Another week has passed and that means yesterday we hosted a new episode of The Ecommerce Growth Show.
Our special guest this time was Raul Galera, Partner Manager for ReferralCandy.
Before going into the weekend let’s see what happened in this episode!
Who is Raul Galera?
Key Takeaways from this episode
Why is Referral Marketing important?
Referral Marketing is a key component of a customer-centric strategy. Referrals are going to happen organically. So if you have customers coming back to your store, if you have a constant flow of customers, you’re going to have referrals anyway if your products or the customer experience you offer is good, and that will happen organically.
The beauty of referral programs is that you’re incentivizing your customers to talk about you even more. This has to be part of a bigger customer-centric strategy in the sense that if you have a product that it’s not solving a problem or if you have a bad customer service in general and people are not happy buying from your store or if they had a problem that was not solved by your store, they’re not going to refer you further. And in the end, it doesn’t matter if you have you know a good referral incentive they’re just they’re not going to recommend something to their friends and family that it’s not going to be used.
Your customers are your best salespeople. The best thing about your customers being your salespeople is that they don’t sound like salespeople. So when they recommend something it’s considered a trustworthy recommendation.
Tracking NPS (Net Promoter Score) to find out discover your best promoters
We see customers using NPS to be able to target their different programs.
Even if referral programs might target all the customers, it’s important for companies to know who their VIP customers are, as that will be a different and more powerful approach to the referrals they can bring.
Growth at all costs, not a sustainable strategy
Even though the current situation has changed the way shop owners or buyers are looking at online shopping now, and there are increases in sales, a predilection for different days to shop as they used to in the past, and so on, shop owners shouldn’t consider only acquisitions as part of their growth strategy. Growth at all costs is not sustainable.
I have noticed that a lot of shop owners are now looking at retention as an option because they realize they have a pool of customers that can bring them value in terms of referrals or future purchases and it’s a thing they haven’t considered before.
Make sure you tune in and watch the whole episode here.
Tune in next Thursday, June 11th for a new episode with Linda Bustos!