We all know that satisfied customers spreading the word about your product or service, always works more effectively than traditional channels like advertising or press coverage to attract higher quality customers. Moreover, it costs you less and works like a chain reaction with every new satisfied customer. Using appropriate strategies, namely a sound referral program, you can influence such referrals and get more brand ambassadors for the business. When it comes to finding efficient referral marketing software for SMBs, here are a few things you need to watch out for:
Simplicity and Ease: Your customers are bound to lose interest in referring if it’s a long, extensive process, and the offers/rewards are not ‘worthy’ enough. So it should be very simple and easy for your customers to register and share their brand experience with their network and for you to manage the allocation of coupons to referred customers and to reward them right away.
Automation and the ability to easily set up and promote the referral program on various channels like In-store, website, newsletters, SMS, email lists, social media (Facebook, Twitter, LinkedIn, Pinterest), mobile apps, etc and in multiple languages if possible, thus widening your program reach.
Support and Flexibility: Should provide ample support for overlays, tell-a-friend widgets, inline links, emails, microsites, and social media referral apps. Also, you can test and tailor the emails, graphics, incentive structures, search options, coupon landing pages as per your demographics requirements.
Real-time tracking and insights to detailed analytics: You can log in any time to track, measure and monetize statistics like number of invitations sent across/read by customers, share/click-through rates, referral channels, actions & conversions, revenue data, customer profiles, social graphs, etc. Some referral tools also allow the referrer who signs up for the program to be able to check her own referral statistics.
Effective communication: A successful referral program should actively engage your customers. It should remind your customer base of its constant value and encourage them to continue to take part and benefit.
Dedicated support from the account managers and back-end team who have an in-depth knowledge about the program.They can monitor, review, and guide you in optimizing your program against industry standards.
Suspicious activity metrics: The customer referral program should be safeguarded from any kind of fraud and gaming keeping the referral experiences pleasant one for the customers.
After you consider the above mentioned aspects, you can now evaluate how well your existing referral program works for you and the specific areas where it needs improvement. Maybe it is time for a bit of tweaking and customizing or going for a brand new referral marketing software to organize and expand your business.