It can be a bit confusing with so many possible names – Referral Marketing, Word of Mouth, Reference – but it is very simple to understand.
It is nothing more than a person recommending a company's product or service to other people.
Anyone who thinks that there are restrictions on the use of this strategy for a specific segment or type of company, for example, is mistaken. It can be carried out by B2B and B2C companies in all segments and activities.
Later on, we will present many advantages that you can have when using it in your business. But do you want an example of how it really works?
Here at Adove, 80% of our prospecting leads come through referrals!
So I ask you: is it possible to leave this strategy bahamas whatsapp data aside, especially since it doesn't require large costs?
What types of indications are there?
Women talking and laughing
Within Referral Marketing, we can find 3 types that you can use in your business. We will explain them below.
Internal Referral Marketing: is practiced when managers and employees refer the company to people in their own circle of contacts
External and Organic Referral Marketing: This is the pot of gold at the end of the rainbow. It occurs when a customer is satisfied with your company's products or services and starts referring their network of contacts (acquaintances, friends and family)
External and Paid Referral Marketing: this format has been gaining ground in the digital world and occurs when a company finds a representative for the brand who has a connection with it and then establishes a partnership. In short, we are talking about digital influencers. Here, it is important to analyze this influencer in depth in order to know if he/she understands your product/service and if the audience he/she deals with is related to the customers you serve and want to serve.
Why invest?
We know that financial issues are often a decisive factor in whether or not a strategy is implemented.
So, the good news is that Referral Marketing is a free strategy (except for one point that we will discuss later). Since your customers are the propagators of your brand, there is no need for investment.