You’ll gain high-value, trusting customers
Building trust in your brand is one of the biggest goals in marketing. Personal recommendations go a long way in building trust and are perceived to be more reliable than advertising. New customers who are referred by a close friend or family tend to be more trusting and loyal, making them high-value customers.
You’ll extend your market reach
Referral marketing programs have the potential to increase your reach in a short timeframe. Given the right incentive, customers will reach out to friends and family, in person or through their social media, dramatically increasing your reach. If an influencer or celebrity naturally recommends your product or service, it gives you exceptional coverage.
You’ll be able to identify loyal customers
Customers like to feel appreciated and may move their business because of perceived indifference. Referral marketing programs allow you to identify, track and reward your most loyal customers by providing a more personalized interaction experience and making them feel appreciated.
