Easy To Use Referral Spain Phone Number ListSoftware Now anyone, anywhere can run a referral program using plug-and-play referral software. No code referral software offers an easy-to-use solution to build, launch and manage your referral program. Fully customizable and in most instances offer integration features to automate your referral program, we love referral software because of how accessible these referral platforms have become to any business of any size. Highly Qualified Leads Referred customers are 18% more loyal and have a 16% higher lifetime value. Not only that but they have also been found to spend up to 13.2% more. Referral programs help to generate a large volume of high-quality leads through word-of-mouth referrals amongst like-minded customers. Higher ROI 92% of people trust recommendations from people they know, compared to 37% of people who trust search engine ads and 24% that trust online banner ads. While paid-for media is getting more expensive, the return on marketing investment is not reflective of this increase in cost. In contrast, referral leads have a 30% higher conversion rate than leads from any other paid-for channel. What’s more, 86% of businesses that run a well-planned referral program will experience a growth in revenue within two years.
Rapidly Evolving Spain Phone Number List Marketing Channel While Facebook, Instagram, and Google have always been the go-to advertising platforms, their cost per click continues to increase, in some instances as much as up to 23%. While the CPC increases, the return on investment has remained unchanged. On the other hand, referral marketing is a rapidly evolving marketing channel, statistically proven to lower the cost of customer acquisition and increase the lifetime value of your customers. Need More Evidence? We’ve all heard of the various growth success stories that companies such as Dropbox, Airbnb, and Uber have seen using referral marketing strategies. Citing massive growth at a very low cost, the results are apparent that the time to ride the referral marketing wave is now. dropbox-referral-campaign-report airbnb-referral-campaign-report uber-referral-campaign-report Closing The Referral Loop To Gain Greater ROI So you’ve already spent the budget to acquire a customer base using paid-for media (albeit an expensive one). Reclaim a return on your investment on advertising spend by closing the referral loop. Lowering CPC by as much as 34%, using customers acquired through paid-for media to refer their friends using a referral program, closes the referral loop. This makes sure that the expense of acquiring customers via paid-for media sees a return. Here’s an example to help explain what we mean by this: Say you spent $20 on an Instagram ad to acquire a new customer, and you then ask that customer to refer a friend for a $5 reward, your CPA goes from $20 to $12.50 because you have now acquired two customers for the total value spent.