Think Referral System … not Referral Automation

Referral Systems

What’s a Referral System?

A Referral System is the means by which you get existing happy customers to advocate on behalf of your brand and encourage their friends, family and colleagues to also become customers. The difference between a simple referral and referral system, is that by planning how you can identify and use each contact point with happy customers to get them referring again and again, you can create a virtuous cycle of referrals.

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Adamo partners with Buyapowa on a new referral program

Adamo, the fastest growing Spanish telecom brand, has partnered with Buyapowa to upgrade its existing referral program. 

The brand already provides the best consumer internet fibre broadband, landline and mobile services in Spain, and already connects more than 1.8 million homes.  Due to the high quality of its offering, referral marketing is an obvious choice to further increase its already impressive growth. 

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Would you recommend your bank to a friend?

Three Financial Services Referral Programs

This article first appeared in Global Banking and Finance.

Well, the answer is clearly yes if you listen to the NPS reported by leading banks, which according to Customergauge listed these scores for for 2022:

  • First Republic Bank: 72
  • first direct: 66
  • ING Luxembourg: 63
  • American Express Bank: 52
  • Royal Bank of Scotland: 51
  • etc.

When the question is “how likely are you to recommend us on a scale of 0 to 10” and where, according to Bain & Company, any score above zero is good, above 50 is excellent and above 80 World Class, clearly these and many other financial institutions have a pool of potential brand ambassadors ready and willing to advocate for the bank within their circles of social influence.

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11 proven ways of increasing referrals from your customers

Here are 11 tips to encourage customer referrals to your brand

Before we offer tips on how to encourage customer referrals, we imagine you’ve already tried banner ads, sponsored Facebook posts and Google pay-per-click ads and perhaps are a little dismayed at the lackluster return on your investment.  It’s likely that your digital marketing efforts to-date increase visitors to your e-commerce site or provide a slight boost in revenue, but now you’re asking yourself: how can you grow your consumer engagement and get noticeable results that boost your bottom line? This blog article gives you an answer to that question.

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