Here’s a question we hear often: Build a referral marketing program in-house or invest in a more dynamic solution? A happy army of customers can do a lot of legwork for you and a strong referral program and network can even improve your overall marketing efforts.
According to MarketShare and DMA and Forrester, Word-of-mouth has been shown to improve marketing effectiveness by up to 54% and referrals have a 25% higher lifetime value (LTV).
But there’s a catch, just assuming that because you provide excellent service and products to your customers is idealistic at best and building a half-baked referral program can cause more headaches to your team and customers than help.
A clear-cut and high quality referral program can propel your company into major referral growth by giving your salespeople the confidence to ask for referrals by empowering them with an enticing reward that is proven to motivate customers to submit more referrals. Along with automated and personalized on-brand marketing, deep analytics, reporting and delivery. Not only do Incentivefox client’s generate more profits, management saves up to 30 minutes per referral check each month with the platform.