Do you know word of mouth? That is, recommend something (a brand or a product) to those who are part of your environment? This practice older than man has been used for years by sectors such as insurance, telephony, energy, and banking to make their business grow thanks to the recommendation. Due to its unbeatable results, many Retail and eCommerce companies are currently considering starting them.
Table of Contents
Customer referral is defined as a process by which a customer recommends a brand or a product to their environment in exchange for a gift, a bonus, a little attention, or a coupon. In fact, recommended friends, that is, prospects sponsored by existing customers of a brand, also receive a reward if they agree to enroll in the referral program. These actions have also been called member get member.
Customer referral allows you to meet several objectives: attract new customers at a lower cost and generate additional income, while improving the loyalty of your existing customers.
beyond the simple fact of attracting new clients, the recommendation of clients allows you to attract qualified prospects. Recommended friends already know your differential value since your brand/product has been recommended to them by a relative or trusted person.
As acquisition channels multiply, the most expensive solutions are not always the best. Customer referral is also one of the cheapest acquisition levers on the market, as the strength of this strategy comes from your own customers.
a referral program allows you to quickly and easily identify your best ambassadors. You will be able to reward them in this way in their right measure and at the same time strengthen your relationship.
Also Read: AI In ECommerce will achieve Huge improvement in customer satisfaction
Working from home offers many advantages for employees, but also for employers. However, there are…
Virtual Private Servers (VPS) are increasingly critical. These servers offer the benefits of dedicated resources…
The global space economy is forecasted to surpass $1.8 trillion by 2035. This is More…
The WISHEW App And Platform Will Officially Launch In The United States On World Wish…
In an era where digital presence is almost as significant as our physical one, creating…
Generative AI has ushered in a new era of possibilities across various industries, from marketing…