When you’re looking to scale your customer acquisition channels in order to grow your business, it can be tough to know in advance which platform will bring your site enough high-converting traffic to make a difference to your bottom line.
Even if you have killer content on your site and blog and you study your site analytics – so you know exactly which channel is bringing in the money – the question is how you get more and better traffic. Finding new channels inevitably involves some testing and learning, but you can always new test channels faster, be more flexible, and leverage existing customer data to plan your next testing hypotheses more efficiently.
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.
You’ve heard of the boiling frog theory, right? Put a frog in boiling water and it’ll jump right out. But put it in cold water, then slowly bring that water to boil, and Mr. Frog will happily sit there until he’s cooked to death.
It’s completely wrong, of course. Put a frog anywhere and it’ll jump out – that’s just what frogs do – but, as a metaphor, the boiling frog theory’s pretty helpful. Because, as people, we act like boiling frogs all the time: unaware that the circumstances surrounding us are getting more urgent, but failing to do anything about it until it’s too late.
1. Why now is the perfect time to reassess your company’s employee engagement
A global pandemic might not sound like the best time for much, let alone assessing your company’s employee engagement. But here’s the thing — understanding what is and isn’t working for your employees is important, and assessing during a time of crisis can actually spur employees to be brutally honest with you. A recent study from Leadership IQ found that fewer than a quarter of employees currently feel they have high resilience, and high resilience employees were 310% more likely to report loving their jobs than employees with low resilience. And as you well know, teams with high resilience pays off big time through things like decreased turnover, increased productivity, greater efficiency, and even improved creativity and customer retention. So it’s crucial to identify teams that are struggling and address the problem directly before it gets worse. Now, in the midst of a global pandemic, is when employees need true leadership, and you can’t figure out what employees need if you’re not communicating with them. And sure, there’s a good chance scores will be lower than before, but current data will also undoubtedly be more truthful and help employees more. And, in the end, investing time and energy in your employees is also investing time and energy in the future of your company. Learn more.
You wouldn’t be surprised to hear Buyapowa evangelizing how word of mouth is the most effective marketing there is because, well, it is. Of course, we’ve spent the last seven years perfecting what we think is the best enterprise referral marketing platform available, so we might be a little biased. But when two of America’s most prestigious universities, Yale and UC Berkeley, publish research on the effectiveness of word of mouth, we think that is worth a few moments of your time.