When was the last time you bought a product or item that was recommended to you by friends or family? This kind of situation happens frequently and these recommendations have a strong influence on purchasing decisions.
This article covers the following points:
According to a Nielsen study , the majority of c vietnam whatsapp number data onsumers (83%) trust recommendations from friends or family more than advertisements. The strong influence of recommendations from trusted sources is why more and more businesses are starting to leverage referral marketing.
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Referral marketing is a word-of-mouth marketing strategy that builds a company’s audience by tapping into its existing customer networks. It is a promotional strategy bzb directory in which a company encourages its customers to recommend it to their friends, family, and others in their social circles.
What is referral marketing?
While word-of-mouth occurs on its own (when someone simply speaks highly of a product, store, or brand they like and recommends it to others), referral marketing specifically refers to a marketing strategy whereby companies intentionally generate referrals.
What is a referral program?
A referral, sponsorship or brand ambassador program is a method of systematically encouraging consumers to recommend your business in exchange for certain incentives, such as financial rewards, discounts, free products, etc. The nature of the incentives depends on the type of business and the products or services it offers.