Running effective referral programs: The formula for success.
While not all effective referral programs yield the same results, there are some steps you can take to set your brand’s referral program up for success. Long story short, your goal is to help your brand ambassadors help you.
In order to build a successful referral program, let’s start with a few basic questions:
1. Are you manually enrolling brand ambassadors into your program?
2. How do you manage referral activity – with spreadsheets and multiple documents, or via a dedicated referral marketing platform?
3. Do you have a strategy in place to track and measure referrals?
4. Are you modeling your program — if you have one at all — after proven best practices?
5. Are you leveraging the right technologies to optimize your campaigns, scale your program, and drive referral ROI as high as possible?
Ultimately, referral marketing is most valuable when you’re able to easily amplify results without also proportionately amplifying internal resources. With the right tools, capabilities, and systems in place, achieving efficiency at scale is quite possible.
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