3 Ways Social Referrals Can Transform your Business Growth


3 Ways Social Referrals Can Transform your Business Growth

Social Platforms have become a powerful tool for connecting many people and allowing them to share their thoughts and opinions with the world. In fact, you could call it this generation’s version of word of mouth marketing.

So, what impact can social platforms have on your business’ growth?

 According to Nielsen, 43% of consumers are more likely to buy a new product when learning about it from friends on social media.

The premise is quite simple. If your customers are pleased with your product/service, they’ll be willing to rave about it on their social media and this will result in other people learning about your brand and wanting to give it a go.

 A social referral carries far more weight than running an ad campaign. The former involves a friend or acquaintance – somebody your prospect trusts – explaining how amazing your brand is. The latter is a cold advert clearly trying to entice somebody to purchase. 

In other words, this is the difference between sending somebody a cold email and getting a warm intro from one of their close friends! The impact is far greater when the connection is warm.

Using social platforms to drive referrals is a fantastic way to make your business grow rapidly. But, this process will not happen overnight. You must lay the foundations for success.

Work on building campaigns that generate conversions and compel audiences to spread the word about your brand.

Here are the top 3 tips for driving more referrals!

 

1) Nail your niche!

The truth is not every single person that learns about you on social media will be a suitable customer for you. This is a common mistake that many business owners make. 

It’s imperative that you define your niche and target audience. Factors like their age, location, or purchasing power will determine whether somebody is an ideal customer or otherwise for your product or service.

 This is where your existing customers come into play. It’s very likely that they are connected with other similar people in your niche. When they endorse you, they are essentially providing social proof that attracts the ideal customer for you.

Another essential thing is content. To generate interest, your content should be so eye-catching that it compels people to share it. It must genuinely reflect your brand and relate to your audience. If your audience is made up of teenagers, post content which they can resonate with. 

It is also important to capture the data behind your content. What kind of response is your content-generating? Is it getting you any new followers? How engaging is your content? You can get a gist of all the data behind your content with the help of a social media analytics tool

 HOT TIP: Keep up to date with the trends! Your audience is more likely to relate with your content if it’s reflective of current trends and happenings! It shows your brand cares about the space you operate in and which your audience cares so deeply about!

 

2) Provide Motivation

Your friends, family and loyal customers will be pleased to refer you and will do it for free. But you need to ensure that you must provide a level of customer experience so powerful that they feel an urge to share it with their close connections.

 This is not an easy feat at all. Think carefully – are you leaving your customers with a feeling of “Wow”?  Are they eagerly waiting to purchase again from you or interact with your content?

Social listening can come in handy when you want to understand how your audience perceives your content. Dig into your audience’s likes and preferences by listening to their conversations on social platforms. This will help you frame campaigns that generate referrals. 

 Now, there are other ways to incentivize a referral. You can try various schemes; some customers appreciate monetary compensation, whilst others may want a discount or free product. Connect with your audience, run competitions and actively encourage them to spread the word. But remember – you cannot do this without a foundation of providing a great experience.

 

 3) Make it simple and accessible

 Your customers are busy and most times, you are not the center of their universe! They will appreciate the convenience carefully placed Social Share Buttons which make it quick and easy for them to share you with their friends. If they have to go out of their way to share your brand, chances are they won’t do it!

 Again, it all starts with understanding your target audience. If your audience is a young demographic who is active on Snapchat, it would not make sense to lead them to LinkedIn! On the converse – if your audience is made up of business professionals, providing a Snapchat referral code may not convert so well! Start with your audience in mind.

Summing It Up!

Social referrals have the potential to transform your business growth drastically – but only if done right. Identify your niche. Deliver an exceptional experience. Then make it simple to share and refer. Do all of this whilst keeping your customer at the core.

Find out how engaged your customers are today using GroHawk. If you enjoyed this article, you can try this free Customer Experience EBook.

Author

Valentina

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