Examples of referral programs at leading utilities brands

To understand why utilities (natural gas, electricity and water suppliers) are increasingly looking to harness positive word-of-mouth to gain new customers via referral marketing, we need to look at the challenges utilities marketers face.

First, as the name suggests, a ‘utility’ is something that’s seen as interchangeable commodity, and if you switch gas, electricity or water supplier you get exactly the same gas molecules, electrons and water flowing through your pipes and cables. And so, at least in developed countries, changing supplier doesn’t typically impact the nature or regularity of the supply of gas, electricity or water to your home or business. So it’s hard to compete on product, other than by offering some nice apps and IOT applications to monitor and control your usage. And being a regulated business means that there’s usually a whole heap of red tape that restricts the kind of marketing that can be done, and what can be included in product bundles.

Read more

The Guide to Customer Retention, Loyalty & Referrals

While surely everyone knows the famous quote that acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one, it’s strange why so many brands still focus so much on acquiring new customers instead of focusing on their existing ones. Because improving the experience for existing customers will not only increase customer retention and the bottom line, but also create satisfied customers that can become brand ambassadors to help acquire new ones.

Read more

Our latest guide to the most interesting things happening in the world of advocacy marketing

1. The top 12 most reliable marketing channels for entrepreneurs

Keeping existing customers happy while gaining new ones is key to any business’s success. And the best way to do that is to connect with your target audience–those customers that won’t just buy your product, but might also spread the word to their friends. But, how do you figure out the best channel to reach them? While it naturally depends on your consumers and your product, we also might have some ideas. For example, creating personal connections with consumers is key, and referral marketing is the best at that. What separates you from the competition isn’t just your product, but the feeling you leave your customers with. Referral marketing allows you to leverage your happy customers’ trust to elevate their experience. Another top marketing channel? Word-of-mouth. We’ve said it before and we’ll say it again: there’s no better marketing channel than a happy customer, and one happy target customer can lead to many more. Interested? Check out 10 more top marketing channels that might just help you find your target audience.

Read more

Why success requires so much more than just referral marketing software

If you have been regularly reading our blog, you will have seen that the Buyapowa Referral Marketing Software platform is a sophisticated and powerful tool, packed with value-added features, fully configurable and capable of integration with a whole host of other platforms. And it’s also capable of extending to many use cases far beyond simple refer-a-friend marketing.

Read more

How do leading telecoms brands stand out from the crowd?

Smarty referral programme

Working in marketing in telecoms can be challenging – it’s quite simply that all telecoms brands are competing for the same customers, who can get more or less the same thing from a long list of providers. And, not only can those customers can also get the same iPhones, Xiaomi or Samsung phones, they can also get a new 5G service from almost all of them too. And the price wars never stop. In other words, in a such a competitive market with little product differentiation, you have to know how to stand out from the crowd if you want to be the best.

Read more