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6 Referral Marketing Best Practices To Turn Customers Into Word-Of-Mouth Marketers

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6 Referral Marketing Best Practices To Turn Customers Into Word-Of-Mouth Marketers

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Word-of-mouth (WOM) is becoming retailers’ most powerful marketing channel. In fact, 80% of all purchase cycles involve some form of WOM recommendation, according to Forrester Research. These recommendations can drive three to five times more conversions over any other marketing channel.

To harness the power of WOM, retailers’ customer acquisition strategies must include a referral marketing program. The resulting WOM recommendations can help retailers increase awareness, acquire new customers and boost overall sales.

During this webinar, you’ll learn:

How referral programs help drive customer acquisition;
Best practices to increase awareness and new sales via referral programs; and
Ways to measure program results and calculate “real” ROI.


Register for the webinar, titled: 6 Referral Marketing Best Practices To Turn Customers Into Word-Of-Mouth Marketers, and learn how you can turn one-time shoppers into life-long brand advocates.

Word-of-mouth (WOM) is becoming retailers’ most powerful marketing channel. In fact, 80% of all purchase cycles involve some form of WOM recommendation, according to Forrester Research. These recommendations can drive three to five times more conversions over any other marketing channel.

To harness the power of WOM, retailers’ customer acquisition strategies must include a referral marketing program. The resulting WOM recommendations can help retailers increase awareness, acquire new customers and boost overall sales.

During this webinar, you’ll learn:

How referral programs help drive customer acquisition;
Best practices to increase awareness and new sales via referral programs; and
Ways to measure program results and calculate “real” ROI.


Register for the webinar, titled: 6 Referral Marketing Best Practices To Turn Customers Into Word-Of-Mouth Marketers, and learn how you can turn one-time shoppers into life-long brand advocates.

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6 Referral Marketing Best Practices To Turn Customers Into Word-Of-Mouth Marketers

  1. 1. 6 Referral Marketing Best Practices to Turn Customers into Word of Mouth Marketers
  2. 2. Agenda 1.  Overview of Retail Landscape 2.  What is a Referral Program? 3.  6 Best Practices for Referral Programs 4.  Expected Results and Case Studies 5.  Q&A
  3. 3. #WoM   Type  ques)on  here   Welcome  Webinar  A0endees  
  4. 4. #WoM   Follow  This  Webinar  On  Twi0er   #WoM
  5. 5. #WoM   About  Retail  TouchPoints   ü  Launched in 2007 ü  Over 26,000 subscribers ü  To provide executives with relevant, insightful content across a variety of digital medium Free subscription to our weekly newsletter: WWW.RETAILTOUCHPOINTS.COM/SIGNUP
  6. 6. #WoM   Panelists   Angela Bandlow VP of Marketing Extole Alicia Fiorletta Associate Editor Retail TouchPoints MODERATOR Ashley Futak Senior Marketing Manager Extole
  7. 7. Overview of Retail Landscape
  8. 8. #WoM   Consumers  Trust  Social  Media   Connec)ons  More  Than  Brands     of  U.S.  consumers  say  they  trust  brand   and  product  recommendaBons  from   friends  and  family.     of  consumers  say  they  trust  posts   created  and  shared  by  brands  and   companies  on  their  social  accounts.       Only   Source:  Forrester  Research,  "How  To  Build  Your  Brand  With  Branded  Content"      
  9. 9. #WoM   As  If  You  Needed  Addi)onal  Proof…   Source:  Nielsen,  Social  Media  Report  2012     of  social  media  users  learn  about   brands,  products  and  services  through   social  networks.     of  users  hear  about  their  friends'  and   colleagues'  experiences  using  those   products  and  services.      
  10. 10. #WoM   A  New  Era  Of  Brand-­‐To-­‐Shopper   Communica)on   "The  days  when  companies  could  Bghtly  control  brand  messaging  and   progress  consumers  along  a  linear  purchase  funnel  have  long  ended.  Social   media  has  fundamentally  changed  the  consumer  decision  journey.   Consumer  decisions  and  behaviors  are  increasingly  driven  by  the  opinions,   tastes  and  preferences  of  an  exponenBally  larger,  global  pool  of  friends,   peers  and  influencers."     Source:  Nielsen  Research,  Social  Media  Report  2012    
  11. 11. #WoM   Iden)fying  The  Value  Of  WOM     Source:  MarketShare   WOM  increases  markeBng   effecBveness  by  up  to  54%  
  12. 12. #WoM   ü  A  discount  code  or  coupon  for  “Liking”  or   Following  a  brand  page  (35%)     ü  Access  to  limited-­‐Bme  offers  for  sharing   social  content  (35%)     ü   Discounts  on  e-­‐Commerce  purchases  for   referring  friends  and  family  (20%)     Retailers  find  the  most  effecBve  incenBves  for  social   communicaBon  to  be:     Source:  2013  Social  Commerce  ImperaBves  survey,  Retail  TouchPoints     59%  of  Retailers  have  a  Social  Commerce   strategy  in  place  in  2013,  up  from  48%  in  2012.   How  Retailers  Are  Keeping  Pace  
  13. 13. #WoM   Learn  From  Some  Of  The  Thought  Leaders   Bonobos   PoWery  Barn  
  14. 14. What is a Referral Program?
  15. 15. Extole: the Leader in Referral Marketing Page 15 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. Drive acquisition through customer word of mouth: •  Launch world-class customer referral programs •  Tap into a new high- value marketing channel About Extole: – Founded in 2009 – 300 leading brands TRY BRAND “X”
  16. 16. The Challenge: Rising Above the Noise Page 16 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. WOM recommendations break through the noise 3000 brand impressions / day 92% of consumers trust recommendations from friends, 33% trust online ads - Nielsen 80% of all purchase cycles involve some form of WOM recommendation - Forrester WOM recommendations convert at 3-5x other channels - WOMMA
  17. 17. Overview of a Referral Program Page 17 A referral program is an end-to-end program to: • Engage a brand’s customer advocates • Foster sharing of referrals from advocates • Convert friends into new customers • Monitor performance and optimize results © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  18. 18. Folica: Turning Advocates into Marketers Page 18 GOAL: • Acquire new customers via referrals from existing customers PROGRAM: •  Advocate: $10 credit •  Friend: $10 off first purchase PROMOTION: •  Website, Facebook, email, Twitter & newsletters INDUSTRY: Retail, Health & Beauty © 2013 Extole, Inc. All rights reserved. Proprietary/Confidential.
  19. 19. Promoting the Program 19 © 2013 Extole, Inc. All rights reserved. Proprietary/Confidential.
  20. 20. Advocates Share Over Email 20 © 2013 Extole, Inc. All rights reserved. Proprietary/Confidential.
  21. 21. Advocates Share via Facebook 21 © 2013 Extole, Inc. All rights reserved. Proprietary/Confidential.
  22. 22. Advocates Share via Twitter 22 © 2013 Extole, Inc. All rights reserved. Proprietary/Confidential.
  23. 23. Friends Receive Offer via Sharing Messages 23 © 2013 Extole, Inc. All rights reserved. Proprietary/Confidential.
  24. 24. The Bottom Line RESULTS: (After 30 days) • Advocates………………..6,000+ • Shares per Advocate……4 • Total Shares…………….. 21K • Email Open Rate………..93% • Conversion Rate………...16% 24 © 2013 Extole, Inc. All rights reserved. Proprietary/Confidential.
  25. 25. 6 Best Practices for Referral Marketing Programs social referrals amplify brand reach
  26. 26. Best Practices for Referral Programs Page 26 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  27. 27. 1. Creating a Compelling Offer •  What to consider: –  Compelling offer for customer advocates –  Unique offer for the friend –  Balanced offer structure –  Testing and optimizing •  Offers – what will resonate with your customers? –  Free goods, discounts, exclusive product, loyalty points –  Related products –  Gift cards –  Charitable donations Page 27 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  28. 28. 1. Creating a Compelling Offer Page 28 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  29. 29. 2. Promoting the Program •  What to consider: –  Promotion across owned assets •  Website •  Email lists •  Communities •  Social networks –  Promoting at key customer touch points •  Order confirmation pages •  Purchase confirmation emails •  Pop-up messages and banner ads within digital products –  Keeping promotions fresh with a clear CTA Page 29 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  30. 30. 2. Promoting the Program Page 30 Email Website Facebook Post Transaction © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  31. 31. 2. Promoting the Program Page 31 36% 21% 11% 11% 6% 4% 3% 3%2%2%1% Homepage Post-purchase Newsletter Email In-Product Other Dedicated Email My Account Page Dedicated Page 'Drip' Remarketing Email Header/Footer Social Media Post Participation by Promotion Placement © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  32. 32. 3. Making it Easy for Advocates to Share •  What to consider –  Messages: Default or Advocate Created •  Sharing channels –  Email –  PURL –  Facebook –  Twitter Page 32 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  33. 33. 3. Making it Easy for Advocates to Share Page 33 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  34. 34. 3. Making it Easy for Advocates to Share •  Email Sharing –  1 to 1 share –  Personal recommendation –  Highest conversions •  Default Messages –  Read like a story with a personal touch –  Tells the friend about the offer they will receive –  Include what the advocate gets if the friend converts Page 34 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  35. 35. 3. Making it Easy for Advocates to Share •  PURL (Personal URL) Sharing –  Personalized links which brands can provide to advocates to share programs with friends across channels and platforms –  Simple, flexible, can be used for 1 to1 or 1 to many sharing –  Less control for brand •  Default Messages –  N/A Page 35 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  36. 36. 3. Making it Easy for Advocates to Share •  Facebook Sharing –  1 to many share with friends –  Social context –  Higher amplification than 1 to 1 shares •  Default Messages –  Read like advocate speaking directly to friends –  Include rationale for why they are sharing with friends Page 36 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  37. 37. 3. Making it Easy for Advocates to Share •  Twitter Sharing –  1 to many broadcast share –  Highest amplification, lowest conversion •  Default Messages –  Condensed message to world at large (140 characters) –  Use @TwitterHandle for brand to increase SEO –  Use hashtag (#) for program Page 37 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  38. 38. 4. Personalizing the Friend Experience Page 38 •  What to consider –  Make it short and to the point –  Describe the offer –  Make it personal –  Keep the CTA simple © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  39. 39. 4. Personalizing the Friend Experience Page 39 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  40. 40. 5. Keeping the Program Top of Mind •  What to consider –  Remarketing –  Advocate Dashboards Page 40 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  41. 41. 5. Keeping the Program Top of Mind: Remarketing Page 41 10.5% increase in advocates engaged 14% of all advocate shares 29.5% of all final conversions © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  42. 42. 5. Keeping the Program Top of Mind: Advocate Dashboard Page 42 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  43. 43. 6. Monitoring and Optimizing the Program •  What to consider –  Visibility into program funnel –  Ongoing testing •  Offer •  Promotional placements and copy •  Default sharing messages •  Remarketing –  Optimization Page 43 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  44. 44. 6. Measure and Optimizing Page 44 advocates shares referrals conversions shares per advocate clicks per share conversion rate © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  45. 45. 6. Monitoring and Optimizing the Program Page 45 Launch Referrals grew From 15 to 3,000 Largest Acquisition Channel Optimization Period Financial Services Example © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  46. 46. Expected Results & Case Studies social referrals amplify brand reach
  47. 47. The Referral Marketing Funnel Page 47 advocates shares referrals conversions shares per advocate clicks per share conversion rate © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  48. 48. The Referral Marketing Funnel Page 48 30-50% email open rates 20-60% of customers become advocates Advocates share an average 5.4X 3-5X conversion rate advocates shares referrals conversions shares per advocate clicks per share conversion rate © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  49. 49. Channel Performance Page 49 Facebook PURL Email Twitter Email Facebook PURL Twitter Facebook PURL Email Twitter Email Facebook PURL Twitter Clicks per Share by Channel Conversion Rate by Channel highest in social channels—Twitter is highest; email is lowest. Conversion rate is highest in one-to-one sharing—email is highest; Twitter is lowest. © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  50. 50. Quantifiable Marketing Results Page 50 30% Referrals 2.3M Stories 500K Revenue$ Entertainment / Media Consumer Electronics Online Health & Beauty 233% AOV 5000 Customers 433% Conversions Financial Services Automotive Online Apparel Awareness Referral Rate Conversion Rate Customer Acquisition Revenue Average Order Value 6 Months 11 Months 30 Days 150 Days 30 Days 45 Days © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  51. 51. Women’s Retailer: Boosts Referral Sales 4x Page 51 GOAL: •  Drive WOM recommendations to boost sales and build community PROGRAM: •  Original Offer: $10 for advocate, $10 for friend •  Double Rewards: $20 for advocate, $20 for friend RESULTS: (Per Month) Original Double •  Advocates………… 10K+…… +33% •  Share Rate……….. 2.3……… +57% •  Friend Clicks……… 12K+ …... 3x •  Sales………………. 1000+….. 4x Retail: Apparel © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  52. 52. Roku: Driving Sales via Customer Referrals Page 52 GOAL: •  Drive new customer acquisition through word of mouth referrals PROGRAM: •  Advocate: free month of Netflix RESULTS: (After 6 months) •  Advocates……………….. 40k+ •  Referrals per Month.…… 10k •  Revenue…..…………….. $250K •  Customer Referrals…….. +30% INDUSTRY: Consumer Electronics © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  53. 53. Conclusion •  Word of mouth is a critical marketing channel •  Referral programs harness the power of brand advocates to drive new sales and acquisition •  Best Practices Recap: 1.  Create a Compelling Offer 2.  Promote the Program 3.  Make it Easy for Advocates to Share 4.  Personalize the Friend Experience 5.  Keep the Program Top of Mind 6.  Monitor and Optimize the Program Page 53 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  54. 54. Q&A •  Submit all questions via the Questions section of your GoToWebinar Control Panel and send to either presenter Next Steps •  Download this presentation at: http://rtou.ch/womwebinar •  Download Extole’s Ultimate Referral Marketing Guide – extole.com •  Stay Current on Extole News and Happenings! –  extole.com/blog/ Page 54 © 2013 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
  55. 55. | 877 739 8653 | hello@extole.com | Contact Us 625 2nd Street St. #101 San Francisco, CA 94107 Thank You

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