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Referral Programs Made easy for Your Business

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Currently, with the explosion of social media (Facebook, Twitter, LinkedIn, Google +, Pinterest, etc) in the age of information, people share more and every day online. Sharing is not new, it is part of human nature (POS 2014). We share to: bring valuable and entertaining content to others; to define ourselves to others; to grow and nourish our relationships; for personal fulfillment; to spread the word about causes and brands. What has changed are the means and the conditions in which we share, every day we share more using more networks, more people, more often and faster.

This unique situation allows companies to turn their customers into advocates of their products through social media. Implementing a referral program is the ideal channel for this purpose. It is known that the conversion rate of customers acquired through referrals is 3 to 5 times higher than the one in customers acquired by other channels (AMA). Furthermore, the average value of a referred customer is 16% greater than that of a non referred customer.

Social media are playing an important role in this new space, because people are not only sharing information using traditional channels, but each day they share more with friends online using these platforms. Companies now have the opportunity to identify customers, employees and partners with high fidelity and turn them into social advocates. These are going to start promoting their products spontaneously in social media to get a bonus after a valid referral. The way advocates recommend your products or services is sending their fellow recommendations by e-mail, instant messages, personal URLs, tweets, posts, shares, etc. and the way a referral is generated is by monitoring and linking the referred customer with his referrer.

Why Do I need a Referral Marketing Program For My Business?

There are several reasons why every business should implement referral programs to convert its customers, employees and partners into products or services advocates.

- 92% of people rely more on recommendations made by friends and family than those made by any other form of marketing.
- The average value of a referred customer is 16% higher than that of a nonreferred customer (AMA).
- Customers can easily share promotional content on Facebook, Twitter, Google +, LinkedIn, Pinterest, via Email, Chat, print media, etc.
- Referred customers have higher retention rate and this difference persists over time (AMA).
- 43% of people are likely to buy a product when they have researched the product on social media (Nielsen).
- Referral programs and affiliate partners can improve your business relationships.
- 81% of U.S. online consumers’ purchase decisions are influenced by their friends’ social media publications.
- Referral marketing programs help increase content generation in social media, which helps to improve the position of your website in search engines (SERP). Search engines like Google and Bing

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Referral Programs Made easy for Your Business

  1. 1. REFERRAL MARKETING PROGRAMS Made easy for your business © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  2. 2. Table of Contents ❖ Introduction ❖ Why do I need a Referral Program? ❖ The Referral Program Process ❖ Best Practices ❖ Conclusions © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  3. 3. INTRODUCTION © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  4. 4. Introduction ❖ With the explosion of social media (Facebook, Twitter, LinkedIn, Google +, Pinterest, etc) in the age of information, people share more and every day online. ❖ This unique situation allows companies to turn their customers into brand advocates through social media. ❖ Implementing a Referral Program is the ideal channel for this purpose. © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  5. 5. WHY DO I NEED A REFERRAL PROGRAM? © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  6. 6. Why Do I Need a Referral Program? Referred Customer has Higher Retention Rate Referred Customer Regular Customer Referred Customer has Higher Value Referred Customer Regular Customer 16% 92% 70% 58% 47% 33% © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  7. 7. Why Do I Need a Referral Program? Referral programs for affiliates and partners can help improve your business relationships. Help to increase content generation in social media, which helps to improve the position of your website in search engines (SERP). © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  8. 8. THE REFERRAL PROGRAM PROCESS © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  9. 9. 1- Company Launches a Referral Program REFER OUR SERVICES AND EARN BONUSES Earn $10 when your friends sign up in our website Customer Referral Program 1 2 3 $250 $500 $750 $1000 Friends don't let friends drive bad cars! 5 Refer a Friend Earn $50 Account Credit For every friend you refer that purchases our subscription we will add $50 dollars to your account. © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  10. 10. 2- Customers Get Interested in the Offer and Participate REFER OUR SERVICES AND EARN BONUSES Earn $10 when your friends sign up in our website Use these tools to spread the voice 1: Click on the network to start sharing 2: Send an email to your friends Send Enter the email to send Enter the list of emails Hi [friend], Your friend John asked us to recommend you this product... 3: Share your personal URL with your friend https://gr3f.co/cl/406e93199/143228 © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  11. 11. 3- Advocates Share Products/Services With Friends John Smith Take advantage of this super-sale! Save 40% on your entire purchase using my link this weekend https://gr3f.co/cl/406e93199/143228 March 19 © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  12. 12. 4- Friends Receive Recommendations Friends, take advantage of the sale offer and instantly start participating in the referral program. © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  13. 13. 5- The Referral Program Grows Over Time © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  14. 14. BEST PRACTICES © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  15. 15. Involve Everyone in This Process © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  16. 16. Use All Available Touchpoints © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  17. 17. Transparent Integration Process Client Page x Referral Program ❖ Keep the program within your domain. ❖ Implement local pages to display information related to the program. ❖ Allow your advocates to redeem their bonuses and monitor the growth of their program directly from your website. © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  18. 18. Create Fixed or Variable Incentives $5 per referral for first 5 referrals. $8 per referral from the fifth referral. $10 per referral from the tenth referral. # of referrals © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  19. 19. Keep Your Referral Program Healthy ❖ Monitor the performance ❖ Analyze the statistics ❖ Optimize your program as needed © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service
  20. 20. Conclusions At Genius Referrals, our mission is to provide the necessary tools and the ideal integration environment that your company needs to build a referral marketing program easily, at low cost and without having to spend large amounts of resources. © 2014 Genius Referrals. All rights reserved. Privacy Policy | Terms of Service

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