With many companies on the rise, the marketing strategies for the said businesses keep evolving. Matching with the trends that are popular and viral among the people. Among these strategies, one of the well-known and popular ones is the Referral SEO Marketing. In other words, it is also called as word of mouth strategy which involves the customer’s help in promoting the brand or the product. It is one of the most effective strategies and it has been used in various diverse fields. Many of the top-notch companies in the corporate area first relied on this strategy which brought them to where they are now.
Advantages of using Referral Marketing
There are many reasons as to why you need to choose this type of marketing. Especially if you are starting out. Such as
● Extensive Reach
Referring doesn’t stop at customers referring their family and friends to try out your brand. If celebrities, Instagram, or YouTube stars, star endorsing your product, they will be able to reach a far wider audience by the people who love and follow them. To create more impact, you can always add more offers when your brand is being used on referral. This will make the package and the brand seem more appealing.
● Accelerated growth
With social media popular among every person in this generation, one post on any of these popular applications will set a frenzy among the people who follow the famous stars that are using your brand. And within minutes it can accelerate the growth of your company, and give you the sales and the reviews that you need.
Referral marketing is one of the trusted forms of promotion among many of the companies out there. When it comes to using new products, irrespective of the field, trust is very important. When a close family friend or relative suggests that you use a particular brand, they end up getting the product because of the trust with the person who is referring it. This will allow the customers to build a strong bond with the company, and make them use your products more often.
● Target market usage
When it comes to marketing, it is important that you market the right product to a suitable audience demographic. It is pointless to market a product to people who have no interest in the product that you are selling. It is essential that you know what type of product should be marketed to customers. This is will help in referral marketing to happen smoothly.
Examples of Referral Marketing
There are many companies that make use of such a strategy. They are
This cab riding and sharing application have put the referral marketing to its best use. Incorporating this strategy has involved in the influx of customers in using this application. Thereby increasing their database. Not only that they also have offers for those who refer their friends and family to use this application to book rides. This feature is also extended to the drivers. They can refer their friends to start using this application and get smooth rides.
One of the world’s largest online marketplace that allows you to buy anything from any part of the world, incorporates this strategy with their customers. They allow the customers to refer their family and friends to start using amazon prime. With well-written content that made this feature take off, it reached success because of the referral program, bringing in more people to use this amazing feature.
Another popular online company that uses the referral campaign is Dropbox. They started off by offering free 500MB space for both the people who are referred and the referee. With the usage of this method, the company faced an increase with the signups up, jumping up to sixty percent. By understanding the needs of the users, they were able to increase their customer base. Inviting or referring friends can be done through various social media or through your contact list.
Among all the referral campaigns in the world, Airbnb has one of the best referrals packages. They have perfected the art of bringing in more customers to use their product. They make use of a 2-way incentive plan to users. It implies that the referrer and the referred will receive twenty-five dollars credit that is only after the recipient completes their first trip. The person who refers will also get seventy-five dollars once the receiver becomes a host to somebody. This program is still available to the users.
These are the few examples of referral campaigns that will help you gain more insight into how you can use it as well as widen your consumer base. Article contributed by Hari babu from TechAriz!