Referrals are key to ongoing growth in any business, regardless of Enterprise size, industry, location, or market. While buying patterns and Buyer's choice modes have changed radically, the basic principles of human psychology have not changed at all. People are more likely to be influenced and buy from people they like and trust.
The truth about referral marketing only prove this long-held belief: people are more likely to buy when referred by a friend, the lifetime value of referred customers is often higher, and customers who visit a referral page take action.
But with all this knowledge about the value of referrals, only a few companies have a formalized referral program, meaning the majority of brands have a significant untapped growth opportunity sitting right in front of them.
We have laid out the best practices and principles for creating customer referral programs that drive growth. broken down into areas like targeting, rewards, promotions, and user experience. If you have read this feature, you are entitled to our Rewards program, participate in our promotions and gain some great insights and user experience.
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