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By miguel-ingles
- In Uncategorized
Nowadays, in order to be successful in business, you need to know how to gain the potential clients’ trust. However, this may be difficult for companies with a small budget for adverts. In this article, I will make a guide with the most important topics about referral marketing in the UK.
What is Referral Marketing?
Referral marketing is a commercial tactic whose main aspect is the recommendations of a satisfied client with the services of a business to friends and family. In other words, the consumers themselves will create a brand awareness campaign for a corporation. To do so, it will offer certain rewards to these people that speak positively about the enterprise to others or in review pages about its products and services.
Such types of campaigns bring several benefits. Firstly, they allow a company to attract a wider and higher-value client base than with traditional advertising. Secondly, they improve the public rating of the business and make the clientele more loyal. They also permit customers to share some feedback about what the enterprise offers. At last, this is one of the most affordable ways someone can advertise their company.
For all the previous reasons, this is one of the more effective and efficient ways of marketing. It is especially useful for small and medium-sized corporations, which do not usually have large budgets for publicity.
The Best Strategies for Referral Marketing in the UK
Exclusive Rewards
Giving rewards can be a tough decision, principally if the company’s finances are not prosperous. Nevertheless, it will make the referral process easier and improve the loyalty of the customers towards the brand.
There are plenty of different possible incentives: exclusive discounts, special edition presents or creating a point system, in which clients will redeem benefits and services. An example of the latter is the one that the petrol company BP offers. In this link you can check how it works.
You can also give new clients an incentive, so, in this way, they will recommend the business to another new person.
Personalise Customer Experience
Adapting commercial communication to the characteristics and expectations of a user may help to build loyalty with the current clientele and encourage them to recommend the company to family and friends. Another option would be to personalise the rewards depending on their previous purchase record. To do so, you need to have specific software and expert employees in data processing.
Show the Positive References as Much as Possible
As previously explained, the referral marketing core is the word of mouth. However, social media are the perfect shop window in which to show the client’s satisfaction with the products and services of a company to potential customers.
A business should display these positive reviews in its webpage, in social media and in any place that is visible for people.
Other advisable tactics are to make active promotion of the referral program, to show the clients that you hear their comments and having reference templates, so the customers do not lose time and, perhaps, the desire of writing a review.
Differences between Affiliate and Referral Marketing in the UK
The public perception is that affiliate and referral marketing are the same concept. Nonetheless, they are different tactics that are used in diverse contexts. These are the aspects that distinguish them.
- In affiliate marketing, clients that draw other people to the company using links usually receive some economic compensation. This is not the case with referral marketing. In its place, customers will get discounts or benefits in their next purchase.
- Affiliate marketing in common in social medial and its reviews are directed to a large customer base. In referral marketing, however, clients recommend the business to family and friends.
- The communication in affiliate marketing is done through social medial, especially using links and banners. In the referral one, the contact will be through the word of mouth or via review pages.
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