SO, WHAT IS REFERRAL MARKETING?
Referral Marketing is about connecting with people, essentially, it’s ‘word-of-mouth’ marketing. Think of it as a ‘refer a friend’ system.
Research has shown that when you recommend something to a friend, they’re four times more likely to purchase the same product or engage in the same is simple, your friends trust you. Their opinion is valuable to you, so when you recommend a product or service, they’re more likely to give it a go.
Need some stats to back that up? – A Nielsen Survey shows that businesses with a referral marketing system in place have a 70% conversion rate and 69% faster time on close rates. In fact, referral marketing scores the highest across every single demographic, out-doing editorial content, all forms of ads, and brand sponsorship.
By incorporating referral marketing into your business, you could potentially be saving yourself hundreds of dollars
which would otherwise be spent on more ‘traditional’ forms of marketing.
So, how should you tackle referral marketing?
Let me to enlighten you.