In an enterprise referral program, you encourage customers to share your brand with their friends, family members, peers, or colleagues.<\/p>\r\n\r\n\r\n\r\n
Your customer then earns incentives (or referral rewards<\/a>) whenever the people they refer make their first purchase from you.\u00a0\u00a0<\/p>\r\n\r\n\r\n\r\n Your enterprise can easily track these referrals and any generated revenue with specialized software. .<\/p>\r\n\r\n\r\n\r\n There are many benefits to developing your own enterprise referral program.\u00a0\u00a0<\/p>\r\n\r\n\r\n\r\n To create a high-performing enterprise referral program, follow these essential steps.<\/p>\r\n\r\n\r\n\r\n Knowing your customers and their preferences well can help you create a referral program that\u2019s highly persuasive. Customers will be quick to join a program that speaks their language and meets their expectations.\u00a0<\/p>\r\n\r\n\r\n\r\n Ask these three important questions as part of your customer research:<\/p>\r\n\r\n\r\n\r\n The answer is your unique selling point (USP), or the key factor that helps you stand out from the competition. Remind them of this USP when encouraging them to refer their friends.\u00a0<\/p>\r\n\r\n\r\n\r\n Incorporate these recommendations in your marketing campaigns. Test different strategies and scale the ones that work the best. Or use different approaches on different channels to increase your potential referrals.<\/p>\r\n\r\n\r\n\r\n Do they prefer email, social media, or SMS? Are there other channels you haven\u2019t thought about or aren\u2019t aware of?After spending some time to understand the type of content that works well on these platforms, you\u2019ll want to concentrate your marketing efforts on these channels.<\/p>\r\n\r\n\r\n\r\n Referral software lets you track exactly where every referral came from and instantly issue rewards for successful sales. <\/strong>With all these benefits, it\u2019s critical to choose the right software for your unique business needs.\u00a0<\/p>\r\n\r\n\r\n\r\n Here are some of the most important features your ideal enterprise referral marketing software should offer:<\/p>\r\n\r\n\r\n\r\n When all your systems are working together, your communications and productivity are more streamlined. Check the software\u2019s list of integrations to see whether it meshes well with the software stack you already have.<\/strong><\/p>\r\n\r\n\r\n\r\n Make sure the software also offers API integration, a way to connect two or more different applications so they can transfer and share their data.\u00a0<\/p>\r\n\r\n\r\n\r\n If your enterprise business uses a multi-step sales process and complex reward structure, check if the software can handle these requirements. In the end,\u00a0 it should be a fairly easy process for you to customize the software for your needs.<\/p>\r\n\r\n\r\n\r\n Personalization has become a necessity for big businesses to develop brand loyalty and increase their customer lifetime value (CLV).\u00a0<\/p>\r\n\r\n\r\n\r\n Your software should also allow customizable branding of your referral program.<\/strong> You want your referral program to carry your brand logo, colors, themes, and messaging, so the customer has strong brand recognition and understands the benefits of staying connected to your brand.<\/p>\r\n\r\n\r\n\r\n Your enterprise referral program software should also allow you to send personalized messaging to each and every customer.\u00a0<\/p>\r\n\r\n\r\n\r\n Speed is of the essence in marketing. If a program is\u00a0 going to take weeks to set up, if there\u2019s going to be a large learning curve, and if there isn\u2019t much visible customer support, the software is not right for you. Rather, referral software should let you launch within a few days.<\/p>\r\n\r\n\r\n\r\n This includes automating the promotion of your referral program. The less manual work required, the better. You don\u2019t want to allocate valuable resources to handle tasks that can be readily automated.<\/p>\r\n\r\n\r\n\r\n Your enterprise referral program should be able to handle scaling without charging you additional money every time a newly referred customer comes in. You shouldn\u2019t be penalized for your success!<\/p>\r\n\r\n\r\n\r\n An effective program should give you access to metrics, and trends in the form of thorough analytics and reports.<\/strong> You\u2019ll need these dashboard analytics to see how your referral program is performing, and then make smart marketing decisions to increase your bottom line.<\/p>\r\n\r\n\r\n\r\n Personalized support is key for all stages of setting up and running your program. Ideally, a dedicated onboarding specialist or success manager will share how everything works and help you best deploy the software for maximum success.\u00a0<\/p>\r\n Pre-launch marketing creates a buzz around your program before it goes live to your entire customer base. That way, when it does launch to everyone, you\u2019ll have customers rushing in with excitement.\u00a0<\/p>\r\n\r\n\r\n\r\n Your pre-launch referral program should be limited to a select few customers \u2013 the ones who\u2019ve shown the greatest love for your brand.<\/strong>\u00a0<\/p>\r\n\r\n\r\n\r\n This exercise will give you an idea of consumer sentiment about your program, as well as make your selected customers feel appreciated.<\/p>\r\n\r\n\r\n\r\n It\u2019s recommended to invite the following types of customers to your program first, before launching widely:<\/p>\r\n\r\n\r\n\r\n The best rewards are ones your customers genuinely want.<\/strong> Use customer surveys to find out what customers would value most as a referral reward.\u00a0<\/p>\r\n\r\n\r\n\r\n To encourage repeat purchases, it\u2019s also best if the rewards also link back to your brand.\u00a0<\/p>\r\n\r\n\r\n\r\n The following are some examples of popular rewards you can incorporate into your enterprise referral marketing:<\/p>\r\n\r\n\r\n\r\n Whatever rewards you choose, they should cost less than your average customer acquisition cost, but should still be attractive and motivating enough for customers to participate in your referral program.<\/p>\r\n\r\n\r\n\r\n Aside from picking the right type of rewards, it\u2019s important to choose the most motivating reward structure.<\/p>\r\n\r\n\r\n\r\n Reward both the referring customer and the new customer, a practice known as a double-sided reward.\u00a0<\/p>\r\n\r\n\r\n\r\n Double-sided rewards encourage new customers to make their first purchase, while also encouraging existing customers to make repeat purchases and refer more friends.\u00a0<\/p>\r\n\r\n\r\n\r\n The double-sided reward structure also motivates referrals for more intrinsic reasons. Customers see the altruistic benefit of recommending a good product or service, and helping a friend with discounts, credits, or freebies if they choose to purchase.\u00a0<\/p>\r\n\r\n\r\n\r\n (Remember that rewards should always tie back to your business to create these altruistic effects.)\u00a0<\/p>\r\n\r\n\r\n\r\n Previously referred friends will also want to refer their own friends and family, potentially creating a cycle of continuous referrals.\u00a0\u00a0<\/p>\r\n\r\n\r\n\r\n Besides implementing a double-sided reward structure, here are some other effective enterprise referral reward structures to consider:<\/p>\r\n\r\n\r\n\r\n In a tiered reward structure, the rewards grow in value after someone makes a certain number of referrals. The more the customer refers, the more they stand to earn.<\/p>\r\n\r\n\r\n\r\n Along with receiving rewards for each referral, a gamified reward structure invites referrers to enter contests for additional prizes. For example, each referral can automatically enter them into a draw for an extra prize. Or, you can provide high-value rewards for people who refer the most friends during a given month, season, or year.\u00a0<\/p>\r\n You can have the most well-designed referral program with amazingly attractive rewards. But your program won\u2019t gain any traction if people don\u2019t know it exists! Promote your referral program<\/a> in the following places:<\/p>\r\n\r\n\r\n\r\n Nothing is more annoying to a customer who\u2019s pumped to promote your program than a difficult user experience. Make the sharing experience easy to encourage customer sharing.\u00a0<\/p>\r\n\r\n\r\n\r\n To maximize sharing once you\u2019ve optimized the customer experience, include a section on your landing page that explains the referral program concisely, step-by-step. Keep it simple, easy-to-read, and free from unnecessary jargon.<\/p>\r\n\r\n\r\n\r\n Create a referral FAQ<\/a> section that demystifies the most common questions customers will have about the program.\u00a0<\/p>\r\n\r\n\r\n\r\n Apply the following best practices when developing your referral FAQ:<\/p>\r\n\r\n\r\n\r\n Your referral page should link to a <\/strong>separate<\/em><\/strong> FAQ page.<\/strong>\u00a0<\/p>\r\n\r\n\r\n\r\n The referral FAQs should answer common questions\/concerns about the referral program and<\/strong> be easy to read.<\/strong><\/p>\r\n\r\n\r\n\r\n The more personalized the referral message, the more likely the friend is to purchase from you. (A referral message is the message the new lead receives when their friend recommends your brand.)<\/p>\r\n\r\n\r\n\r\n The message the customer sends to their friend should sound like it\u2019s from the customer, not from your company.\u00a0<\/p>\r\n\r\n\r\n\r\n Last but not the least, track your enterprise referral program\u2019s performance. You\u2019ll want to set detailed goals and keep tabs on your progress to optimize your results. Here are some KPIs (key performance indicators) we recommend to track:<\/p>\r\n\r\n\r\n\r\n The following enterprise referral program examples make use of the best practices we\u2019ve outlined in this guide. We also point out some key takeaways from each program.\u00a0<\/p>\r\n\r\n\r\n\r\n The ActiveCampaign referral program<\/a> checks all the boxes: easy sharing, multiple referral options, enticing rewards, and streamlined tracking.<\/p>\r\n\r\n\r\n\r\n Key takeaway for big businesses:<\/strong> Your referral program will often sell itself if it\u2019s optimized for conversions. Integrating a program sign-up option into your purchasing process removes time-consuming steps and\u00a0 makes referring friends much quicker. On the referral page or pop-up, it\u2019s best to offer many ways to share and motivate users with valuable rewards and a lifetime referral tracker.\u00a0<\/p>\r\n\r\n\r\n\r\n Katie Couric\u2019 Media\u2019s referral program<\/a> uses simplicity and gamification to get referrals on repeat.\u00a0<\/p>\r\n\r\n\r\n\r\n Key takeaway for big businesses<\/strong>: Gamification is great for big businesses with a strong brand following and a large community of hardcore fans. Couric\u2019s referral program page is a great example of how you don\u2019t need a lot of bells and whistles to promote your program. Keeping it simple with the need for very few clicks and taps can be just as effective when there\u2019s something valuable on offer for your referrers.<\/p>\r\n\r\n\r\n\r\nWhy do you need an enterprise referral program?<\/h2>\r\n\r\n\r\n\r\n
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Enterprise referral program best practices<\/h2>\r\n\r\n\r\n\r\n
1. Know your customers well<\/h2>\r\n\r\n\r\n\r\n
Why did customers choose to buy from you over a competitor?\u00a0<\/h3>\r\n\r\n\r\n\r\n
What would motivate customers to share your brand with their friends?\u00a0<\/h3>\r\n\r\n\r\n\r\n
How do customers naturally share things they love with their friends?<\/h3>\r\n\r\n\r\n\r\n
2. Choose the right referral software<\/h2>\r\n\r\n\r\n\r\n
Integrates well with your existing tools and processes\u00a0<\/h3>\r\n\r\n\r\n\r\n
Lets you personalize the program to your brand\u2019s needs<\/h3>\r\n\r\n\r\n\r\n
Allows you to launch your program as quickly as possible<\/h3>\r\n\r\n\r\n\r\n
Automates all aspects of running a program<\/h3>\r\n\r\n\r\n\r\n
Handles unlimited referrals with no extra cost per referral<\/h3>\r\n\r\n\r\n\r\n
Collects detailed program data<\/h3>\r\n\r\n\r\n\r\n
Comes with expert, personalized support<\/h3>\r\n\r\n\r\n\r\n
3. Consider pre-launching the program to your best customers<\/h2>\r\n\r\n\r\n\r\n
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4. Offer valuable rewards for customer referrals<\/h2>\r\n\r\n\r\n\r\n
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5. Choose a double-sided reward structure<\/h2>\r\n\r\n\r\n\r\n
6. Consider other proven reward structures for existing customers<\/h2>\r\n\r\n\r\n\r\n
A tiered reward structure<\/h3>\r\n\r\n\r\n\r\n
A gamified reward structure<\/h3>\r\n\r\n\r\n\r\n
7. Promote your referral program<\/h2>\r\n\r\n\r\n\r\n
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8. Make sharing easy<\/h2>\r\n\r\n\r\n\r\n
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9. Publish a referral FAQ<\/h2>\r\n\r\n\r\n\r\n
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10. Create a referral message that sounds like it\u2019s coming from a friend<\/h2>\r\n\r\n\r\n\r\n
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11. Track your referral program\u2019s performance<\/h2>\r\n\r\n\r\n\r\n
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Enterprise referral program examples<\/h2>\r\n\r\n\r\n\r\n
ActiveCampaign<\/h3>\r\n\r\n\r\n\r\n
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![\"activecampaign](\"https:\/\/referralrock.com\/blog\/wp-content\/uploads\/2022\/01\/activecampaign-enterprise-referral-program.png\" "\\"\\"")
<\/figure>\r\n\r\n\r\n\r\nWake-Up Call (Katie Couric Media)<\/h3>\r\n\r\n\r\n\r\n
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![\"kcm](\"https:\/\/referralrock.com\/blog\/wp-content\/uploads\/2022\/01\/kcm-wake-up-call-enterprise-referral-program-1.png\" "\\"\\"")
<\/figure>\r\n\r\n\r\n\r\n![\"kcm](\"https:\/\/referralrock.com\/blog\/wp-content\/uploads\/2022\/01\/kcm-wake-up-call-enterprise-referral-program-2.png\" "\\"\\"")
<\/figure>\r\n\r\n\r\n\r\nGrover<\/strong><\/h3>\r\n\r\n\r\n\r\n
![\"grover](\"https:\/\/referralrock.com\/blog\/wp-content\/uploads\/2022\/01\/grover-referral-program.png\" "\\"\\"")
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