How to Achieve Viral Growth in the Referral Marketing Space In 2023
Posted by naxumadmin / April 7, 2023
The Referral Marketing field, like any other lucrative business today, is constantly evolving. With technology granting anyone and everyone instant gratification, people have grown impatient and this often results in short attention spans. That said, it is imperative that your direct selling business address the two most challenging factors in the field today:
Limited Access to Data: How do you make informed decisions in your direct selling company? Unlike direct-to-consumer brands, most direct sales companies lack critical data on what actions from their field are generating new members and sales. The primary reason for this is the lack of a clear system or data collection points in each market to track specific content and actions that create new sales and customers. Direct sales companies are often disconnected from the field, leaving them blind to what is working and what is not.
Increased Competition: With the emergence of the gig economy and other competitors, people now expect easy-to-follow systems that optimize their limited time. Current software platforms often fall short of supporting members with limited time, resulting in low activity and poor results. Direct sales companies need to adapt to these trends and provide effective systems that can meet the needs of their members.
With NaXum’s Predictive Actions Technology, your members are automatically shown the best-suggested actions at any given time to grow their business.
Companies today are veering away from a report-based culture of expecting members to look at old reports to know what to do next. Today, NaXum’s action-based culture makes use of its own Smart AI System that tells your members what to do next.
In lieu of constant training sessions and sit-downs, NaXum’s predictive actions technology gives the newest member of the team the best chance of reaching real success without the need for a step-by-step guide or mentor.
NaXum believes that it’s their divine mission to pick up the slack where human mentorship ends with predictive action technology to deliver the best and proven actions for success.
NaXum’s (S.P.E.E.D) is a proven framework for achieving viral growth in referral marketing. Let’s take a closer look at each of the five elements:
- S-Sharing: This is the first step in the process of achieving viral growth. Sharing involves spreading the word about your product or service with as many people as possible. By sharing your product or service, you create awareness and generate interest, which can lead to new customers and business growth.
- P-Presenting: Once you have generated interest through sharing, it is essential to present your product or service effectively. This involves showcasing the unique benefits of your product or service and demonstrating how it can solve the needs and problems of potential customers.
- E-Elevating: Elevating involves taking your product or service to the next level. This means going beyond what is expected and providing exceptional service and support to your customers. By elevating the customer experience, you create loyal customers who will be more likely to recommend your product or service to others.
- E-Enrolling: The next step is to enroll potential customers into your business or program. This involves helping them understand the benefits of joining and providing them with the necessary information to make an informed decision.
- D-Duplication: Duplication is the key to achieving viral growth. This means teaching your team members to follow the same process that you have used to generate growth. By duplicating the process, you can create a team of successful members who will continue to share, present, elevate, enroll, and duplicate the process, leading to exponential growth.
In conclusion, S.P.E.E.D. is an effective framework for achieving viral growth in referral marketing. By following the five steps of sharing, presenting, elevating, enrolling, and duplication, businesses can create a successful and sustainable growth strategy.
How are you creating viral growth for your company? Are you making the right decisions based on the provided data? Book a discovery call today and learn more about viral growth, predictive actions, and NaXum’s UNIFY.
