Referral marketing is not as easy as you might think.
A business looking at customer referral programs often has lots of questions to ask such as: Will it work for our business? What kind of ROI can we expect? How different is it from any other marketing campaign? Will our customers take part? What are the mistakes we should avoid?
If done right, a well-run e-commerce referral marketing program will almost certainly deliver on its promises: low-cost customer acquisition, higher average order values and longer customer lifetimes. Referral may seem easy, but there are some fundamental aspects that if not done correctly, can ruin every good referral program:
When it comes to trying to market a brand or product, there is no asset more valuable than a Brand Ambassador; those who evangelize you, your brand or your product or service to their friends, family and colleagues. No matter how well you personalize your messaging, no matter how much data you pour into your targeting, and no matter how much effort you put into reaching niche audiences, you simply can’t compete with the power and credibility of a trusted friend, family member or colleague.
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.
We’re excited to announce the launch of T-Mobile’s refer-a-friend program, powered by Buyapowa. It’s a real champagne moment for us, affirming Buyapowa’s status as the de facto choice for powerhouse brands looking to acquire new customers via the advocacy of their existing ones.
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?
