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.
Uber became a global behemoth on the back of its referral programme, where riders were rewarded for bringing in new customers. But what was once quite revolutionary now appears woefully behind the times and unfit for purpose. Let’s take a look at the cab-calling app’s programme and assesses where they may have gone wrong… and where you could go right.
Uber’s dramatic rise via referral
Back in 2012, if you’d walked up to a Londoner and said the word ‘Uber’, they probably would’ve started looking for neck tattoos and a copy of the UKIP manifesto sticking out of your pocket. Today, everyone knows you’re talking about the £50 billion cab company – and, what’s more, they probably know why you’re talking to them about Uber in the first place. You’re shilling your referral code in the hope of earning a free ride.
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.
For over 40 years, the world-famous cosmetics brand L’Occitane has elegantly walked the line between accessibility and luxury, equally at home on the high street as it is at some of the world’s most exclusive hotels, such as the Four Seasons chain.
When ASOS was set up in the year 2000, just about everyone said that selling fashion online simply couldn’t be done. “Ha!” they sneered, while waiting for their dial-up modems to download ‘Who Let the Dogs Out’ on Napster.