The top 10 referral marketing strategies to grow your business

Growing your business doesn’t need to be hard. You can use referral marketing. In this article, you’ll learn ten strategies on how you can use referral marketing to grow your business.

Use Referral Software

The first step in getting more referrals in your business is to have a referral program. But you can only have a formal program if you have a system for it. For that, referral software can help you. This tool can help you create a referral system in your business website with a single click. This tactic is better than coding the referral system from scratch.

Have a Coveted Referral Incentive

The next factor that you must consider is your referral incentive. While creating your referral program is comfortable with the software. You still need to choose your referral incentive carefully if you want to attract more leads to your site using your program. It is a good thing that your customers are the best source for this information. You will be able to get to know the incentive they are interested in once you ask them. You can do this in two ways. You can ask them directly, or you can launch an online survey. This strategy will give you some ideas on the best types of incentives that you should establish.

Transform it into a Contest

If you want more people to be interested in your referral program, you will do well if you transform it into a contest. Although this option will require you to have a prize on top of your referral incentives, you will still need to know how to make the game easy and accessible to your target audience. Creating a contest is one thing but attracting people to join is another. You will need to have premium prizes to get people into your game.

Note: This tactic works exceptionally well for affiliate programs. With this tactic, you can attract some of the best affiliates in the industry. It can then result in an endless stream of sales.

Integrate your Affiliate Program

As mentioned, you can also do well in promoting your site with affiliates. Affiliates are different from referrers because they are marketers instead of customers who have personally used your products and services. While their testimonial may not be as strong as the affiliate, it doesn’t mean that affiliate promotions are not as powerful. With their knowledge and experience in promoting offers online, they may be more effective in promoting products and services online.

Reward Milestones

Another approach is to reward milestones. This is where you give out prizes when your referrers managed to meet a certain number of referrals. So if they managed to get 50 referrals to your business, it would automatically unlock a prize. Although this may require a bonus on your part, it is a great way to encourage your target market to promote your business. They have that extra incentive to motivate them to take action and encourage you to more people in their inner circle.

Share Client Stories

Getting referrals is not limited to software. It is all about encouraging your target market to talk about your brand with their family and friends, even if there are no incentives involved. One of the ways you can enable this to happen is to share client stories with other people. When you do this, your client or customer will usually be too happy that they got featured that he will automatically transfer it with their family and friends. If you do this enough times, you can then attract more people to your business.

Surprise your Prospective Customers

You can also get your customers to talk about your business if you surprise them. There is something about the element of surprise that gets people to share their unique experiences with others. For this tactic, you have to be creative. It is not enough that you use the other strategies that your competitor is using. You need to have a system that will convince your customers to share their experiences with others.

Create an Exclusive Influencer Marketing Program

You may also want to include influencers in your online marketing promotions. You can easily do this if you have a referral program. You can create an exclusive referral program for them, and they will be more than happy to promote you. The good thing about having a referral program is you already have a reward for his followers. This tactic is more effective because you are not merely asking the influencer to promote you. You are asking him to share a fantastic opportunity instead. That is different, and this is the reason why it is so effective. You must include the brand name of the influencer on your referral page. It will make it more targeted to the influencer’s audience.

Reward Social Media Shares

You may also want to include social media shares in your promotions. Social media, after all, is a beautiful tool for promoting your business. Many people are on there, and most of them are waiting for your product or service. From here, it is all about reaching the right people. You can do this in your referral program by encouraging social media shares. When your customers start sharing your business with others, more people will know your name, and you inevitably get more traffic and sales.

Track the Performance of Your Efforts

If you want to know if your referral program effectively grows your business, you have to track it. You don’t even need some fancy performance marketing software for this process. You can use the metrics dashboard that comes with your referral software. Referral software like GetAmbassador has this, and you need to access it to see your referral software's overall performance.

If you are still looking for ways to promote a Shopify store or other eCommerce store, this is it. Websites like Drum Set Lab and Hunting Bow Lab are using referral marketing to promote their business, allowing them to get many targeted leads. It is about time that you do the same for your business as well.