Problem: The customers who love your brand are having a hard time sharing it with their friends and family.
Solution: Referral Program 👋
92% of consumers believe suggestions from friends and family to be more impactful than advertising.
Word of mouth is the primary factor behind 20% to 50% of all purchasing decisions. – McKinsey
1 offline word of mouth impression drives sales at least 5x more than 1 paid, and much more (as much as 100 times more) for higher-consideration categories. – WOMMA
Chances are you have ravings fans that are spreading the word, but what about the majority of your customers? Implementing a referral program rewards customers for sharing your products and services far wider.
Time: A week to research the best tool, ideate rewards, and implement the software to facilitate and scale this tactic.
Results: Depending on your current size, potentially a 5-30% bump to revenue and a 50% increase in purchases from word-of-mouth referrals.