One great way to jump-start your referral marketing is to offer existing customers with additional discounts and rewards at the time of purchase.
For example, consider offering a coupon code or special discount in exchange for that customer sharing their purchase with his/her friends via social media.
Groupon did this very well by offering large discounts for every referral a person made via social media. Providing discount and savings options is a fantastic way to not only encourage referrals, but to reward existing customers by making their purchase more affordable.
It’s a win-win!
Study your market to determine what type of discount or other financial incentive they would be most interested in.
- Are they looking for a coupon code on a certain product?
- Would they prefer a discount on their current order or a future purchase?
- Would they like a percentage off an entire order rather than a discount on just one product?
Test out different incentive offers to see what your market will best respond to. Remember to always keep track of your incentive campaigns so you can adequately measure results.