Sometimes clients and prospects ask us whether they really need to give an incentive to a referred friend. As if giving an incentive will attract the wrong type of bargain hunting customer? Or, where you feel your product or service is high quality, then surely the recommendation of the friend should be enough? Particularly, if your service is invite-only, like a private shopping club.
Your customers are the lifeblood of your business. Frankly, while you can have a fantastic team, a great catalogue of products, and an amazing business plan, but none of this will matter if you can’t keep those customers happy, engaged, and willing to tell their friends good things about you. Quite simply, in ecommerce, your customers are arguably the most important and effective sales tools you have at your disposal today. That’s because, when your customers talk, their friends and family listen. So you could spend your entire marketing budget on precisely targeted Facebook ads, compelling email campaigns, and clever CRO tests, but you’d probably be better advised to get loyal customers — or brand advocates – to convince a friend or family member that your products are worth buying.
You learn a thing or 39 working at Buyapowa, the world’s leading referral marketing platform. And, day in day out, we share what we know with our hundreds of clients across all kinds of industries – from fashion and beauty to telecoms and financial services, and everything in-between.
One of the topics we’re asked about most often is how to choose the perfect referral rewards and friend incentives. What are the different options available? Which ones work best in which circumstances? What value should they have? And what are the roles of rewards and incentives in the first place?
Well, here’s everything we know. And, now, you do too!
