Referral marketing drives $6 trillion of annual consumer spending. It also accounts for 13% of consumer sales. Integrating referral marketing programs allows enterprises to harness this potential. Once your referral marketing programs are in place and you’ve decided which channels you’ll use, you need to ensure that your referral links are easy to share.
But first, what are referral links? Referral links allow businesses to track which customers have sent referrals to them, and which of those referrals ended up converting. When a customer joins a referral program, they are given a unique referral link. This is then used to keep track of every referral that comes from a single customer. Customers share the referral link with their friends, family, or anyone who they think might be interested in the company’s products or services.
If an individual who is referred becomes a new customer or meets another program requirement, a reward is automatically sent to the referring customer. That’s why referral programs can be a great way to turn customers into brand advocates, while simultaneously increasing CLV.
Here is an example of a portal that we built for Virgin Media. As seen below, the reward is clearly stated and the referral link is easy to copy and share in a matter of seconds. Several options to share the link are also present.
Virgin Media example
Be sure to provide multiple options to share the link on the platforms your customers use most — such as Facebook, Instagram, and email. In particular, you should add a referral code to your checkout confirmation page. At this stage, your customer will be far more likely to refer you to people they know. In addition, don’t forget to optimize your program for mobile — codes shared by WhatsApp or QR codes typically perform better than other channels such as Facebook or Twitter.
It’s as simple as that!
Now that you’ve made referral links easy to share with your customers, it is essential to track results and optimize your processes. Find out how we do that in the next blog post.
Interested to learn more about how Aklamio can help make your referral program a success? Reach out to us here.
May 20, 2022
May 17, 2022