empower the voice of your customers with referral marketing

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  • 1.Empower The Voice Of Your Customers With Referral Marketing #ReferralMarketing Webinar Sponsored by

2. #ReferralMarketing Welcome Webinar Attendees 3. #ReferralMarketing Follow This Webinar On Twitter #ReferralMarketing 4. #ReferralMarketing About Retail TouchPoints Launched in 2007 Over 28,000 subscribers To provide executives with relevant, insightful content across a variety of digital medium Free subscription to our weekly newsletter: WWW.RETAILTOUCHPOINTS.COM/SIGNUP 5. #ReferralMarketing Panelists Debbie Hauss Editor-in-Chief Retail TouchPoints MODERATOR Jen Leen Head of Demand Generation Extole Ernan Roman Founder ERDM Michael Hamp Minister of Finance and Special Ops Criquet Shirts 6. Empower the Voice of Your Customers with Referral Marketing Ernan Roman President, ERDM 6/24/14 7. Discussion Points Game changing insights from recent VoC Research: 5 Voice of Customer Research Based Prerequisites for Referral Marketing Songza: High-value Customer Experiences which drive word-of-mouth referrals. #ReferralMarketing 8. 5 VoC Research Based Prerequisites for Referral Marketi 9. Learnings from 12,000+ hours of VoC Interviews #ReferralMarketing 10. 5 VoC-based Prerequisites for Referral Marketing These 5 CX requirements must be satisfied to earn the right for customers to rave about you; #ReferralMarketing 11. 5 VoC-based Prerequisites for Referral Marketing These 5 CX requirements must be satisfied to earn the right for customers to rave about you; Engaging and competitively differentiating customer experiences are the foundation of todays customer relationships. Is this how consumers view your brand? #ReferralMarketing 12. 5 VoC-based Prerequisites for Referral Marketing These 5 CX requirements must be satisfied to earn the right for customers to rave about you; Engaging and competitively differentiating customer experiences are the foundation of todays customer relationships. Is this how consumers view your brand? Personalization of content, communications and experiences per customer's individual preferences are proof points that you care about your customers. Are your communications preference driven? #ReferralMarketing 13. 5 VoC-based Prerequisites for Referral Marketing Spray and pray blasts of email hurt your brand and alienate customers. How much damage might yours be causing? #ReferralMarketing 14. 5 VoC-based Prerequisites for Referral Marketing Spray and pray blasts of email hurt your brand and alienate customers. How much damage might yours be causing? Its not about self serve. Customers want guidance and education which delivers value and saves time. Are opportunities to engage and serve evident in each of your channels? #ReferralMarketing 15. 5 VoC-based Prerequisites for Referral Marketing Spray and pray blasts of email hurt your brand and alienate customers. How much damage might yours be causing? Its not about self serve. Customers want guidance and education which delivers value and saves time. Are opportunities to engage and serve evident in each of your channels? Authenticity, storytelling, emotion and real-time engagement in conversations are powerful elements in todays marketing. How does your marketing rate? #ReferralMarketing 16. Differentiation Through Deep Personalization and WoM Marketing 17. Create a Compelling Customer Experience #ReferralMarketing 18. Personalization of Context and Content Differentiation by personalizing to your needs right now; your context will dictate your content #ReferralMarketing 19. Relevance Drives Referrals Mondavi wanted to tell customers they make drinking wine with friends better. Created an ad that actually made drinking wine with friends better (versus pushing Mondavi wines). Song used in the commercial (commissioned by Mondavi for the commercial) was so perfect for the moment, that people took to Twitter to share the commercial and ask how they could get the Mondavi song. #ReferralMarketing 20. Mondavi Video 21. Josh Fenster @jDfenz Great native advertising by @Tostitos on @songza. #digitalmarketing Relevance drives referrals Reply Retweet Favorite More 22. Josh Fenster @jDfenz Great native advertising by @Tostitos on @songza. #digitalmarketing Relevance drives referrals Reply Retweet Favorite More Barbecuing with Tostitos 23. Niki Hillier @nikihi @Tostitos @songza @jDfenz Songza and lime tostitos and salsa complete me. Relevance drives referrals from Studio City, Los Angeles Reply Retweet Favorite More #ReferralMarketing 24. @songza @jDfenz Oh Songza, you complete us. TostitosVerified account @Tostitos Relevance drives referrals Reply Retweet Favorite More #ReferralMarketing 25. Relevance drives referrals 26. 5 Questions to Consider Regarding Your Referral Marketing Do customers think that your customer experience is truly engaging and competitively differentiating? Are your communications personalized per customer's individual preferences? Are you damaging your brand with low yield spray and pray marketing blasts? #ReferralMarketing 27. 5 Questions to Consider Regarding Your Referral Marketing Are you pushing customers into self serve to reduce your costs and as a result, reduce your value to customers? Would customers describe your marketing as having authenticity, storytelling, emotion and real-time engagement in social conversations? #ReferralMarketing 28. Additional Information for You: Todays Presentation Ebook; 5 Strategies for Transforming Your Customer Experience 14 Step Checklist For Breakthrough Multichannel Marketing 7 Marketing Mistakes You Need to Avoid Case Studies Blog; Ernans Insights on Marketing Best Practices #ReferralMarketing 29. #ReferralMarketing Referral Marketing 30. #ReferralMarketing The Referral Marketing Opportunity 31. #ReferralMarketing Your Customers Expect ItRef erral Program A dopt ion * based on Extole surveys of referral program adoption 5 1% 4 3 % 2 5 % of Financial Services of Sharing Economy of Internet Retailer 400 32. #ReferralMarketing Referral Results Ref erral Result s 4 0 % 3 -6 x 9 9 % share of acquisitions conversion rate retention rate upto uptoaverage 33. #ReferralMarketing Complete, End-to-End Program Ext ole: Complet e Pr ogr am Promotion Multiple Campaigns Incentives Analytics& Optimization Cash & Fraud Management Fulllment Refer & Earn $10 Gift Card $10 25%of A B ! approved approved approved Wednesday 26 Today Only 2x Rewards! 34. #ReferralMarketing Extole: the Leader in Referral Marketing 35. #ReferralMarketing Referral Marketing Best Practices 36. #ReferralMarketing Create the Offer 37. #ReferralMarketing Make it Easy to Share 38. #ReferralMarketing Streamlined Sharing 39. #ReferralMarketing Create an Engaging Friend Experience 40. #ReferralMarketing Friend Welcome Page 41. #ReferralMarketing Promote Strategically 42. #ReferralMarketing Promotion Drives Sharing & Conversion Promot ion Drives Sharing & Conversion 43. #ReferralMarketing#ReferralMarketing 44. #ReferralMarketing 45. #ReferralMarketing 46. #ReferralMarketing Hit Peak Performance with Timed Blasts 47. #ReferralMarketing High Performing Promotion 48. #ReferralMarketing Measure & Optimize 49. #ReferralMarketing Analyze and Optimize the Program 50. #ReferralMarketing Results Marketers Can Expect New Customer Acquisition Referred Customers: More loyal High LTV Low attrition rates 51. #ReferralMarketing Treat it as a Program Consider your audience Promote where they are Tailor your messaging Create a compelling offer 52. Criquet Shirts High Performance Shirts for the 19th Hole 53. Who we are Austin-based lifestyle brand Makers of vintage-inspired golf shirts, polos, and button downs Clothes for guys (and boys) who prefer a classic style and want to look as good off the course as they do on it Super soft organic cotton Predominantly online business 54. Goals of Referral Program Expand customer acquisition funnel Allow advocates to market for you Increase customer lifetime value 55. Consistent On-Brand Content Email Dedicated email campaigns Referral link on the bottom of every email Website Created personalized landing pages for bloggers to send readers Social Media Blogs Posts once per week (Facebook and Twitter) Give 15 / Get 15 button on Criquet Facebook page Referral program featured prominently on website o Homepage overlay, best performing link 56. Friends Dont Let Friends 57. Definitively Positive Results 8 dedicated emails Links on 110 other emails 15 Facebook posts 25 tweets Many press references Over 1 million impressions 2nd highest conversion rate of any marketing channel 58. Take Advantage of Referrals Keep offer simple o Give 15% / get $15 o Immediate gratification Increase top of the funnel o Sponsored posts are very effective Make sure content is on- brand and shareable 59. #ReferralMarketing Q&A Next Steps o Keep an eye out for the replay o Email hello@extole.com for more questions o Download Extoles Referral Marketing Best Practices for 2014 o Stay Current on Extole News and Happenings! email: hello@extole.com | web: www.extole.com | blog: extole.com/blog 60. #ReferralMarketing Q & A // Panelists Debbie Hauss Editor-in-Chief Retail TouchPoints MODERATOR Jen Leen Head of Demand Generation Extole Ernan Roman Founder ERDM Michael Hamp Minister of Finance and Special Ops Criquet Shirts 61. #ReferralMarketing Thanks for attending! http://rtou.ch/refmarketing

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