After sending out some unsuccessful email referral campaigns, ReadyTalk, an audio and web conferencing service provider, chose to invest in an advocate marketing program to nurture their best customers. Through the program, they offered rewards for smaller acts of purchaser advocacy like sharing content material on social media or writing a review and strengthened their relationship with their clients before asking for referrals. In the first 10 weeks of imposing their advocate advertising program, ReadyTalk received 183 referrals—33% of which closed in half the time of a common sales cycle. See how they did it during this eBook. This fraud detection and anti money laundering software used an suggest advertising program to run an internet “Referral Rally” contest that offered rewards for the head referrer at the end of each week.
To ensure all of the leads submitted were high fine, Verafin included “Referral Certification” challenges that professional advocates on Verafin’s ideal referral persona, how to speak concerning the agency to clients, and the way best to submit a referral. Once advocates achieved each step, they gained a unique badge. After the month long contest finished, the “Referral Rally” generated 117 high first-rate B2B referral leads—almost 3 times the number that they had initially hoped for. Tesla, the electrical car company, has modified its referral program across the years to mirror its transforming into customer base. They originally introduced customers $1,000 to refer a chum, but have since changed their strategy to give Tesla owners who refer more than one people to be eligible for even better prizes, equivalent to an unique Powerwall 2 battery. Even better, the 1st person to refer 20 people in their region–North America, Europe, or Asia Pacific–gets a free Model S or Model X.
Other referral rewards included invites to specific parties and the chance to purchase other special model merchandise not obtainable to the public.