This article was previously published on June 19, 2017 and was updated on July 23, 2019. Referral leads convert 30% better than leads generated from other marketing methods. Plus, they have a 16% higher lifetime value compared to the other leads. Why? The reason lies in the simple word: trust. People tend to trust referrers compared to other channels, as these recommendations come from people they know or consider to be influencers in the niche. Good referral marketing has a high retention rate. Email referrals are a great way to boost your business as you definitely enjoy a higher click-through rate compared to the other channels.
Second, your investment in email marketing is lower and the ROI is higher compared to the other channels. For every dollar you spend on email marketing, the ROI is $44. Want to know how you can improve your referral marketing, improve footfall 10x, and increase value to your business with emails? Here, we’ll explain why you should opt for Venezuela B2B List referral marketing, the type of emails you should send, and tips for using email referral marketing for your business. So, are you ready to start? Why referral email marketing? Recommendations are always a great way to grow your customer base and ensure better conversions. Email is definitely a great channel to continue with referral marketing.
As Mentioned Above
Agood email with a perfectly articulated referral link will boost your brand engagement. A good referral program always catches the attention of the customer and there is a high probability that they will stay with your brand for longer. What else? Referral marketing is essentially free, meaning you’re not going to spend anything at all to build your customer base. People would recommend your brand to other people, and word of mouth marketing of your brand simply gains value as a result of referral email marketing. If the referral marketing program is in sync with your requirements, you may have hit a jackpot.
A personal recommendation always wins over other marketing tactics and you will get the desired conversion with referrals. Qualified lead generation is what every marketer looks for when channeling their marketing skills for a brand. The referral program is exactly what every marketer’s dream sounds like. You have friends from your target audience and influencers recommending products to them, which in turn builds your authentic list of potential customers. If you look at the whole structure from a marketing perspective, you will see that referral marketing is a channel of its own, which will increase the value of your brand.
The Idea Is To Nurture
The audience and build your customer base by slowly working towards conversions. Lastly, a referred customer is likely to pay more and you get a profitable result as a result. When a customer is satisfied with the product they have received from the brand. There is a chance that they will recommend the brand/product to someone else, which also helps in better conversion. Repeat purchases increase with brands that offer referral marketing. Now that we’ve concluded why you should opt for referral email marketing. Let’s get started on the tips that will make your marketing more effective and lead to profitable business.