Referral marketing is a powerful tool than can scale your business overnight. Because it harnesses the power of person-to-person marketing and incentivizes people to refer your product to people they know, you get new leads at essentially no cost to you. Customers can earn discounts when their friends sign-up or buy, and you only deliver those prizes if they deliver for you…it’s a WIN-WIN.
Viral referral marketing is what has made companies like Dropbox, Dollar Shave Club, and Plated grow so fast.
In a second I’ll tell you about an awesome software as a service (SaaS) program called UpViral and tell you where you can check out an UpViral Review and Bonus that will blow your socks off…but first lets talk about what makes viral referral marketing so incredible.
There are three key ingredients that make viral referral marketing so powerful: targeting, trust, and viral reach.
Getting your message in front of the right people at the right time. Generally, with referral marketing people know their friends and connections well enough to know that they will benefit from your product or service.
People buy from people they trust. No one can argue with that. With referral marketing(related reading http://www.shopify.com/blog/15679636-referral-marketing-101-7-tactics-to-launch-your-own-referral-campaign), the promotion is coming from someone the customer already trusts, such as one of their friends or social connections.
Traditional marketing techniques, limit customer reach due to your budget and geographic location. The internet has all but made old marketing methods obsolete. With a simple Twitter tweet, Instagram selfie, or Facebook post, people can now reach hundreds, if not thousands of connections (who trust their opinions) in a matter of seconds. From there, the viral capacity of a message exploding overnight is insane.
So now that you've heard the potential of viral referral marketing…how do you tap into its power?
With just a click of a button, you can integrate contests into your existing offers. There are many applications out there to assist you with your viral referral marketing campaign. I came across a product called UpViral that has a clean, east-to-use interface and gives you the option of integrating with your existing set-up or allows you to use the built-in templates to make it a one-stop-shop. Check out this UpViral Review to get more information and claim an awesome bonus with your purchase.