Tags: Incentives & Rebates
Rewarding Customer Referrals - Refer a Friend Programs
When was the last time you tried something new based on a recommendation? From reading a book recommended by a family member to eating at a new restaurant your friend can’t stop talking about, many of our decisions are influenced by referrals. In fact, research shows that 92% of consumers trust referrals and recommendations from friends and family.
Let’s review some types of referral rewards and how creating and implementing a robust referral program can help organizations drive customer loyalty.
Refer a Friend Programs
Refer a Friend Programs are incentive programs designed to benefit existing customers as well as new referrals. Because so many consumers rely on referrals from friends or family before making a purchase, rewarding new and existing customers is a valuable tool to boost customer brand advocacy.
Examples of Customer Referral Rewards
When creating a referral program, think about the kinds of rewards your customers are looking for or find valuable. There are a variety of rewards and incentives to choose from, but here is a list of popular rewards to get you started:
Branded Merchandise. Branded merchandise is a great gift for loyal customers who love your brand. Whether it’s a t-shirt, keychain, sticker, or something else, they’ll want to represent the brand they love most. Offering free branded merchandise to customers who refer a friend is a great incentive.
Rewards Cards. Prepaid reward cards are the perfect way to show your appreciation. Plus they are available in digital format to help your customers stay eco-friendly. Offering prepaid reward cards allows new and existing customers to spend their rewards however they want, wherever they want.
Discounts. Discounts like a percentage off a customer’s next purchase or free shipping for a specified amount of referrals is a powerful incentive tool. Show your loyal customers that you care about them by offering some sweet perks.
Exclusive Experiences. Experience-based rewards like a stay in a luxury hotel or a chance to win an exclusive trip are great ways to go above and beyond. Share your appreciation for your loyal customers and welcome their referrals with experience-based incentives that are sure to amaze and excite.
Group O offers Incentive Marketing Solutions to help facilitate the right rewards program for your organization. We provide program development and program implementation so that you can make the most of your referral program and boost consumer engagement and loyalty.
Group O’s O-vations™ platform is designed to be your one-stop-shop for all of your incentive program needs. From implementation, to fulfillment, and continued support, our platform is easy for both you and your customers to use.
Reward recipients can easily track and redeem their rewards using our platform. The ease of use takes the stress out of rewards and lets the incentives speak for themselves.
Referrals are synonymous with trust, providing a compelling rationale for rewarding those who offer them.
As consumers are bombarded with different products and brands, it can be difficult to know who to trust. Referrals from fellow shoppers are more trusted than the words of an advertisement. Whether it is through word of mouth, face to face, or via social media mentions, rewarding valued customers who refer friends is a great way to show your appreciation, boost customer loyalty, and drive engagement from both new and existing customers.
Group O provides comprehensive incentive marketing solutions that are fully customizable to meet your organization’s customer retention and acquisition goals. Our program managers are experienced in designing the right rewards program for you with the right rewards that are sure to please.
Contact Group O for more information on how your organization can start rewarding loyal customers and start gaining real customer brand advocates today.