Trend for 2022: Referral Marketing is dead…..long live Referral Marketing

Referral marketing is dead... Long live referral marketing

While any prediction in the midst of a global pandemic is fraught with danger, we are confident that 2022 will be the year when referral marketing finally emerges to be so much more than just a simple customer acquisition channel.

The year ahead will see its transition into a powerful tool that unlocks the full potential, not just of customers, but all the people, partners and affiliates that already know and love your brand, delivering you a hugely valuable new source of business growth. And it will do this at a fraction of the cost you are used to seeing from other marketing channels.

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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.

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Examples of Referral Programmes at Leading Telecoms Brands

Examples of leading telecoms referral schemes
To understand why telecoms marketers have turned towards referral or member-get-member programmes, we first need to look at the daunting challenges they face.

On the one hand, the demand for mobile, fixed line and broadband services never ceases to stop growing. Users now just expect the highest-possible quality streaming to their fixed and mobile devices, with all the huge capex requirements in fibre networks5G etc. that necessitates.

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Buyapowa discusses boosting customer referrals with Pathmonk

Our Director of Marketing, Peter Cunningham, recently sat down with the team at Pathmonk for a podcast to share what Buyapowa does, how we do it, and why lead generation is more than just a numbers game.

As a business that powers advocacy marketing programs for and markets to some of the world’s leading enterprise brands, Buyapowa has a ‘quality over quantity’ ethos, opting out of generic messaging and an over-reliance on automation to instead focus on brokering relationships and personalizing communication for specific audiences.

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