Referral marketing is known as one of the best methods for startups and SMEs to increase engagement and conversion rate. Dropbox and Airbnb are the two most popular cases in terms of referral marketing.
So how referral marketing has that incredible power? There are 3 key success factors: audience, awareness, and the speed of going viral. Based on these fundamental elements, you can develop a proper referral marketing plan.
However, this post will give you 8 extra simple instances of different referral marketing strategies that help you perfect the ideas.
- 6 REFERRAL MARKETING STRATEGIES
- Let’s check the examples
- 1. Direct referral – You will get a 30% discount if you recommend us to a friend.
- 2. Tangible referral: We will give you 4 spa vouchers, please share them with your friends.
- 3. Community referral: We commit to donate half of our profit to a charity if 500 lipsticks are sold today. (#company)
- 4. Implied referral: If you buy any of our products, you will also have a T-shirt with our logo.
- 5. Online review: If you are satisfied with these shoes, please rate us 5 stars and review the products on our website.
- 6. Social sharing: I love this sunscreen; I will share it with my friends on social media. (#consumer)
- Recap: ►Direct referral ►Tangible referral ►Community referral ►Implied referral ►Online review ►Social sharing
- Follow @sisudigital.fi to get more marketing news and social media pro hacks! If you love this post, please share it with your friends. #referralmarketing
See more company examples of referral marketing here!