Editors’ Note: We’ve found one more — possibly the most important — thing to consider when encouraging your customers to refer their friends to you. This blog post now goes to 11. See below for item #11 and learn how to move from affinity to advocacy.
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?
When you’re looking to scale your customer acquisition channels in order to grow your business, it can be tough to know in advance which platform will bring your site enough high-converting traffic to make a difference to your bottom line.
Even if you have killer content on your site and blog and you study your site analytics – so you know exactly which channel is bringing in the money – the question is how you get more and better traffic. Finding new channels inevitably involves some testing and learning, but you can always new test channels faster, be more flexible, and leverage existing customer data to plan your next testing hypotheses more efficiently.
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 expect the highest-possible quality streaming to their fixed and mobile devices, with all the huge capex requirements in fibre networks, 5G etc. that necessitates.
1. Promoting consumer arrogance proven to increase consumer word-of-mouth
Want to increase word of mouth around your company or product? A new study from Michigan State University found that you might want to work on tapping into your customers’ sense of consumer arrogance. That’s right, appealing to customers’ pride at finding a great deal or product means more word-of-mouth recommendations to family and friends. Why? Well, we’re all familiar with that feeling of getting a really great deal and wanting to tell others about it. We brag about shopping triumphs for the same reason we brag about anything else—it makes us look good. However, companies should obviously still focus on the quality of their product or offering before activating consumer arrogance—the same study also found that triggering consumer arrogance meant more word-of-mouth communication about the experience whether or not customers liked the product, meaning more positive word-of-mouth information if they were happy and more negative word-of-mouth communication if they weren’t. So while it could be a bit of a double-edged sword if companies aren’t careful, activating consumer arrogance is clearly a safe bet for increasing word-of-mouth. Read on.
At Buyapowa, we see many digital marketers wondering what is the difference between affiliate, influencer and referral programs and which is best to help boost sales via word-of-mouth.
While all of these can be genuine forms of word-of-mouth marketing (although affiliate marketing may have nothing to do with word of mouth, and can be can be click arbitrage or other forms of marketing etc.) they differ from each other in a number of ways. For retailers just starting out, the terms can be easy to mix up. And even experienced marketers can struggle to understand the best time to implement such a program and the relative benefits of each. So which program is best for your business?