Surprised that your favorite blogger is promoting a product from your favorite brand? Don’t be. 82% of Americans seek recommendations from friends and family when considering a purchase, according to a study we completed in partnership with Nielsen.
In almost every industry, referrals are the gold standard of customer acquisition. Research has repeatedly shown that referred leads close faster, buy more, and stay longer — all with significantly less effort and at a much lower CPA than non-referred prospects. A University of Pennsylvania study found that referred customers are more loyal and profitable — by a 16% margin — than their non-referred counterparts.
I'm thrilled to announce that Ambassador has earned the ranking of #736 in the 36th annual Inc. 5000 list of fastest-growing private companies in America. This achievement was not possible without the amazing team of Diplomats who consistently live our core value of "OUTCARE," which stands for:
I'm humbled and extremely excited to share that Ambassador has earned the #6 (of 100) ranking of "Cool Places To Work" by Crain's Detroit, our 2nd consecutive year on this prestigious list. Being named one of the top 10 coolest places to work in a metro area with thousands of companies is a truly remarkable accomplishment.
Customer loyalty is critically important to business success. Even though most of us know this, the numbers may surprise even the most well-informed Marketers. According to a study by Customer Insight Group, Inc., loyal customers make up 55-70% of sales for a business. Furthermore, 78% of loyal customers are more than happy to spread the word about a brand they love.
More likely than not, customers joined your referral program because they love your product and the incentives offered. While not all referral programs yield the same results, there are some steps you can take to set your brand’s program up for success. In essence, your aim is to help your customers help you. Here are five best practices you can share with members of your referral program so they can effectively engage their networks and send more sales your way.