When you buy products, especially through an online store, have you ever been asked to enter a referral code which is not mandatory? When the code is entered, you and the person who has the code can get attractive offers from the seller. Well, in the world of marketing, this strategy is known as a referral program.
Through the referral program, you will expand the business reach of your existing customers. Because as we know, references from people closest to them are one of the factors that make someone decide to shop. You could say, this strategy is similar to the way of word of mouth promotion, but there is an addition in the form of special offers.
Indeed, the referral program is one of the most effective tricks to boost sales. However, what kind of businesses can implement this strategy? Of course, all business sectors can, whether it is a micro-scale business or enterprise.
Now, for the referral code offer itself, there are usually various kinds, ranging from bonus purchase points, direct prizes, to price discounts. Of course, offers like this are very attractive, aren’t they? But it’s not just customers who benefit from the referral program, because you too can feel a lot of positive impacts.
Someone who gets product recommendations from the people closest to him will certainly feel more confident. So, even if it’s done on a small scale, this promotional strategy can have a big impact, especially if there are many customers who refer your product.
When you provide a referral code for customers, then you can do promotions practically. You see, the referral code will be shared on channels such as social media or chat applications. And of course, this promotion runs more effectively because potential buyers know your product from the people closest to them.
When customers refer your products to their coworkers, family, or friends, of course your customers will explain the reasons why your product is a must buy. Hence, indirectly this referral program helps you to find potential customers.
As a priority in business, of course you have to give appreciation to customers. Well, this referral program can be a way for you to express your gratitude to customers. For example, you can share their enthusiasm for the referral program they share with those closest to them.
The referral program is not just a program that can provide special offers to customers, but also a program that shows that your business has a good reputation. Because basically, a product will not be referenced if the product does not have a satisfactory quality.
As a business actor, you must already know that you need the right strategy to retain customers. Not infrequently, retaining customers costs more than getting new customers. So, therefore, you can hold a referral program that can increase customer loyalty while saving your budget.
Referral programs can be a win-win solution for businesses and buyers so that the transaction experience becomes more enjoyable. What are you waiting for? Let’s immediately prepare your referral program and get ready for the arrival of many new customers!