Marketing Channel While Facebook, Instagram, and Google have always been the go-to advertising platforms, their cost per click continues Kazakhstan Phone Number List 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 Kazakhstan Phone Number List 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. Kazakhstan Phone Number List 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 Kazakhstan Phone Number List 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 Kazakhstan Phone Number List 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. So What Are The Risks Of Running Kazakhstan Phone Number List A Referral Program? In short, there aren’t any. Running a referral program will only require you to reward customers when the people that they refer qualify. So what we mean here is that referral programs operate based on how well they perform, rewarding referring customers only when a new prospect converts as a customer.