MAHA Global and IPR: Do Actions Speak Louder Than Words?
Referral Marketing
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Editor's Notes
Welcome to NextBee media’s online marketing brownbag. We have created this short video as a webinar for businesses in our community that use our software platform for their word of mouth marketing campaigns. We hope everyone involved in the online marketing field finds this introduction helpful. If you have any questions about the content covered in this session or would like to know more about NextBee media and how we can help you get the most from your word of mouth campaigns, then please, feel free to call us at 415 738 8290 or visit us at NextBee.com.
In this presentation we will look at referral marketing, the cost and time required, along with the execution details, tips, and alternatives in running your campaign.
Introduction to referral marketing Referral marketing is a form of word of mouth marketing in which people are encouraged to recommend products and services for a certain company in exchange for commissions, fees, discounts, prizes, or other rewards.
Cost and timeframe The only real cost is what is given away. The costs for a referral program are whatever you decide them to be, but obviously the scale of the program should be in line with the size of your company. Setting up referral programs is quite easy and shouldn't take much time to set up, but waiting for the word to spread and for results to show can take a bit of time.
Action plan The only real work that referral marketing requires is to come up with a plan which fits your demographics, and offers rewards that are tempting enough to entice people to refer friends and other customers. You can also think about joining a larger program, such as Nextbee to get the word out about your new strategy.
Tips and tactics One of the most simple forms of referral marketing can be something as simple as handing out business cards. Customer service is also an extremely important - perhaps the most important aspect to have a successful referral marketing campaign. Remember, be quick in payments and responses.
Alternatives to consider Running contests to generate new leads is another way to keep people interested in your company, and to generate excitement.
We hope this video has answered key questions you have in mind. Incase you have further questions then please visit us at NextBee.com.
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