What is a Good Referral Rate – Do Referral Programs have Benchmarks?
How do you know whether your referral program is performing as expected? By benchmarking it against other programs in your niche. Many metrics can help you get a clear picture. However, referral rate is the ultimate measure of the successful performance of your referral program. It is the percentage of referred sales out of the […]
10 Effective eCommerce Referral Marketing Strategies in 2024
Are you an e-commerce store owner in search of generating leads for your business in a budget-friendly manner? Well, then E-Commerce Referral programs are the marketing strategy that may be the best fit for you. Do you know why? As per data, 54% of marketers say referral marketing has a lower cost-per-lead. Referral programs, also […]
Why Referral Programs Generate Better Results Than Other E-commerce Marketing Strategies?
Research shows that 92% of marketers believe the content they create – landing pages, ads, and emailers – really resonates with their target audience. However, only 51% of customers think that brands are authentic in their advertising. Even though most e-commerce brands use a combination of marketing strategies, the trust element is often missing. This […]
Strategies for High ROI Ecommerce Referral Marketing
Satisfied customers show brands their gratitude by telling others about their products. It’s just human nature. Referral marketing tries to leverage this principle to drive sales and engagement. And, it works! Research shows that 92% of customers trust word-of-mouth recommendations more than branded content. So, there could be no better way to promote your brand […]
Can E-commerce Influencer Programs Help in Improving Customer Lifetime Value in a Post-COVID Market
The post-COVID market is a volatile one. Customer’s buying behaviors have changed, and understandably so. It has become essential for brands to realign their strategies to convert potential customers and retain the old ones in the changing market landscape. Online shoppers enjoy certain unique benefits. There’s a lot of online content to help buyers determine […]
How Referral Programs Can Build an E-commerce Store’s Customer Reliability
Today customers may find themselves facing a challenging task. That task is to make the best purchasing decisions from among the several options available. Often the decision is based on ads seen on the TV, print, or social media platforms. However, factors like friends, family, or co-workers’ opinions or thoughts can influence a customer’s buying […]
Guide to Increasing Customer Retention Through Referral Programs for your Ecommerce Store
The growth of every business, irrespective of its size, depends on its customer growth. While acquiring new customers is critical, another equally important factor in a business’ success is customer retention. Importance of Referral Programs in Customer Retention Customer retention can be a fantastic marketing strategy to help businesses retain customers and stay loyal to […]