9/7/2023 0 Comments Microsoft word frame templates![]() Most recently, referral marketing has allowed companies such as PayPal, Dropbox and Airbnb to grow exponentially with their personalized referral programs. ![]() Modern-day referral marketing now heavily relies on social media and the internet, allowing the scope of referrals to increase dramatically by reaching a far broader audience. In the past, referral marketing was purely focused on spreading information through verbal interaction with a close network. Referral marketing is a tool used by various businesses and corporations across a wide variety of different industries to grow and build customer bases. Different to multi-level marketing, there is no incentive for the original existing customer to drive or influence the subsequent referrals of the new customer – only the conversion of the initial, primary customer is rewarded. ![]() Different to pure word-of-mouth strategies which are primarily customer directed with the company unable to track, influence and measure message content referral marketing encourages and rewards the referrer for allowing a company to do so. Referral marketing is a word-of-mouth initiative designed by a company to incentivize existing customers to introduce their family, friends and contacts to become new customers. ![]()
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