Today’s businesses are operating in a highly competitive environment. And at times, it could cost a fortune to market a business.
So, how do you promote your business in a competitive market without burning your pocket? How will your startup easily close more sales in a competitive market and on a small budget?
The fact is that one of the essential tasks for any business is to plan and implement an effective marketing strategy.
However, this is also one of the most challenging and sometimes expensive things to do.
Today, consumers are being bombarded by advertisements both on TV, radio, and in traditional print media.
This is because every brand wants to sell their products or services to potential customers. In an attempt to sell, there is only one message and it is usually to buy from them.
However, popular paid media advertising and pay per click campaigns are not cheap even though they are not really that effective.
Why businesses need to engage in referral marketing
Traditional paid media advertising is somehow expensive and doesn’t really offer much in most cases. Big brands with a fortune in marketing budget can afford to spend big but not small startup businesses.
It means that small businesses will have to engage in budget-friendly small business marketing strategies that work like magic.
This is why so many brands are now looking into traditional word-of-mouth or referral marketing to make more sales.
Word-of-mouth marketing is all about incentivizing your existing customers to bring more business. The fact is that referred customers have a higher retention rate, and this difference persists over time.
So, how do businesses keep customers happy for word-of-mouth marketing and great brand reputation? How do you incentivise customers to bring more sales? Businesses typically incentivise customers through special offers, discounts, free gifts and others.
Referral marketing tools to grow your business
Referral marketing is somehow similar to affiliate marketing and it is really growing. The fact is that brands are now looking for other means than the usual traditional marketing to improve sales. This is arguably the best reason for the sudden growth in referral marketing.
With the help of the social media, it’s much easier to get new clients or customers through word-of-mouth or referral marketing. Referral marketing tools are key to acquiring new loyal customers and increase sales. Below are some of the best referral marketing tools you can use to effectively grow your business.
#1]. Increase referral sales @ InviteReferrals.com
InviteReferrals is one of the best refer-a-friend software for mobile app and website. It is a simplest tool to design and launch customer referral campaigns to easily grow your business.
How does it work? Customer invites friends through the referral program, friend accepts, installs the mobile app and completes the purchase. Then InviteReferrals will send a coupon to the referrer over email for driving a referral sale.
#2]. Achieve your sales goals @ Woobox.com
Woobox lets you easily create engaging and fun marketing campaigns. This tool allows you to create beautiful contests, giveaways, and other campaigns with ease.
Trusted by over 4 million brands to help them run effective campaigns, the tool comes with powerful features that make customisation easy. It means you can easily build the campaign that is right for your business.
#3]. Improve user engagement @ CleverTap.com
CleverTap offers a user-centric approach to app analytics and user engagement. Its ability to have analytics and engagement on the same platform is critical to customer acquisition and retention strategy.
The tool also features advanced segmentation engine that allows businesses to send hyper-contextual messages to customers based on their past experiences.
#4]. Track and analyse customer movement @ ReferralSaaSquatch.com
Referral SaaSquatch is a good referral marketing tool to grow your business. It offers customised referral program software and expertise to businesses with thousands to customers.
The app lets you improve your referral sales, track and analyse how your customers move through the referral marketing funnel. Plans start from $399 a month, but the demo and individual consultation are available on request.
#5]. Reach new customers @ InviteBox.com
InviteBox lets you add a referral program to your site in minutes. Businesses can you this referral marketing tool to reach new customers.
This is the tool you need to come up with great reward ideas for your referral program. It helps you design and launch a referral program to improve customer acquisition and sales. You can offer an instant reward, goal-based rewards, referral contest, sweepstakes and giveaways.
#6]. Create multiple marketing campaigns @ GeniusReferrals.com
Genius Referrals is another great referral marketing platform that helps businesses to acquire new customers using word-of-mouth and recommendation techniques.
The powerful tool lets you design and personalise your campaigns within munites. It offers the solutions your company needs for successfully implementing referral marketing programs at low cost.
#7]. Ignite growth with advocate marketing @ Influitive.com
Influitive’s AdvocateHub motivates advocates to share content, reviews, and testimonials across the social web, resulting in more impressions, engagement and traffic for your brand.
This is one of the best platforms for customer advocacy and engagement. Enrols and motivates customers as advocates for your business now.
#8]. Track and analyse customer movement @ Extole.com
Extole offers advocate solutions designed to match your business’s customer acquisition goals. Microsoft and Virgin America are said to be among the major brands using the tool.
The platform easily lets you turn customers into advocates with their retail-specific solution. It makes word-of-mouth a scalable channel for customer acquisition. Free demo and extensive training resources are available on the website.
#9]. Capture and convert new customers @ ReveMarketing.com
Reve Marketing is a customer acquisition and retention platform that generates viral referrals for businesses, using the social connections of their customers.
It offers ready-made martech solutions to turn up the volume on referral programs, digital promotions, loyalty programs, customer engagement and more. It lets you kickstart your marketing programs to capture and convert new customers.
#10]. Referral marketing made easy @ RewardStream.com
RewardStream offers referral programs that get results for businesses of any size. It lets you reward your advocates for promoting your business to their friends, and it’s easy, affordable and can grow as you do.
RewardStream is a referral marketing software solution that brings you new customers. You can easily monitor your program success and tune it to help your customers get the most from it.