SlideShare a Scribd company logo
1 of 7
Download to read offline
SUPERCHARGE YOUR
ONLINE BUSINESS WITH
REFERRALS
◊	Focus on your business and let your brand
advocates drive your marketing message.
www.forewardsapp.com | facebook.com/forewardsapp | twitter.com/forewardsapp
Supercharge Your Online
Business with Referrals
Focus on your business and let your brand advocates
drive your marketing message
TABLE OF CONTENTS
What is the problem you’re
solving? ..................................2
You’ve got your own
problems ...............................3
Surely there’s someone
who can help ...................3-4
What makes for a great
referral tool? .....................4-5
Putting it all together.........6
Whether it’s Amazon or eBay, Beyond the Rack or Birchbox, the world of
e-commerce is blowing up. Even the analysts agree on this. Research now
shows that ecommerce is out pacing (and some might even say... destroy-
ing) brick and mortar retail. In fact for the first time ever in 2013 black Friday
sales on-line outpaced brick and mortar.
So the question you probably have is...
I’m running an on-line business
right now, but how can I get a
piece of this pie?
The reality is that what sepa-
rates the winners from the losers
in e-commerce has nothing to
do with product selection or
technology. It has EVERYTHING
to do with MARKETING!
But that’s the problem: when you’re an on-line businessperson, your pride
lies with the products you sell and in the service and experience you offer
your customers. Becoming an expert marketer isn’t what you signed up for.
Besides, you probably never even liked marketing people anyway!
Well the good news is that in the digital world, there are some simple strat-
egies and tools you can use to take the stress out of marketing and really
SUPERCHARGE your e-commerce business.
Supercharge Your Online Business With Referrals Page 1
Let’s start with some basics –
What is the problem you’re solving?
The first step to understanding marketing is to understand the problems
that marketing could help you solve.
When it comes to retail, both on-line and in person, there really are two
fundamental problems standing in the way of real, sustainable success.
Both of these can be addressed with better marketing... if you know how.
1.	 Get new customers
Everyone intuitively knows that marketing should get the ball rolling when
it comes to getting new customers through the door. But: marketing can be
a huge headache. Even in a digital world where tools and technology have
made a lot of things easier, marketing still isn’t.
Google AdWords, search engine optimization (SEO) and Facebook advertis-
ing… where do you start and will these things even work for you?
The short answer is YES, these on-line marketing strategies can all be ex-
ceptionally effective. BUT all these marketing strategies take significant
time and money to master. While the returns can be great, this time and
money is probably not at the disposal of many busy shop owners.
A retailer’s time is more often spent on their core competency - distribut-
ing great products and providing exceptional shopping experiences. As a
result they often get by with the bare minimum marketing efforts, resulting
in bare minimum results. This leaves many looking for a way to get more
marketing bang for their buck.
2.	 Keep the customers you already have
The key to growing any retail business is keeping a base of loyal, repeat
customers. In the on-line world of retailers it’s a bit trickier since you must
be able to do this without face-to-face relationships with clients. Marketing
can help fill in the gap through loyalty offers and customer incentives, but
setting up these kinds of program can also be quite overwhelming.
Supercharge Your Online Business With Referrals Page 2
What should I offer? Who should I offer it to? How can I manage this? When
should these programs run? How can I track this?
Instead of providing any answers many retailers are left with even more
questions once they start entertaining the idea of building loyalty. Often,
all smaller retailers need is an easier and more impactful way to make that
connection with their customers.
You’ve got your own problems to deal with:
Beyond the big problem of attracting new customers and keeping existing
customers, as an on-line entrepreneur you face your own set of challeng-
es as well. You wear many hats, and have many responsibilities. Sounding
familiar? You probably have:
1.	 NO TIME
The most valuable resource you have is time. While the insights you can
get through the endless reports and numbers associated with running your
on-line store are tremendously valuable, getting to this value can take a
tremendous amount of time and analysis. You just want to get to the point,
and probably don’t mind how you get there.
2.	 NO DESIRE FOR NUMBER CONFUSION
Even if you have the time to dedicate to reporting and analyzing all your
data, including your marketing data, you may not have the expertise re-
quired to use a complex reporting tool. Marketing programs should be
simple and easy to understand. Is the campaign working, or not, and what
areas can be fixed. Any tools you use should save you time, not cost you
more with confusing layouts and an avalanche of numbers and graphs.
Surely there must be someone who can help:
The good news is that there are many avenues you can take to relieve
some of the stress of marketing. Would you believe that perhaps your BEST
source of free marketing is your pool of existing happy customers?
“65% of new business
comes from customer
referrals”
- NY Times
Supercharge Your Online Business With Referrals Page 3
Did you know?
•	 65% of new business comes from customer referrals – New York Times
•	 People are 4X more likely to buy when referred by a friend – Nielsen
•	 The Lifetime Value of a referral customer is 16% higher – Wharton
School of Business
•	 83% of consumers are willing to refer—yet only 29% actually do – Texas
Tech
That’s the power of referrals, if you can utilize them properly. The interest-
ing thing about the on-line world is that every one of us has been condi-
tioned to share, comment, and tweet our thoughts on products and ser-
vices all day long. The trick for a retailer such as yourself is to see if you can
harness those conversations by skewing them in your favor.
The great news is that a number of tools or apps are now on the market
that do exactly that. There are a few things to keep in mind when looking
for a referral tool however.
What makes for a great referral tool?
There are really 3 key things to look for when shopping for a referral tool to
supercharge your on-line marketing:
1.	 K.I.S.S. (Keep It Simple, Stupid)
Referral or loyalty programs can be complex and confusing to build from
the ground up. Look for apps or services that offer an easy to use and easy
to install referral program out of the box. Native integration with leading
Supercharge Your Online Business With Referrals Page 4
shopping carts such as Shopify allow an on-line retailer like you to have
a fully functioning program up and running with only a few clicks of the
mouse.
One thing to be mindful of however is also how you define ‘easy’. It’s one
thing for a tool to offer easy campaign configuration, it’s another thing to
make it easy to build an effective campaign. Look for tools that don’t just
focus on easy setup but also help you with the tougher part of any market-
ing campaign (including a referral campaign) – targeting your marketing
message at the right customers, not just any customers. Great marketing
isn’t just about sending out a message, it’s about knowing how to craft a
compelling message to send. A good tool should help you as much with
the creative end of things as it does with the logistics of running a cam-
paign.
2.	 Broadcasting positive word-of-mouth through social media channels
Across all merchants, up to 65% of new business comes from referrals.
Better yet, the new customers who discover your store through a referral
are four times more likely to buy than others. A well thought out referral
platform will allow you, the on-line retailer, to create a network of pos-
itive referrals by leveraging the speed and reach of today’s customers’
preferred communication channel – social media. Studies have shown
that three-quarters of consumers polled have been influenced to make a
purchase by activities on social media (*Empathica, 2012) . Good referral
programs should do this by providing an easy and seamless way to ask for
recommendations from a retailer’s most natural advocates – paying cus-
tomers. Even better if they are active in social media!
3.	 Pay it forward
Making customers an active part of a retailer’s marketing and growth pro-
vides an inherent loyalty incentive. As consumers we’ve all experienced the
high of finding a great deal or an impossible to find product on-line. Many
referral platforms can take those moments and make them easy for custom-
ers to share with their own network of friends and family. If you can config-
ure your referral app to track the results of the referral activities and results,
customers could be invited to collect points or other loyalty rewards such
as discounts and free products. This kind of customer-led advocacy can turn
your great products and great shopping experience into a viral marketing
campaign.
Supercharge Your Online Business With Referrals Page 5
Putting it all together
Building a successful on-line business requires great marketing. But great
marketing doesn’t have to mean spending excessive time and money to be-
come a great marketer. Like many challenges, the secret is simple: knowing
where to look for help, and how to get it.
For your e-commerce business, the great news is there is a built-in source
for help with marketing. Turns out that source is an old-fashioned, tried-
and-tested concept: your own customers. The key is knowing how to lever-
age modern technology to make it easier to ask your happy customers to
provide you with some positive word-of-mouth and referrals. Better yet,
these days there are simple-to-use tools that can take those referrals and
spread those great messages across the internet, with just a few clicks of a
mouse (or taps of a touchscreen).
Now that you know, go out there and SUPERCHARGE your on-line business!
SUPERCHARGE:
(verb : sü-perchärj)
- To charge greatly or
excessively (as with
vigor or tension)
Supercharge Your Online Business With Referrals Page 6

More Related Content

Viewers also liked (16)

Nacionalne manjine (ii); zakon, vukovar
Nacionalne manjine (ii); zakon, vukovarNacionalne manjine (ii); zakon, vukovar
Nacionalne manjine (ii); zakon, vukovar
 
Gifts of the_spirit
Gifts of the_spiritGifts of the_spirit
Gifts of the_spirit
 
fashion crazii
fashion craziifashion crazii
fashion crazii
 
Sample seashells
Sample seashellsSample seashells
Sample seashells
 
DAKTARI Newsletter - October, November, December 2014
DAKTARI Newsletter - October, November, December 2014DAKTARI Newsletter - October, November, December 2014
DAKTARI Newsletter - October, November, December 2014
 
Newsletter January - February 2011
Newsletter January  - February 2011Newsletter January  - February 2011
Newsletter January - February 2011
 
Newsletter december 2010
Newsletter december 2010Newsletter december 2010
Newsletter december 2010
 
Valentine's day
Valentine's dayValentine's day
Valentine's day
 
The Secrets of a Great Strategy
The Secrets of a Great StrategyThe Secrets of a Great Strategy
The Secrets of a Great Strategy
 
Daktari Newsletter January-February 2012
Daktari Newsletter January-February 2012Daktari Newsletter January-February 2012
Daktari Newsletter January-February 2012
 
Escultures, Abans i ara, Aquí i allà
Escultures, Abans i ara, Aquí i allàEscultures, Abans i ara, Aquí i allà
Escultures, Abans i ara, Aquí i allà
 
Slimaxdiet3 presentation
Slimaxdiet3 presentationSlimaxdiet3 presentation
Slimaxdiet3 presentation
 
Shanthi celebrity advertising indian visual media.
Shanthi celebrity advertising indian visual media.Shanthi celebrity advertising indian visual media.
Shanthi celebrity advertising indian visual media.
 
Earth gb
Earth gbEarth gb
Earth gb
 
OpenWest Conference at UVU, Ruby on Rails and BDD
OpenWest Conference at UVU, Ruby on Rails and BDDOpenWest Conference at UVU, Ruby on Rails and BDD
OpenWest Conference at UVU, Ruby on Rails and BDD
 
Nobelpriset 2012
Nobelpriset 2012Nobelpriset 2012
Nobelpriset 2012
 

More from Jason Dea

Lean Canvas Basics
Lean Canvas Basics Lean Canvas Basics
Lean Canvas Basics Jason Dea
 
Winning the zero moment of truth with word of mouth
Winning the zero moment of truth with word of mouthWinning the zero moment of truth with word of mouth
Winning the zero moment of truth with word of mouthJason Dea
 
Forewards customer referral programs for ecommerce
Forewards   customer referral programs for ecommerceForewards   customer referral programs for ecommerce
Forewards customer referral programs for ecommerceJason Dea
 
Turn Your Passion Into a Business with Forewards
Turn Your Passion Into a Business with ForewardsTurn Your Passion Into a Business with Forewards
Turn Your Passion Into a Business with ForewardsJason Dea
 
3rd party feedback product launch webinar
3rd party feedback product launch webinar3rd party feedback product launch webinar
3rd party feedback product launch webinarJason Dea
 
What separates the winners from the losers 06 04 2012 final
What separates the winners from the losers 06 04 2012 finalWhat separates the winners from the losers 06 04 2012 final
What separates the winners from the losers 06 04 2012 finalJason Dea
 
Engaging millenials for financial services
Engaging millenials for financial servicesEngaging millenials for financial services
Engaging millenials for financial servicesJason Dea
 
Socializing the Retail Experience
Socializing the Retail ExperienceSocializing the Retail Experience
Socializing the Retail ExperienceJason Dea
 
Doing More with Less in Challenging Economic Times
Doing More with Less in Challenging Economic TimesDoing More with Less in Challenging Economic Times
Doing More with Less in Challenging Economic TimesJason Dea
 
Disaster recovery and the cloud
Disaster recovery and the cloudDisaster recovery and the cloud
Disaster recovery and the cloudJason Dea
 
Update Your Disaster Recovery Plans with Virtualization
Update Your Disaster Recovery Plans with VirtualizationUpdate Your Disaster Recovery Plans with Virtualization
Update Your Disaster Recovery Plans with VirtualizationJason Dea
 
New Platforms, New Technologies, Old Headaches
New Platforms, New Technologies, Old HeadachesNew Platforms, New Technologies, Old Headaches
New Platforms, New Technologies, Old HeadachesJason Dea
 
Jason Dea - Turning ideas into revenue
Jason Dea - Turning ideas into revenueJason Dea - Turning ideas into revenue
Jason Dea - Turning ideas into revenueJason Dea
 
DR Planning - Improving Recovery Time
DR Planning - Improving Recovery TimeDR Planning - Improving Recovery Time
DR Planning - Improving Recovery TimeJason Dea
 
50 migrations in 24 hours
50 migrations in 24 hours50 migrations in 24 hours
50 migrations in 24 hoursJason Dea
 
DR planning and testing
DR planning and testingDR planning and testing
DR planning and testingJason Dea
 
Disaster Recovery and the Cloud
Disaster Recovery and the CloudDisaster Recovery and the Cloud
Disaster Recovery and the CloudJason Dea
 
DR Planning and Testing
DR Planning and TestingDR Planning and Testing
DR Planning and TestingJason Dea
 
Virtual Disaster Recovery ROI
Virtual Disaster Recovery ROIVirtual Disaster Recovery ROI
Virtual Disaster Recovery ROIJason Dea
 
New Essentials of Disaster Recovery Planning
New Essentials of Disaster Recovery PlanningNew Essentials of Disaster Recovery Planning
New Essentials of Disaster Recovery PlanningJason Dea
 

More from Jason Dea (20)

Lean Canvas Basics
Lean Canvas Basics Lean Canvas Basics
Lean Canvas Basics
 
Winning the zero moment of truth with word of mouth
Winning the zero moment of truth with word of mouthWinning the zero moment of truth with word of mouth
Winning the zero moment of truth with word of mouth
 
Forewards customer referral programs for ecommerce
Forewards   customer referral programs for ecommerceForewards   customer referral programs for ecommerce
Forewards customer referral programs for ecommerce
 
Turn Your Passion Into a Business with Forewards
Turn Your Passion Into a Business with ForewardsTurn Your Passion Into a Business with Forewards
Turn Your Passion Into a Business with Forewards
 
3rd party feedback product launch webinar
3rd party feedback product launch webinar3rd party feedback product launch webinar
3rd party feedback product launch webinar
 
What separates the winners from the losers 06 04 2012 final
What separates the winners from the losers 06 04 2012 finalWhat separates the winners from the losers 06 04 2012 final
What separates the winners from the losers 06 04 2012 final
 
Engaging millenials for financial services
Engaging millenials for financial servicesEngaging millenials for financial services
Engaging millenials for financial services
 
Socializing the Retail Experience
Socializing the Retail ExperienceSocializing the Retail Experience
Socializing the Retail Experience
 
Doing More with Less in Challenging Economic Times
Doing More with Less in Challenging Economic TimesDoing More with Less in Challenging Economic Times
Doing More with Less in Challenging Economic Times
 
Disaster recovery and the cloud
Disaster recovery and the cloudDisaster recovery and the cloud
Disaster recovery and the cloud
 
Update Your Disaster Recovery Plans with Virtualization
Update Your Disaster Recovery Plans with VirtualizationUpdate Your Disaster Recovery Plans with Virtualization
Update Your Disaster Recovery Plans with Virtualization
 
New Platforms, New Technologies, Old Headaches
New Platforms, New Technologies, Old HeadachesNew Platforms, New Technologies, Old Headaches
New Platforms, New Technologies, Old Headaches
 
Jason Dea - Turning ideas into revenue
Jason Dea - Turning ideas into revenueJason Dea - Turning ideas into revenue
Jason Dea - Turning ideas into revenue
 
DR Planning - Improving Recovery Time
DR Planning - Improving Recovery TimeDR Planning - Improving Recovery Time
DR Planning - Improving Recovery Time
 
50 migrations in 24 hours
50 migrations in 24 hours50 migrations in 24 hours
50 migrations in 24 hours
 
DR planning and testing
DR planning and testingDR planning and testing
DR planning and testing
 
Disaster Recovery and the Cloud
Disaster Recovery and the CloudDisaster Recovery and the Cloud
Disaster Recovery and the Cloud
 
DR Planning and Testing
DR Planning and TestingDR Planning and Testing
DR Planning and Testing
 
Virtual Disaster Recovery ROI
Virtual Disaster Recovery ROIVirtual Disaster Recovery ROI
Virtual Disaster Recovery ROI
 
New Essentials of Disaster Recovery Planning
New Essentials of Disaster Recovery PlanningNew Essentials of Disaster Recovery Planning
New Essentials of Disaster Recovery Planning
 

Recently uploaded

Unveiling the Soundscape Music for Psychedelic Experiences
Unveiling the Soundscape Music for Psychedelic ExperiencesUnveiling the Soundscape Music for Psychedelic Experiences
Unveiling the Soundscape Music for Psychedelic ExperiencesDoe Paoro
 
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptx
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptxGo for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptx
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptxRakhi Bazaar
 
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdf
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdftrending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdf
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdfMintel Group
 
20200128 Ethical by Design - Whitepaper.pdf
20200128 Ethical by Design - Whitepaper.pdf20200128 Ethical by Design - Whitepaper.pdf
20200128 Ethical by Design - Whitepaper.pdfChris Skinner
 
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...Hector Del Castillo, CPM, CPMM
 
business environment micro environment macro environment.pptx
business environment micro environment macro environment.pptxbusiness environment micro environment macro environment.pptx
business environment micro environment macro environment.pptxShruti Mittal
 
Introducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applicationsIntroducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applicationsKnowledgeSeed
 
1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdfShaun Heinrichs
 
Appkodes Tinder Clone Script with Customisable Solutions.pptx
Appkodes Tinder Clone Script with Customisable Solutions.pptxAppkodes Tinder Clone Script with Customisable Solutions.pptx
Appkodes Tinder Clone Script with Customisable Solutions.pptxappkodes
 
Fordham -How effective decision-making is within the IT department - Analysis...
Fordham -How effective decision-making is within the IT department - Analysis...Fordham -How effective decision-making is within the IT department - Analysis...
Fordham -How effective decision-making is within the IT department - Analysis...Peter Ward
 
PSCC - Capability Statement Presentation
PSCC - Capability Statement PresentationPSCC - Capability Statement Presentation
PSCC - Capability Statement PresentationAnamaria Contreras
 
EUDR Info Meeting Ethiopian coffee exporters
EUDR Info Meeting Ethiopian coffee exportersEUDR Info Meeting Ethiopian coffee exporters
EUDR Info Meeting Ethiopian coffee exportersPeter Horsten
 
Technical Leaders - Working with the Management Team
Technical Leaders - Working with the Management TeamTechnical Leaders - Working with the Management Team
Technical Leaders - Working with the Management TeamArik Fletcher
 
Interoperability and ecosystems: Assembling the industrial metaverse
Interoperability and ecosystems:  Assembling the industrial metaverseInteroperability and ecosystems:  Assembling the industrial metaverse
Interoperability and ecosystems: Assembling the industrial metaverseSiemens
 
Excvation Safety for safety officers reference
Excvation Safety for safety officers referenceExcvation Safety for safety officers reference
Excvation Safety for safety officers referencessuser2c065e
 
Welding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan DynamicsWelding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan DynamicsIndiaMART InterMESH Limited
 
Driving Business Impact for PMs with Jon Harmer
Driving Business Impact for PMs with Jon HarmerDriving Business Impact for PMs with Jon Harmer
Driving Business Impact for PMs with Jon HarmerAggregage
 
Memorándum de Entendimiento (MoU) entre Codelco y SQM
Memorándum de Entendimiento (MoU) entre Codelco y SQMMemorándum de Entendimiento (MoU) entre Codelco y SQM
Memorándum de Entendimiento (MoU) entre Codelco y SQMVoces Mineras
 
WSMM Media and Entertainment Feb_March_Final.pdf
WSMM Media and Entertainment Feb_March_Final.pdfWSMM Media and Entertainment Feb_March_Final.pdf
WSMM Media and Entertainment Feb_March_Final.pdfJamesConcepcion7
 

Recently uploaded (20)

Unveiling the Soundscape Music for Psychedelic Experiences
Unveiling the Soundscape Music for Psychedelic ExperiencesUnveiling the Soundscape Music for Psychedelic Experiences
Unveiling the Soundscape Music for Psychedelic Experiences
 
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptx
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptxGo for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptx
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptx
 
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdf
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdftrending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdf
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdf
 
20200128 Ethical by Design - Whitepaper.pdf
20200128 Ethical by Design - Whitepaper.pdf20200128 Ethical by Design - Whitepaper.pdf
20200128 Ethical by Design - Whitepaper.pdf
 
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
 
business environment micro environment macro environment.pptx
business environment micro environment macro environment.pptxbusiness environment micro environment macro environment.pptx
business environment micro environment macro environment.pptx
 
WAM Corporate Presentation April 12 2024.pdf
WAM Corporate Presentation April 12 2024.pdfWAM Corporate Presentation April 12 2024.pdf
WAM Corporate Presentation April 12 2024.pdf
 
Introducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applicationsIntroducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applications
 
1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf
 
Appkodes Tinder Clone Script with Customisable Solutions.pptx
Appkodes Tinder Clone Script with Customisable Solutions.pptxAppkodes Tinder Clone Script with Customisable Solutions.pptx
Appkodes Tinder Clone Script with Customisable Solutions.pptx
 
Fordham -How effective decision-making is within the IT department - Analysis...
Fordham -How effective decision-making is within the IT department - Analysis...Fordham -How effective decision-making is within the IT department - Analysis...
Fordham -How effective decision-making is within the IT department - Analysis...
 
PSCC - Capability Statement Presentation
PSCC - Capability Statement PresentationPSCC - Capability Statement Presentation
PSCC - Capability Statement Presentation
 
EUDR Info Meeting Ethiopian coffee exporters
EUDR Info Meeting Ethiopian coffee exportersEUDR Info Meeting Ethiopian coffee exporters
EUDR Info Meeting Ethiopian coffee exporters
 
Technical Leaders - Working with the Management Team
Technical Leaders - Working with the Management TeamTechnical Leaders - Working with the Management Team
Technical Leaders - Working with the Management Team
 
Interoperability and ecosystems: Assembling the industrial metaverse
Interoperability and ecosystems:  Assembling the industrial metaverseInteroperability and ecosystems:  Assembling the industrial metaverse
Interoperability and ecosystems: Assembling the industrial metaverse
 
Excvation Safety for safety officers reference
Excvation Safety for safety officers referenceExcvation Safety for safety officers reference
Excvation Safety for safety officers reference
 
Welding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan DynamicsWelding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan Dynamics
 
Driving Business Impact for PMs with Jon Harmer
Driving Business Impact for PMs with Jon HarmerDriving Business Impact for PMs with Jon Harmer
Driving Business Impact for PMs with Jon Harmer
 
Memorándum de Entendimiento (MoU) entre Codelco y SQM
Memorándum de Entendimiento (MoU) entre Codelco y SQMMemorándum de Entendimiento (MoU) entre Codelco y SQM
Memorándum de Entendimiento (MoU) entre Codelco y SQM
 
WSMM Media and Entertainment Feb_March_Final.pdf
WSMM Media and Entertainment Feb_March_Final.pdfWSMM Media and Entertainment Feb_March_Final.pdf
WSMM Media and Entertainment Feb_March_Final.pdf
 

The Secret to a Great Customer Referral Program

  • 1. SUPERCHARGE YOUR ONLINE BUSINESS WITH REFERRALS ◊ Focus on your business and let your brand advocates drive your marketing message. www.forewardsapp.com | facebook.com/forewardsapp | twitter.com/forewardsapp
  • 2. Supercharge Your Online Business with Referrals Focus on your business and let your brand advocates drive your marketing message TABLE OF CONTENTS What is the problem you’re solving? ..................................2 You’ve got your own problems ...............................3 Surely there’s someone who can help ...................3-4 What makes for a great referral tool? .....................4-5 Putting it all together.........6 Whether it’s Amazon or eBay, Beyond the Rack or Birchbox, the world of e-commerce is blowing up. Even the analysts agree on this. Research now shows that ecommerce is out pacing (and some might even say... destroy- ing) brick and mortar retail. In fact for the first time ever in 2013 black Friday sales on-line outpaced brick and mortar. So the question you probably have is... I’m running an on-line business right now, but how can I get a piece of this pie? The reality is that what sepa- rates the winners from the losers in e-commerce has nothing to do with product selection or technology. It has EVERYTHING to do with MARKETING! But that’s the problem: when you’re an on-line businessperson, your pride lies with the products you sell and in the service and experience you offer your customers. Becoming an expert marketer isn’t what you signed up for. Besides, you probably never even liked marketing people anyway! Well the good news is that in the digital world, there are some simple strat- egies and tools you can use to take the stress out of marketing and really SUPERCHARGE your e-commerce business. Supercharge Your Online Business With Referrals Page 1
  • 3. Let’s start with some basics – What is the problem you’re solving? The first step to understanding marketing is to understand the problems that marketing could help you solve. When it comes to retail, both on-line and in person, there really are two fundamental problems standing in the way of real, sustainable success. Both of these can be addressed with better marketing... if you know how. 1. Get new customers Everyone intuitively knows that marketing should get the ball rolling when it comes to getting new customers through the door. But: marketing can be a huge headache. Even in a digital world where tools and technology have made a lot of things easier, marketing still isn’t. Google AdWords, search engine optimization (SEO) and Facebook advertis- ing… where do you start and will these things even work for you? The short answer is YES, these on-line marketing strategies can all be ex- ceptionally effective. BUT all these marketing strategies take significant time and money to master. While the returns can be great, this time and money is probably not at the disposal of many busy shop owners. A retailer’s time is more often spent on their core competency - distribut- ing great products and providing exceptional shopping experiences. As a result they often get by with the bare minimum marketing efforts, resulting in bare minimum results. This leaves many looking for a way to get more marketing bang for their buck. 2. Keep the customers you already have The key to growing any retail business is keeping a base of loyal, repeat customers. In the on-line world of retailers it’s a bit trickier since you must be able to do this without face-to-face relationships with clients. Marketing can help fill in the gap through loyalty offers and customer incentives, but setting up these kinds of program can also be quite overwhelming. Supercharge Your Online Business With Referrals Page 2
  • 4. What should I offer? Who should I offer it to? How can I manage this? When should these programs run? How can I track this? Instead of providing any answers many retailers are left with even more questions once they start entertaining the idea of building loyalty. Often, all smaller retailers need is an easier and more impactful way to make that connection with their customers. You’ve got your own problems to deal with: Beyond the big problem of attracting new customers and keeping existing customers, as an on-line entrepreneur you face your own set of challeng- es as well. You wear many hats, and have many responsibilities. Sounding familiar? You probably have: 1. NO TIME The most valuable resource you have is time. While the insights you can get through the endless reports and numbers associated with running your on-line store are tremendously valuable, getting to this value can take a tremendous amount of time and analysis. You just want to get to the point, and probably don’t mind how you get there. 2. NO DESIRE FOR NUMBER CONFUSION Even if you have the time to dedicate to reporting and analyzing all your data, including your marketing data, you may not have the expertise re- quired to use a complex reporting tool. Marketing programs should be simple and easy to understand. Is the campaign working, or not, and what areas can be fixed. Any tools you use should save you time, not cost you more with confusing layouts and an avalanche of numbers and graphs. Surely there must be someone who can help: The good news is that there are many avenues you can take to relieve some of the stress of marketing. Would you believe that perhaps your BEST source of free marketing is your pool of existing happy customers? “65% of new business comes from customer referrals” - NY Times Supercharge Your Online Business With Referrals Page 3
  • 5. Did you know? • 65% of new business comes from customer referrals – New York Times • People are 4X more likely to buy when referred by a friend – Nielsen • The Lifetime Value of a referral customer is 16% higher – Wharton School of Business • 83% of consumers are willing to refer—yet only 29% actually do – Texas Tech That’s the power of referrals, if you can utilize them properly. The interest- ing thing about the on-line world is that every one of us has been condi- tioned to share, comment, and tweet our thoughts on products and ser- vices all day long. The trick for a retailer such as yourself is to see if you can harness those conversations by skewing them in your favor. The great news is that a number of tools or apps are now on the market that do exactly that. There are a few things to keep in mind when looking for a referral tool however. What makes for a great referral tool? There are really 3 key things to look for when shopping for a referral tool to supercharge your on-line marketing: 1. K.I.S.S. (Keep It Simple, Stupid) Referral or loyalty programs can be complex and confusing to build from the ground up. Look for apps or services that offer an easy to use and easy to install referral program out of the box. Native integration with leading Supercharge Your Online Business With Referrals Page 4
  • 6. shopping carts such as Shopify allow an on-line retailer like you to have a fully functioning program up and running with only a few clicks of the mouse. One thing to be mindful of however is also how you define ‘easy’. It’s one thing for a tool to offer easy campaign configuration, it’s another thing to make it easy to build an effective campaign. Look for tools that don’t just focus on easy setup but also help you with the tougher part of any market- ing campaign (including a referral campaign) – targeting your marketing message at the right customers, not just any customers. Great marketing isn’t just about sending out a message, it’s about knowing how to craft a compelling message to send. A good tool should help you as much with the creative end of things as it does with the logistics of running a cam- paign. 2. Broadcasting positive word-of-mouth through social media channels Across all merchants, up to 65% of new business comes from referrals. Better yet, the new customers who discover your store through a referral are four times more likely to buy than others. A well thought out referral platform will allow you, the on-line retailer, to create a network of pos- itive referrals by leveraging the speed and reach of today’s customers’ preferred communication channel – social media. Studies have shown that three-quarters of consumers polled have been influenced to make a purchase by activities on social media (*Empathica, 2012) . Good referral programs should do this by providing an easy and seamless way to ask for recommendations from a retailer’s most natural advocates – paying cus- tomers. Even better if they are active in social media! 3. Pay it forward Making customers an active part of a retailer’s marketing and growth pro- vides an inherent loyalty incentive. As consumers we’ve all experienced the high of finding a great deal or an impossible to find product on-line. Many referral platforms can take those moments and make them easy for custom- ers to share with their own network of friends and family. If you can config- ure your referral app to track the results of the referral activities and results, customers could be invited to collect points or other loyalty rewards such as discounts and free products. This kind of customer-led advocacy can turn your great products and great shopping experience into a viral marketing campaign. Supercharge Your Online Business With Referrals Page 5
  • 7. Putting it all together Building a successful on-line business requires great marketing. But great marketing doesn’t have to mean spending excessive time and money to be- come a great marketer. Like many challenges, the secret is simple: knowing where to look for help, and how to get it. For your e-commerce business, the great news is there is a built-in source for help with marketing. Turns out that source is an old-fashioned, tried- and-tested concept: your own customers. The key is knowing how to lever- age modern technology to make it easier to ask your happy customers to provide you with some positive word-of-mouth and referrals. Better yet, these days there are simple-to-use tools that can take those referrals and spread those great messages across the internet, with just a few clicks of a mouse (or taps of a touchscreen). Now that you know, go out there and SUPERCHARGE your on-line business! SUPERCHARGE: (verb : sü-perchärj) - To charge greatly or excessively (as with vigor or tension) Supercharge Your Online Business With Referrals Page 6