Referral marketing essentially turns your
customers into marketers for your brand. As it involves providing incentives
and rewards to customers to encourage more referrals, marketers can tend to shy
away from this tactic.
However, the following benefits will convince you to
seriously consider referral marketing in your digital marketing strategy -
Generates trust
Customers tend to trust their peer reviews and
testimonials more than any advertisements. It has been shown that people are
four times more likely to purchase something when a friend refers it to them.
Increases outreach
When you turn your customers into an advocate for
your brand, you are naturally expanding your outreach to the customers' own
networks, giving you an opportunity to tap into a completely new customer base.
Increases social engagement
As your customers start referring your products,
they are more likely to keep returning to your website and social media
accounts, thus generating more engagement and solidifying your online presence.
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