At Extole, we’re all about helping brands launch referral programs to acquire new customers through word of mouth. Part of the secret sauce is making sure you have the right offer for your program. We work with our customers to help them test and optimize program incentives to generate the highest participation from advocates and the highest conversion of their friends in a cost-effective manner.
We’d like to share a story about one of our customers, a women’s retailer, who worked with Extole to optimize its referral offer to boost its already performing referral program by 4x!
In April 2012, this retailer partnered with Extole to launch a referral program. The program asked customer advocates to share the brand with their friends. Both the advocates and their referred friends received $10 credits to the online store when friends made their first purchases. The program saw great initial success, driving over 1,000 new sales per month.
To increase participation and sales, the retailer worked with Extole to test the impact of incentives with a double reward structure. The promotion resulted in significant increases across the entire marketing funnel, including nearly 4x the number of sales each month!
To learn more about how Extole helped the retailer optimize its referral program for success, check out the case study HERE.