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Extole: How to build referrals weekly, monthly, quarterly
Referral marketing is a solid strategy to build higher engagement levels between brands and consumers. A new infographic from Extole offers tips for weekly, monthly and quarterly strategies.
Email can be one of the strongest referral avenues for many retailers, but not all brands are using all three top-performing streams - the promotional email, the transactional email and the welcome email to build referral traffic.
Welcome emails are just that - a welcome from the retailer to the consumer who has signed up for a list. The key with welcome emails is to include an area to tell the subscriber how to earn rewards or discounts by referring their friends. A similar line or clickable link can be embedded into transactional emails, encouraging subscribers and shoppers to refer friends to earn extra savings. Finally, retailers can use promotional emails to drive awareness of a referral program.
As for Extole's top three tips:
• Weekly: remind shoppers to share the brand through social networks. For example, they note Thursdays drive the most in-week referral traffic but Mondays have the highest CTR and conversion rates
• Monthly: send a dedicated email to remind list members about the program. For example: Shares, clicks and conversions are normally higher than average during the first third of the month than in the last third
• Quarterly: Run special promotions for shoppers doings the most to advocate in social networks for your brand. For example, retailers could offer double rewards to these shoppers, who have been shown to drive 2-5x the standard weekly conversion rates
Image via Shutterstock
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