Study after study has proven that Referral Marketing is one of the best forms of marketing when it comes to sales and conversions. The lifetime value of customers acquired via Referral is 26% higher than the average acquisition channel.
Referral marketing, sometimes also called word-of-mouth marketing, is just people purchasing products based on someone else's opinion or influence. It's a powerful marketing channel because people trust the opinions of other people in their lives and people they respect, whether that be family, friends, social media influencers or big stars.
Uber, Dropbox or Airbnb owe their success to referral marketing. The strategies these companies used to solve one of their acquisition challenges are not exclusive to their business model. In fact, they would work just as well for online retailers.
Join us on October 18th to Learn The Ins And Outs Of Referral Marketing.