary; a whopping 96% of Internet users don’t trust paid ads. Plus an oversaturated market has made the landscape much too noisy, to the point where brands have less than 2 seconds to grab the attention of the average Internet user. All this means that spending money on paid advertising like the days of old has ever-diminishing returns.
But out of all of this bad news comes a true hero we need: word-of-mouth. Just ask Dropbox, Uber, Airbnb, Tinder, and just so many others: WOM is the highest converting marketing channel, and is the most trusted marketing channel. We already know this to be true, but WOM has fast become the most valuable commodity to marketers in a world of oversaturated marketing channels and hyper-conscious Internet users. But, as they say: “the greatest trick the devil ever pulled was figuring out how to harness word-of-mouth to improve marketing performance.” Or something like that, I forget.