referral marketing final

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  • 1. Referral Marketing
    Q2 2011

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