Elevating Advocate Marketing with the Five Types of Referral
Referrals are one of the most powerful channels that your brand can leverage, that is, if you understand how. In this concise report, Extole and eTail walk you through the key takeaways from their webinar on exploring the 5 types of referral.
Learn what they are, and where each one can be brought to bear for maximum effectiveness when you grab your copy of this awesome new report.
Click the image to the left to claim your copy!
A referral program isn’t just a way for advocates to share links, it’s an end-to-end experience starting with someone learning about your referral program and ending with their friend buying a product and going on to share.
A referral experience will always involve at least two parties; the advocate and the friend. The advocate shares the offer and the friend receives it, converts, and goes on to share with their friends and family. There are metrics and funnels for each process that make up what we call the “referral funnel”, and to understand referrals you must understand the entire referral funnel to identify what type of referral program fits your business.
Retail brands are constantly refining their commercial capabilities and marketing capabilities. 2016 has been no different, as retailers are shifting their marketing budgets and technology investments to build better strategies to connect with consumers across their increasingly non-linear paths to purchase. The goal is simple: to create a seamless, enjoyable shopping experience across the spectrum of digital and offline commercial channels.
Brands are pulling in revenue from more commercial channels than ever before, but there are still great opportunities to reinforce the connecting fibers between those channels. It is no longer sufficient to simply have a presence in these various channels. Rather, every channel must feel like an extension of the others, and critical capabilities like attribution analytics and cross-promotions must cover that entire spectrum.
Retail marketing is evolving right alongside omnichannel commerce; audience reach is expanding as the number of commercial channels grows, and campaigns are becoming more effective at engaging and converting. The digital age has brought consumers and brands closer than ever before, a fact that brands are embracing through campaigns that encourage direct interaction. Consumers are no longer an audience to be advertised to; they are participants to build relationships with. Today’s best campaigns are content-centered, highly personalized, and deeply measurable.
eTail’s sixth annual e-commerce outlook will assess some of the trends and technologies driving retail innovation. This paper evaluates the marketing tactics retailers are leveraging, and takes a look at how those tactics have impacted core KPIs. It will also take a close look at innovative initiatives like referral marketing and user-generated content. Finally, it will gauge how well retailers are keeping up with omnichannel commerce.