Many enterprises today understand the value that can come from a program that allows customers and employees to refer their products or services to people they know. If they can motivate their customers to recommend friends and family as new customers, they can get new leads and thus more revenue. Not only will brand advocates make referrals; they become a part of the team by endorsing the products and services and amplifying the messages of the brand. And it works – according to a recent study, 92 percent of people trust recommendations from friends and family above all other types of advertising.
Despite understanding the value that referrals can create, many companies have not utilized their knowledge to its fullest potential. Of brands currently running referral programs, many of those programs are unsophisticated and difficult to use, leading to less than impressive results. For example:
- Some of these programs require filling out an excessive amount of information, including customer account numbers and other items that make it not worth the effort.
- Also, some of these less advanced programs simply take the information from the referrals and send out an email blast to the new leads. These emails are just basic advertisements that don’t even tell the recipients that their friend recommends the product or service to them. These emails might even end up in a spam folder.
More advanced programs are much easier to use, and have way more capabilities. They may require as little information as a name and email address, making it much more attractive for busy people to fill out. The referrals can also come directly from the friend or family member, rather than just the company itself, making the receiver much more likely to pay attention. The messages on the best referral programs are even customizable, and can be delivered through many mediums, such as email, Facebook, Twitter, referral cards, and more. And unlike weak and outdated programs, the software underneath automatically tracks all of the results so the company can confirm the success of their compaign.
Amplifinity works with many types of enterprise-level companies to help motivate social behavior, increase brand awareness, and drive revenue. One client, a financial institution, prides itself on customer service and trust but wasn’t getting an ROI they were happy with. Amplifinity helped them integrate a program that:
- Offered the client’s employees and customers rewards for each new account opened
- Used multiple touchpoints and outreach methods to increase the likelihood of enrollment
- Gave the client the ability to easily track and manage all aspects of the program through one system
- A continual increase, month-to-month, in successful referrals and customer acquisition
This is just one example of what a strong referral program to do. To learn more about how to best run your company’s referral program, click here to download our free whitepaper, “Amplifinity’s Best Practices For Running a Successful Referral Program”.