Referral Marketing: Powerful Strategies on how to boost App virality
affiliate marketing Tags: boost, Marketing, Powerful, Referral, Strategies, viralityNo Comments »
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In the next few minutes, you will learn about the psychology behind word-of-mouth marketing and five referral marketing strategies to boost referrals to grow your business and spread your app like wild fire.
In this episode you will learn:
0:17 What is referral marketing and why is it important?
We reveal how referral marketing can help boost the shareability of your app and increase the number of users.
1:08 Why do people actually refer your app to their connections?
We analyze the main reasons why users will share your app to their connections.
2:51 How do you sprinkle elements of app virality into your marketing strategy?
We show you the steps required to start getting your app noticed at a phenomenal rate.
We would love to hear about your own tips, tricks, tools and strategies that you have used to create app virality in the past..
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About Pulsate
Pulsate is an All-in-One mobile marketing growth stack used by leading mobile marketers to drive sales from their app, increase user engagement and deliver experiences to build brand loyalty.
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What is REFERRAL MARKETING? What does REFERRAL MARKETING mean? REFERRAL MARKETING explanation – REFERRAL MARKETING definition -REFERRAL MARKETING explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
Referral marketing is a method of promoting products or services to new customers through referrals, usually word of mouth. Such referrals often happen spontaneously but businesses can influence this through appropriate strategies.
Referral marketing is a process to encourage and significantly increase referrals from word of mouth, perhaps the oldest and most trusted marketing strategy. This can be accomplished by encouraging and rewarding customers, and a wide variety of other contacts, to recommend products and services from consumer and B2B brands, both online and offline.
Online referral marketing is the internet-based, or Software as a Service (SaaS) approach, to traditional referral marketing. By tracking customer behavior online through the use of web browser cookies and similar technology, online referral marketing can potentially increase brand awareness, referrals and, ultimately, revenue. Many platforms allow organizations to see their referral marketing return on investment (ROI), and to optimize their campaigns to improve results. Many of the newest systems provide users with the same experience whether they are on a desktop or mobile device. Offline referral marketers sometimes use trackable business cards. Trackable business cards typically contain QR codes linking them to online content for sale while providing a way to track that sale back to the person whose card was scanned.
A study conducted by the Goethe University Frankfurt and the University of Pennsylvania, on referral programs and customer value which followed the customer referral program of a German bank that paid customers 25 euros for bringing in a new customer, was released in July 2010. According to Professor Van den Bulte, this is the first ever study published on the financial evaluation of customer referral programs. The study found that referred customers were both more profitable and loyal than normal customers. Referred customers had a higher contribution margin, a higher retention rate and were more valuable in both the short and long run.
On whether customer referral programs are worth the cost, the study says that it records “a positive value differential, both in the short term and long term, between customers acquired through a referral program and other customers. Importantly, this value differential is larger than the referral fee. Hence, referral programs can indeed pay off.”
