In today’s marketplace, consumers are inundated with brand messages in their inbox, on social media, and on TV. It’s impossible for brands to stand out in this environment – the only recourse is to spend, spend, spend. There is a better way! Using referral marketing allows brands to get their best advocates sharing with their network on email, social, and text. Not only are these messages more authentic than brand ads, but they are also more effective.
Grow Through Word of Mouth
83% of customers say they trust recommendations from family, friends, or colleagues. This statistic alone has prompted brands to increase exposure through referrals.
Streamline the Word of Mouth Process
Rather than guessing how much of their business comes through Word of Mouth, referral marketing allows brands to track this marketing channel like they would any other.
Personalize the Business
Referral marketing allows consumers to share a personal message with their friends, creating a more relevant introduction to the brand and products.
Brands have a huge opportunity to capitalize on their greatest asset – their current customers. No other marketing source can combine product knowledge with personal needs like customers can with their network. Rather than wasting ad dollars on channels that continue to increase in cost, while driving low-quality new customers, brands should use Extole for referrals to decrease cost per acquisition and increase in customer spend.