If you’ve already built your own referral program in-house, or had one built for you by an agency, there’ll likely be a moment when you realise that it’s no longer fit for purpose. Perhaps your needs changed since you launched it, as your business scaled, you internationalized or launched new products and services? Or maybe customer user experience expectations, social network use and sharing behaviors have evolved since then? Or it may no longer comply with new laws and regulations? Or it could be simply that you realize that it could just be more efficient, generate more referrals and require less manual effort.
It seems crazy that, almost fully 30 years since the birth of the internet, some brands still don’t use online referral programs. Instead, they persist with old fashioned referral programs that are fully or partly offline, often requiring a potential referrer to fill in an online form (or even a paper form) with the details of the friend that they want to refer, so that the brand can then reach out to that person by telephone or email.
Just over 4 years ago we began working with the Vodafone Group. Something we are immensely proud of, particularly as we are now represented across various different Pay as you go and Pay monthly mobile, Broadband, Fibre, SoHo and Business brands and segments and also across the United Kingdom, Ireland and The Netherlands.
NOTE: We’ve updated this article to include yet more fantastic examples of brands that are deploying creative and innovative ways of maximizing the performance of their refer-a-friend program.
What is a referral program? A referral program is growth marketing tactic that seeks to encourage existing customers to recommend a brand to their friends, family and colleagues. Often called word-of-mouth marketing, it seeks to supercharge natural or latent word of mouth with easy to use sharing tools and referral rewards.
Finding the right method to acquire new, valuable customers for your business is hard work. That’s where referral marketing companies come into their own.
Due to that fact that 9 out 10 customers trust peer recommendations, a figure much higher than that achieved by traditional advertising, more marketing leaders are turning to conversational, trust-based marketing, and continuing to adopt new marketing technology to reach new customers. However, the proven tactic that continues to bring in more loyal customers for titans like Dropbox, Slack, Uber and so many more is referral marketing.
While surely everyone knows the famous quote that acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one, it’s strange why so many brands still focus so much on acquiring new customers instead of focusing on their existing ones. Because improving the experience for existing customers will not only increase customer retention and the bottom line, but also create satisfied customers that can become brand ambassadors to help acquire new ones.
Peru’s leading gaming brand, Apuesta Total, is committed to their gaming market, enabling their customers to access the best bets and betting exchange markets across its website and network of shops throughout Peru. Whether it’s wagering pre-match and in-game across all major global leagues and sporting events or virtual games or live casinos, their customers can enjoy secure and entertaining gaming, no matter where and when.