How can you acquire 15–20% more customers through referral marketing?
Brad Kam is the VP at Curebit, and he talks to us about how they acquire new customers through referral marketing some of the most well known ecommerce brands.
Their clients include exciting brands such as Diamond Candles, Bonobos, Toms, and Serena and Lily.
They are partly responsible for helping Bonobos double their customer base year-after-year, as Curebit helped Bonobos drive over 25% of their new customers in 2012, and have managed to keep up the pace of referrals each year.
Brad is an expert in referral marketing, and today we’re going to talk about how you can build a strong referral marketing program for your company, and the mistakes most business owners make when trying to get ready.
Topics Discussed Throughout This Interview
- Why having customers share your offers and share about your brand with their friends is a sign of health.
- How they helped Bonobos drive 25%.
- Why companies with the highest share rates are going to grow the fastest.
- Why you need to treat referral marketing the same as any other marketing channel.
- How you can take away some of the risk when creating a referral program and best practices.
- What mistakes most ecommerce owners make when trying to launch their own referral marketing program.
- The three types of referral marketing campaigns.
- How to measure the inverse of customer acquisition cost, something called referrer activation costs.
- Plus a lot more!
Links and Resources Mentioned
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