Referral marketing strategies have changed over the years. With the evolution of web based technology, people no longer refer to referral marketing as simply “word-of-mouth marketing” anymore. Between the introduction of social media platforms and digital based referral programs, to the constantly growing ecommerce industry, online referral marketing has become a competitive tool for generating new business.
There are many benefits to integrating online referral marketing into your overall marketing strategy. For example, it allows you to track your customer behavior online via web browser cookies or comparable technology. In doing this, you and your marketing team will gain a better understanding of your target customer and how to best leverage your referral marketing campaign and any potential incentives it may include.
Ultimately, online referral marketing can help increase brand awareness, referrals, and revenue if done strategically. Let’s take Uber for instance. Uber has a solid service, an incentive for the referrer as well as the new customer, an easy-to-use referral process, and the ability to try it for free.
Founded in 2009, Uber has quickly become one of the most successful examples of online referral marketing in decades. With more than 8 million users and an average of one million rides per day in 70+ countries and 400+ cities across the globe, it is safe to say Uber’s referral strategy worked and is continuing to work.
For more examples of successful online referral marketing models visit ReferralCandy,com, which is an automated customer referral program that can help you create brand awareness, drive referrals and in affect revenue.
The beautiful aspect of a referral marketing strategy, is that once you have it setup and in place, your consumers will end up doing the bulk of the work for you as long as you uphold the quality of your product or service.
Because let’s be honest, the key behind every referral, incentivized or not, is a quality product or service that consumers can get behind.