Acquiring new customers is tough. But it doesn’t need to be any more, due to the huge advances in referral marketing technology. Dozens of telecoms brands around the world are now benefitting from the award-winning Buyapowa platform, which has now generated over a billion euros of lifetime value.
The days when consumers would support brands without knowing anything about them are over. The internet has made it easier than ever to learn about the ethics and practices of companies which consumers support. Companies with track records of ethical missteps or questionable policies can’t hide those blunders anymore. Instead, they bear the brunt of bad social media buzz, which can have a very real impact on their stock prices and overall reputations.
A Quick Summary for Your Busy Day: (45 second read)
Cosmetics companies who develop and sell their own products have never had more opportunity to bring their products to market.
The past five years have seen a rapid rise in the availability (and affordability) of selling products online through ecommerce platforms such as Big Commerce, Hybris, Shopify, Magento, and WooCommerce, which has made it easier than ever to launch products to a wide audience without having to invest in costly brick and mortar stores.
We recently launched a world-class referral programme for Expedia, the world’s biggest travel company. We couldn’t be more excited to have partnered with a brand that’s been revered as an ecommerce pioneer for over 20 years. And we’re delighted to bring their millions of happy customers a refer-a-friend scheme that’s more powerful, more engaging and more effective than anything the travel industry’s ever seen.
Of course, when you think referral and travel, one brand currently springs to mind: Airbnb, who became a household name on the back of their referral programme. In fact, Airbnb (along with Dropbox and Uber) just about wrote the referral rulebook – so you’d assume their scheme would be right up there with the very best. But here’s the thing: if you take a look at Airbnb’s referral programme, it’s actually starting to look worryingly out of date.
So that’s exactly what we’ve done. Below, you’ll find our expert take on Airbnb’s refer-a-friend scheme. But, first, a little history…
Customers expect a lot. And, if you don’t give them what they want, they quickly go elsewhere. Can’t make free returns? See ya. Can’t ship to a secondary address? Adios. Now, according to the Ivy League data-scientists at the Wharton School of Business, 83% of customers want to refer their friends to their favourite brands and services. Crazily, 87% of brands don’t let them.
Hasta la vista. Baby.
Smashing it since 2006, the UK-based fashion firm boohoo is both an ecommerce icon and a multi-billion-pound empire, parenting other hugely-successful brands including Pretty Little Thing and the US phenomenon, Nasty Gal.
So, it goes without saying that Buyapowa are incredibly honoured to be powering their first ever refer-a-friend programme. As of today, millions of boohoo customers can introduce their friends and earn £5 credit to spend at boohoo.com (we’re guessing a lot of that credit’s going to be spent on boohoo’s headline-grabbing new collaboration with the ultimate It girl, Paris Hilton), while their friends will each receive 25% off their first shop. Better still, thanks to Buyapowa’s unique gamification feature, everyone who successfully refers a friend will get the chance to win a holiday worth £1000.