As you may have seen in the news significant changes are happening at Facebook. Specifically significant changes to how we interact with our followers, partners and influencers on their platform. This design and algorithm change will complicate an already difficult task of making our businesses visible to our ideal audience.
If you’ve felt that your brand has been struggling for your customer's mindshare through their screens, then you are not alone. Most brand’s organic ads are currently reaching less than 2% of their intended audience and every day, more marketers are saying this new algorithm could usher in the death of organic posting. If this resonates with you or your brand then you are ready for a referral marketing program.
How will referral marketing and rewards help you outsmart Facebook’s new algorithm?
Customers who Create Content are Powerful
The most effective and engaging content is rarely created by you and your team, if you’ve ever been involved in a referral program like Uber, PayPal, Hulu, Chase or even seen someone send out a share code, then you’ve seen the most effective form of marketing that takes place in the digital age. Allowing your customer to share your message and do the heavy lifting for you is even easier in the digital arena with referral marketing. Now is the time to embrace it!
Pay to Play Won’t Cut it.
You can keep putting $$ into Facebook Advertising or you could reallocate some of that budget back into the customer experience appreciation bucket. Do not completely give up on Facebook, but if a referral generates 13% more gross profit than a non-referral sale, it may be time to refocus your paid ad dollars. Optimizing on Facebook’s “Marketplace” for vehicle sales is the updated craigslist.
Here are some quick ideas to implement on Facebook today:
- "Guess the Score" Posts - ask your Facebook followers to guess the score of a local game and they'll win a $15 gift card! They must share the most on their facebook page and write their score in the comments. We've seen 124+ shares on posts like this for an average dealer.
- Post about your referral program and tell your employees to share the post, whoever gets the most likes get a spiff!
- Give your customers referral codes to share on their social media platforms for vehicle sales and service center visits.
Want more ideas? Sign up for our newsletter and reach out to us to learn more about setting up your own custom rewards and referral program at email@example.com
“I expect the time people spend on Facebook and some measures of engagement will go down. But I also expect the time you do spend on Facebook will be more valuable.” - Mark Zuckerberg
While this news is frustrating it’s also an opportunity to get creative, outsmart the algorithms and begin building stronger customer relationships. Referral marketing can and should be your solution.