Consider all of the marketing tools and strategies you use within your business. From the free ones like social media, to the marketing firm you pay each month – which of your techniques has the best return on investment (ROI)? If you’re like most small- to medium-sized businesses, you listed email as one of the top revenue generators. With an ROI of $44 for every $1 spent, HTML responsive email is certainly worth your time, but referral marketing is another top producer that’s often overlooked.
Chances are you’ve asked a friend or family member for recommendations of a good local restaurant or fun vacation spot, but statistics show we’re just as likely to take the word of a stranger when it comes to recommendations. Research shows 84% of consumers trust online reviews as much as a friend’s suggestion. In other words, referral marketing works.
Referral marketing is the digital form of word-of-mouth marketing. At its core, this marketing method gives your brand more exposure and conversions because your loyal customers are recommending your products or service. It’s the power behind referral programs and one of the simplest ways to reward your current customers and gain new ones.
Most modern referral programs utilize a tracking software that allows your participants to share personalized links or referral codes to promote your business to people they know. Depending on how you customize your program, when new customers make a purchase with a participant’s referral link, the participant receives a bonus – cash, free products, or other incentives.
Whether you’re building or improving your referral program, here are some ways to create success:
Network marketing in this way will not only secure your loyal customers, but it also uses social proof as a sales tactic to gain new prospects.
One of the most effective ways to grow your referral program is with a customized marketing email. Messaging your email list means you’re already speaking to an engaged audience.
When you create the referral program email, get straight to the point. You want the call to action to be clear and enticing. Don’t busy the page with numerous links or images. Some effective CTAs include:
“Get 20% off all products for each referral. Share this link online to refer your family and friends.”
“Refer friends. Get rewards. Earn 10% of each purchase when your friends and family purchase from this link.”
“Share what you like most about [brand name]. Spread the word for great discounts.”
The marketing email should link to a customized landing page specifically for the referral program. It’s also a good strategy to include your referral program in post-purchase emails. Whether you’re sending an e-receipt or customer satisfaction survey, include information about the referral program.
Building high-converting emails is possible with the HTML responsive email building from Admail. As you launch or strengthen your referral program, use the power of email marketing to fuel interest from your current customer base. Check out our product demo to see how Admail can support your needs.