Every business is different, so when it comes to a referral rewards program, there is no exception. An incentive that works well for one business may not work for another. It’s all about planning a referral program and incentive to fit the business and motivate a customer.
Think of the best referral programs out there. What do they all have in common? Well, the best referral programs typically include these three qualities: they have a targeted promotion, they use incentives that fit their customers, and they have strong advocates. Let’s see how these qualities make up the best referral program ideas.
A Personal Anecdote: Within a relatively short distance of my home, there are two very similar places to get a haircut. One is about a three-minute drive, while the other is about fifteen minutes away. When I first moved here, a promotion in the mail brought me to the store farther away—I was looking to save a few bucks and valued the savings over the convenience of the other store. Shopping discounts can turn a 1 time shopper into a return customer.
Incentives can be a great way to fuel your referral program and convince customers to recommend your business to their friends and family. Here, we’ll take a look at the pros and cons of customer incentives.
No business and customer is exactly alike. There are many things to consider, when deciding how you want to incentivize your customers.