Referral marketing final

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<ul><li> 1. Referral Marketing<br />Q2 2011<br /></li></ul> <p> 2. Agenda<br />Overview<br />Philosophy of referral<br />Potential marketing partners, who are you?<br />List of potential marketing partners<br />Action plan<br />Execution<br />Recommendations<br /> 3. Overview<br />90%of people cite product referrals as the most influential and trusted form of advertising<br />70% ofpeople trust consumer opinions posted online<br />Brand websites are trusted at that same 70%level as online consumer opinions<br /> 4. Worth noting<br />A satisfied customer will tell 3 people about her positive experience with you within a month<br />An unhappy customer will tell 7 people of a bad experience within a week<br />Referral/ word of mouth is ranked the most important factor that influence peoples purchase decision *<br />* According to McKinsey 2010 report<br /> 5. Ideal customer life cycle<br /> 6. With referral<br />Know, trust are eliminated thanks to the power of referral <br /> 7. Philosophy of referral<br /> 8. Philosophy of referral<br /> 9. High quality customer service<br />Before purchase stage (consulting service)<br />During payment stage<br />Cards with product care instruction<br />Wrapping paper absorbed by perfume<br />After payment stage<br />Purposes:<br />Increase the personal relationship with customers<br />Collect data to analyse the customers behaviour<br />Monitor the sales service and double check the customers satisfaction<br />How?<br />Follow-up call service 2-3 days after the delivery status is done <br />This team should be separated from the sales team<br /> 10. Referral Marketing in action<br /> 11. Referral strategies<br />Customer refers to customer (personal partner)<br />Employees refer to their networks (personal partner)<br />Business refers to business (strategic business partner) <br /> 12. Personal partnership programme<br />Why?<br />They like 2en so much<br />They find someone has the same need as theirs<br />Their personal image to become a trusted source<br />They know about 2en better than anyone else<br /> 13. Benefits to motivate a personal partner<br />Commission<br />7% of the value of total receipts we have from their referrals<br />Get VND 1mil as a bonus for the total receipts from VND 80-100mil <br />Get VND 2mil as a bonus for the total receipts over 100 mil <br />Higher level of personal partner: 10% off every purchase, except for top luxurious brands such as Movado<br />VIP benefit<br /> The right to know and purchase new arrival products 1 or 2 days before they are physically available in showroom/ website <br /> 14. Strategic partnership programme<br />Who?<br />Share the same target market<br />From 24 upwards<br />Middle to high class consumers<br />Beauty &amp; fashion savvy <br />Well known in the market<br />Why should they refer?<br />Add value to the relationships they have with their customers<br />Expect us to refer them in return<br />Trust 2en 100%<br /> 15. How2en can cooperate with strategic partners<br />Co-branding<br />We can do brochures, leaflets, posters or joint magazines together<br />Present logos, introductions on each others website <br />Giving each other products as a prize for the winner of the partners lottery competition for their customers<br />Joint marketing<br />Employ referral engine<br />Create campaigns to exchange each others vouchers and marketing materials<br />Events/ Workshops<br />Co-organised events to raise awareness over fashion related trends in which we can promote our products, services together<br /> 16. Benefitsstrategic partners can get <br />Approach 2en customer base with about 3000 customers who are high class and savvy consumers, some are celebrities<br />Reach new distinctive ways of marketing<br />With the expertise in online performance: 2en is the most visited online fashion business in Vietnam <br />The traffic is normally 5000 visits per day<br />More than 15000 Facebook fans<br />Strengthen the relationshipwith customers by offering related high quality services<br />Access 2ens partnership network and enjoy efficient ways of marketing through other 2ens business partners<br />Get commission based on referral activities<br /> 17. Commission packages for strategic partners<br />7% commission package<br />7% of the value of total receipts we have from their referrals<br />Get VND 1mil as a bonus for the total receipts from VND 80-100mil <br />Get VND 2mil as a bonus for the total receipts over 100 mil<br />Other bonuspackages<br />Get paid if 2en places ad light boxes at their branches<br />Share the costs of co-branding activities<br /> 18. Steps in action<br />Construct 2ens value network<br />Identify 2ens potential partners<br />Invitation to join<br />Activate 2ens partner network<br />Engage 2ens network<br />Follow up the network<br /> 19. Construct 2ens value network<br />Adopt the customers point of view as the principle of referral<br />Do I feel 100% confident referring my best customers to them?<br />The final purpose is to increase 2ens value in customers eyes<br />Identify 2ens potential partners <br />Share the same target customer<br />Have good reputation in the market<br />The category includes hair salons, beauty salons, fitness centres, dental clinics, and car dealers<br />Invitation to join<br />Show them 2ens interest to refer them to 2ens customers<br />Stress the key point of the cooperation is to benefit customers the most<br /> 20. Activate 2ens partner network<br />Co-branding should be considered carefully as it is the highest level of referral<br />Level 1: exchange vouchers, commission<br />Level 2: Co-organise events<br />Engage 2ens network<br />Follow up the network<br /> 21. Activate 2ens partner network<br />Co-branding should be considered carefully as it is the highest level of referral<br />Level 1: exchange vouchers, commission<br />Level 2: Co-organise events<br />Engage 2ens network<br />Commission<br />Cash in the form of vouchers<br />Free gifts as an added bonus<br />Follow up the network<br />Make a specific day of referral<br />Review every specific period <br />Should be employed first<br /> 22. List of potential strategic partners<br /> 23. List of potential strategic partners<br /> 24. Execution<br /> 25. Potential partners<br />Ngoc Dung cosmetic surgery &amp; skin care clinic<br />Tan Truong Tan beauty treatment centre<br />Kieu My fitness &amp; spa centre<br /> 26. 27. 28. Whats next?<br />Cooperate easily with Kieu My fitness &amp; spa<br />Employ a 7% commission package<br />Print out stickers with a specific promotion code to give them<br />Based on her referrals, treat her as a good source for VIP customer market<br />With Tan Truong Tan beauty treatment centre<br />Exchange coupons first to see how it works<br />Place leaflets/ poster/ advertising light box at branches <br />With Ngoc Dung cosmetic surgery<br />Employ the 7% commission package first<br />Should be cautious about their plan to publish magazine<br /> 29. Recommendations<br /> 30. Employ referral campaigns flexibly according to partners<br />Prepare leaflets/ business cards in hand<br />Prepare coupons<br />Co-branding should be considered carefully<br />Enhance the customer service<br />During payment stage<br />After sales care<br />Improve the interactivity of Facebook page<br /> 31. Thank you<br /></p>