5 Reasons To Bet On Recommendation Marketing In Your Business
75% of companies that use a referral program say that it is the cheapest system to get new customers and that it will soon be a trend.
While it is true that the Internet has facilitated free access to information, at the same time it has caused “infoxication” among users. The information overload to which we are subjected on a daily basis makes it very difficult to make purchasing decisions. Going back to the origins, to word of mouth, is an alternative to address the problem that is gaining strength at the present time.
According to a Nielsen report, 92% of consumers trust recommendations from people they know. In addition, a study by Industry Research “2019 State of Referral Marketing” highlights that 30% of companies already have a referral program and 75% of those who use it, say it is their lowest cost method to acquire New customers. As if that were not enough, that figure jumps to 82% among those who refer through SaaS or external providers, such as applications or websites.
In short, if according to the results it is an upward trend, then what are the reasons that prevent more betting on reference strategies? 25% say they don’t have time, 20% say they don’t have marketing resources, and 50% don’t know how to get started.
5 beneficial reasons to incorporate a referral program in your business:
- Its operation is easy : The company’s sales protocol or its marketing plan are not altered. It requires no time or effort. Providers do the rest. Fulltip, for example, provides referrers who recommend customers potentially interested in the product. Your only task will be to talk when they contact you.
- ROI is increased : Sales cycles are reduced and marketing spending is more controlled because it is focused on a single action, recommending.
- Quality prescribers : You have the guarantee that you will access more satisfied customers since they start from a previous interest in your product and good references from someone you trust. It is true, the final sale will depend on our commercial ingenuity but, without a doubt, this paves the way quite a bit.
- Boost visibility for your brand : Each user who enters your partner’s application will be indirectly accessing your brand information and all the impacts generated by the app will be linked to your brand.
- A system tailored to you : Commercial proposals can be personalized thanks to the extensive information obtained from the client interested in the product or service and the knowledge of the ambassador who recommended it.