How to win back lost customers with referral marketing

Looking for lost customers, reward offered

Every business loses customers, regardless of whether you’re a major telecom, a large bank,  a popular retailer or even just a small local business. Sadly, it’s one of those universal truths like death and taxes. And just looking at the average churn rates across industries is enough to send chills down any finance director’s spine: retail has an average churn rate of 37%, finance and banking have a churn rate of around 25%, and telecom customers churn at a rate of 21% churn rate.

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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.

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How Nine 7-Figure E-commerce Companies Scaled Their Customer Acquisition Channels

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.

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23 examples of leading telecoms referral programmes

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 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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