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The Ultimate Guide To Referral Programs And Partnerships

The Ultimate Guide to Referral Programs and Partnership

One of the most-effective marketing strategies is to spread and make people aware of your brand to the market which is quite difficult for new brands to stand out among TOP NOTCH brands who already have a lot of fan following and trust. The problem?

Between their hectic work schedules as well as your branding and marketing strategy is the necessary and important part to build your reputation and brand.

Let’s see what is referral marketing and some of the basic knowledge about referral programs.

What is a Referral Program?

A Referral program is simply the reward from your customers or the influencers related to your brand give it as the word of mouth to their audience or refer it to other people proven to be the most trusted and effective marketing strategy which leads to an increase in sales of your brand. You need to make sure that you need to keep your customers happy with your marketing, product, and customer service which all comes into play at once.

How does a Referral program work?

Modern or referring program software is required made by happy customers through either a referral code or a referral link.

Depending on the referral program customers will receive a referral bonus to their audience. Referral programs software increases the automation and ultimately the sales to boost your customer retention and revenue.

How you can build Customer Referral programs that ACTUALLY works

  1. Set your goals
  2. Make a list of referrals customers
  3. Make a plan
  4. Resources to alert your customers like email marketing, blogs, CTA.
  5. Set Up Tracking Referrals and Rewards
  6. Thank Your Referrals and Customers

Some of the GREAT Customer Referrals Program Ideas And Examples

Here are some of the amazing customer referrals program ideas and examples that you can implement in your brand strategy for your audience and customers to increase your revenue.

  1. Held Contests, Quizzes, Giveaways
  2. Social Gifting
  3. Customer Loyalty Tiers
  4. Seasonal campaigns
  5. Live Events
  6. Coupon codes
  7. Referral link

How Multi-Billion dollar companies earn through Referrals!

There are a lot of ways in which you can apply referral program ideas and referral program partnerships to your brand that’s how multi-billion dollar worth companies build referral program partnerships and take it to the next level.

1. Dropbox

Dropbox offers free products or services in an exchange for users referring to new customers: You can earn more cloud storage space in exchange for referring a friend isn’t it cool? That’s how they take it to 4 Million users in 15 months.

2. Paypal:

Wondered how it got so many users? Who doesn’t love free money? Yes, you heard it right free money in return to refer to a friend.

3. Air BnB:

A single user in China led to hundreds and thousands of signups and bookings in just a month.

4. Uber:

Uber has been running multiple referral programs at once – for both the users and for drivers to benefit and resulting in their company growth in the long run.

5. Riff Raff & Co.

From just a simple home business, Riff Raff grew to a million-dollar business with just a word-of-Mum.

Attribution: The Featured Image is created by pch.vector – www.freepik.com

Also Read: You should read these 5 Best Marketing Books of all time

What do you think?

Written by Moiz Khan

Abdul Moiz Khan is a Digital marketer specializing in social media marketing, e-commerce management (Shopify, WordPress, Magento) and Search Engine Optimization as well. He also loves to write content on different topics and niches.

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