Referrals have proven to be one of the most valuable forms of marketing. Not only do most of us look to others for product and service recommendations, but these recommendations also come with a high level of trust.
Here are some interesting facts about referrals:
- Customers are 4x times more likely to purchase when their friends refer them.
- The lifetime value of referrals is 16% higher than customers acquired through other channels.
- Referrals have an 18% lower churn rate than other customers. They’ll stay longer with your store.
- Referrals can increase your revenue by 16%.
About today’s guest
Raúl Galera is the Chief Advocate at ReferralCandy, an app that allows eCommerce brands to set up and run customer referral programs.
ReferralCandy is the leading platform in terms of referral marketing for eCommerce brands. Founded over 10 years ago, ReferralCandy has helped over 30,000 brands leverage the power of word-of-mouth and turn their customer base into their marketing team.
Some of the questions we ask:
- What is referral marketing and why is it so powerful?
- What’s ReferralCandy and what businesses is it for?
- What are the main ways brands can reward their customers for referrals?
- What is the referral workflow?
- How can referral programs help brands overcome the post-holiday sales slump?
- What are the biggest referral marketing mistakes brands make?
Links mentioned in this episode
Meet your host
Podcast host, marketer, traveller and a life lover from Vancouver, Canada
When she’s not at her computer, conquering the world of e-commerce email-marketing, you can find her climbing one of the Pacific Northwest Ranges.
Alternatively, try her email at firstname.lastname@example.org, and she’ll probably shoot you back a list of her favorite cat videos.