What was the first thing you did when you bought a sinfully awesome dress or gadget? You told your friends about it! “Hey look! I bought this xbox for just $200 from xyz.com! How cool is that!”
Did you realize that you just promoted the retailer’s brand among your bunch of friends? You became the social brand ambassador for the retailer, driving your friends to the same store via your social referral.
Imagine the same scenario with your customers! Your customers are your best social referrers. Word-of-mouth referrals from your customers will get you the maximum bang for the buck this holiday season, and ever!
Did you know that worldwide 84% of customers put maximum trust on word-of-mouth recommendations from friends and family for making their purchase decisions? Socially referred traffic is delivering a revenue uplift of 17.8% for e-commerce sites.
Holiday season is the most awaited annual ritual of shopping and what can make it better than allowing your customers to shop with their friends? Referral marketing is one of the most important tool for retailers this shopping season to ensure customer loyalty and high conversion rates.
So how does social referral help in piling up sales?
1. Word of mouth branding
Your shoppers are your best brand ambassadors. 84% of customers trust recommendations from friends and family more than any other advertising media. It creates a higher impact as it is backed by trust from your customers. If your customers are satisfied with you, they would be more than willing to talk about you. It’s just a matter of making the whole process appealing and fun for your customers.
2. Up To 10% Increase In Traffic And Sales
Were you aware of the fact that, shoppers driven by recommendations from their peers are 3X more likely to convert? To get maximum juice out of these referrals, just slip in an attractive deal or a gift voucher for every friend whom they refer. Pour additional discounts in your customers’ kitty for every referred friend who converts on your site. Your customers will love you more than their own money, hands down. Why? Because they “earned” this discount/incentive! This will not only motivate your existing customers to recommend more people, but also indulge in more purchases on your site increasing your sales by upto 10%.
3. New Loyal Fans Flocking Your Social Media Profiles
It’s a no brainer that incentivizing your customers is your ticket to increased viral reach. After appeasing your customers and their friends with mouth watering deals and discounts, the next obvious stop for them is to flock your fan pages on Facebook and your profile on Twitter. This way you get thousands of genuine fans on social media and increased social advocacy via word of mouth from your customers.
4. Massive Social Proof Created
The incentive-gated referral marketing program will generate a massive social proof. Your customers, their friends and their 2nd level referrals will all create more social referrals which will act as social proof for your brand. The entire process repeats, triggering a chain reaction of referral traffic to your site. Holiday season is the best time to cash in on this “group social proof”. Hold popularity contests based on social voting to let your customers tow in their peers and spread your brand far and wide.
Want to make this more awesome? Check out ShopSocially’s Referral Program to get your sales engines running full steam this holiday season!