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 2022
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 […]
5 Omnichannel Marketing Strategies for Your E-commerce Business in 2022
Say the word e-commerce and the average Millennial cannot help but think about brands like Amazon. It wouldn’t be a stretch to say that this brand is almost synonymous with shopping online. It is no coincidence that Amazon is also one of the top spenders worldwide in terms of marketing. In fact, they recently topped […]
See your Sales Zoom through with Ecommerce Referral Marketing
According to Forbes magazine, Amazon has topped the e-commerce industry once again in terms of sales volumes since the pandemic began. In 2020, it cornered 40.4% of all online purchases in the US alone. By comparison, the closest competitor, Walmart, could only muster only around 4.6%. Amazon’s outstanding sales performance during a period of […]
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 […]
List of Referral Program Ideas to Try for Your E-commerce Store
“If you want to attract qualified leads that convert fast, a referral program is what you need,” This is a common piece of advice e-commerce stores get from their business advisors and with good reason. The concept of ‘give and get’ is as old as commerce itself. Referral programs allow customers to keep getting discounts […]
Letting Customers do the Work: Ace a Referral Program
“When you visit the beach, book hotel X. The customer service staff is very friendly, and they look after you well.” We have always received and even shared such gracious tips with the people we know. But what we often fail to recognize is this is a form of marketing outreach too. Word-of-mouth marketing is […]
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 […]