Misconception: Customers acquired through referral schemes are typically low-value, one-off transactions. 

Fact: Customers acquired through referral schemes have high retention rates and strong loyalty. 

 

The Stats 

When it comes to the benefits of referral schemes, the stats speak for themselves.  

• 28% of millennials say they won't try a product if their friends don't approve of it. 

• Word of mouth is the primary factor behind 20-50% of purchasing decisions. 

• 84% of B2B decision makers start the buying process off with a referral. Referred prospects also convert 30% better than leads generated through other marketing channels, and have a 16% higher customer lifetime value. 

With so many options and competitors, customers put their money into brands they trust. According to Nielsen’s Trust In Advertising report, 84% said they found referrals to be the most trustworthy source when making a purchase. 

In the world of referral programs, there is no getting without giving.  

What are your customers looking for? What incentive will get them to show your product to a friend?  

There are key differences between referral schemes and loyalty programs. In referral schemes, customers are rewarded for referring a friend who becomes a customer and in loyalty programs, customers are rewarded for repeat business. By including a referral scheme in your loyalty program you can sway customers away from competitors AND net new business. 

  

 

  

  

Misconception: Referral Marketing is complex and difficult to implement. 

Fact: The ENTERTAINER business takes the complexity out of referral marketing and makes it easy for your brand and your valued customers. Get in touch today. 

For press inquiries, please contact: 

Penny McNmara, Head of Marketing

Mobile:  +971 58 590 1510

Email: [email protected]

Website: www.theentertainerme.com