“If you build it, they will come.” Well, maybe in most cases, but not for a referral program. When starting your referral program, you obviously need to publicize that you have it in running. Here are 4 simple steps to effectively promote what could be your most profitable marketing channel:

Because the concept of referral marketing is still somewhat new to many companies, some marketers and growth strategists opt to start small — launching a referral program, but testing it with just a few dozen (smaller companies) or a few thousand (larger enterprise brands) customers before unveiling it to their full database of contacts. While that “pilot” approach might make sense on the surface, it almost always fails.

Here’s an existential question to answer: If you have a referral marketing program in place and no one knows about it, does it really exist? If your referral program isn’t public facing or it’s difficult to use and share with the click of a button, then you’ll severely limit your performance. The most successful brands feature their referral programs on their website, in mobile apps, and across highest-performing marketing channels — and they ensure the referral experience is painless and ...

It's not at all difficult to imagine that word-of-mouth is one of the oldest forms of marketing. Long before most people could even write — much less live-tweet an event — farmers and craftsmen were urging their customers to tell friends and family where to find the best olive oil and sturdiest spears. But old doesn’t mean irrelevant. There’s been a renewed interest in referral programs lately, so let's explore the importance of them in our digital age.

Most marketing executives understand developing and establishing a brand is important. It's not necessarily easy, and, it's only half the battle. To win, you must take it a step further. That step is to not only recognize your brand, but to develop a passion for it. According to consulting firm Bain & Company, it costs 6 times more to attract a new customer than it does to keep an existing one. What’s more, a mere 5% increase in customer retention can boost profits by up to 95%. This is where ...

Fashion, specifically, retail, is changing. With retail stores closing, marketing tactics of “discoverability” – for example, placing new products next to customer favorites – are seeing diminishing returns. According to a Morningstar report, malls across the United States are closing in record numbers, citing ecommerce as a primary reason.