IS YOUR REFERRAL PROGRAM MISSING THE MARK?
Are you sure your referral marketing program is giving you the results that you should be getting? Because having a lot of numbers doesn’t mean you’ll be getting as much as you desire. In order to be happy with the results from your referral marketing program, it’s a must to be able to tell if your referral marketing program is using the best practices. So here’s a long checklist to know if you’re using practices that has been proven to make referral programs effective:
Is your way of promoting your referral program effective?
Like most of the common marketing programs, the key having a successful marketing campaign is by being able to promote it effectively. So make sure that you are using a lot of “effective” tools to promote and raise awareness on your program. If you aren’t sure where to start, here are 11 tools and strategies you could take note of to effectively promote your program
- Email newsletters
- Footers in emails that act as reminders
- Emails that are dedicated
- Buttons on your website for easy redirection
- Banners on your websites
- Facebook, LinkedIn, Instagram, and other social medias you could use to outreach
- In-product reminders
- Custom Audiences on Facebook and other forms of media that could be paid
- Messages to everyone that’s somehow part of your company to promote your referral marketing program
- Referral marketing invitations on Thank you messages and the like
- Zuberance can help you with referral sweepstakes and contests
How many of those listed above are you aware of? How many are already in action?
Think about the structure of your incentives
At this point having a well developed structure for incentives that compliments your company goals is important. A well-developed structure should have the correct flow for your rewards.
- Non-monetary rewards vs Monetary
When speaking of monetary rewards we are talking about rewards that have a direct cash value, so basically if you are looking for a straightforward way to give rewards then this would work best for you. Non-monetary is a way to reward even without a monetary value. Some of these would be swag points, early access and other point systems that don’t include money.
- Double vs Single incentive
When only the referring party is given incentives that belongs to a single incentive structure. And when both referrer and referred clients receive rewards then that is a double incentive structure.
If you want your referral program to be valuable then make sure that it is fine tuned. Your incentive structure shouldn’t just be compelling but at the same time it should be easy to maintain. When your incentive structure is strong, your brand ambassadors would definitely have more drive to share it.
- Are your rewards and incentives compelling?
You have to make sure that your campaign is infused with elements that would remind people of your brand. You have to be sure that you keep making people feel your brand when they receive your targeted emails, when they fill up your registration forms, when they login on your page and even on your widgets used to refer a friend. Always make sure that people in your referral program will be able to make people they invite experience your brand.
The only way for rewards and incentives to boost the results of referrals is by making the invites compelling. And what do I mean by compelling? First of it should be valuable to both your prospect people to be referred and referrers. Second, it should be relevant, it should be reflecting the price of the item you are referring. Lastly, it should be timely to both prospects and referrers. They both should have time to invite people and time to accept and still receive the rewards you are offering.
- You should be inviting EVERYONE
If you are limiting your referral programs to your customers and advocates only, then you’re doing it wrong. Here’s a short list of who should have the chance to be part of your referral program.
- Of course your current customers
- The customers you had before
- prospect customers
- Your business partners
- Your employees
- Should you be inviting detractors to be part of your referral program?
They are people who rarely respond to you, say 0 to 6 times. Should you invite them to be part of your program? Basically, if you keep sending them referral offers, they are more likely to be more irritated by you. But you can invite those who are considered to be in the middle of detractor and not to try participating in your referral program. But keep in mind that your customers that are considered promoters are those who respond to you 9-10 times, so if you try detractors you better make sure you’ll be offering a high incentive.
- Would it be easy for your referrers?
Most of the referrals program you’ll see are promoted very well, even the call-to-action could be easily found. The problem now is that most of the best practices for a good referral form aren’t practiced. Some of the must be used practices are:
- Give more ways to refer other friends
- Availability of social sharing
- Just have to put friends email address
- The capability of referring more friends at a time
So what should you do now? Go and review how your referrers feel about your referral form and make sure to make it as easy as possible.
- Allow tracking and rewards
By the time you have your branded campaign up and ready you should also start issuing your rewards and tracking your referrals. All of these could be simply done when you use the help of platforms that could help you by providing you with an easy to understand payout system, allows easy communication with members of the program, when it makes your program scalable easily, and gives you data needed for optimization.
- You should always personalize the experienc.
Are you using what’s listed below to personalize referral experience?
- Including the referrers name in the subject line. For example:
“Ramon has an offer you might love”.
- Including the friends name in the body of your email. For example,
"You would definitely love this product, Ramon”.
- Allowing referrers to pick three different offers to offer and choose what it would be.
- Test, test, and if you’re done testing, test again
With every marketing campaign, a small change could ruin your whole process. Make sure that before broadcasting whatever you’ve change, you have already tested it. Your shareable URLs, and emails are two of the most crucial keys to the success of your ambassador. Make sure that you have a profile set up that’s used for checking how customers would see your referral email. Make sure to double check for typos, that your instructions are easy and clear. And of course make sure that your URLs direct to where it has to direct.
What should you be asking yourself?
- Do you analyze data from every part of your referral program’s flow and experience of your user? Are there some types of customers who are participating more than others? If there is then why?
- Have you tried mixing and matching different rewards and incentives? Make sure that you give both rewards and incentives enough time to test
What should you make sure your website has?
- It should have testimonials from your previous clients.
- It should have available photos of products, equipment, and office. Your headshot, social media accounts and other ways to prove you’re legit.
- When you have famous customers, include logos of famous customers.
- An easy to find list of all your affiliates and memberships.
- Question and answer sheets to learn about a customer’s business and vice-versa.
- Photos of the certificates you have.
- Photos of your rewards.
- Articles that have mentioned you, related articles that you have published.
- A brief overview of your business.
- Available brochures, data’s, and even catalogs.
- Elements that you have incorporated with your brand like logos.
In order to make your referral program successful, you have to make sure that you are following most of the tried and tested practices. And if you aren’t yet then go back to this article and change what has to be changed. Make sure to test before going live, make sure to have everything needed for your credibility on your page and remember that you need your referrers so always be honest to everyone and always play fair with them.