North Stars
PressOmni-Channel Marketers Go All The Way With Referral Marketing Platforms
Posted by naxumadmin / August 9, 2022
To maximize profits today, companies across the globe are deploying omnichannel strategy segmentation to reach customers where the customer’s attention lives.
With teams arranged around channels for retail marketing, web, strategic partnerships, and social media, top firms are maximizing their potential like never before.
Traditional social media strategies for direct-to-consumer brands traditionally range around two core channels within social media to reach consumers.
Channel 1: Paid Advertising
It’s our familiar friend, paid advertising. Social media advertisement platforms have allowed businesses to segment, test, and reach their perfect customer like never before, but all at the cost of paying ‘upfront’ for the new customer.
Many companies today run an advertising strategy knowing that they will not make a single dollar from the new customer purchasing products until the 2nd or even 3rd repeat purchase.
Channel 2: Affiliate & Referral Marketing
Going one step further in social media, firms are launching referral marketing programs to incentivize their brand’s greatest fans to refer customers their way.
The major benefit of the referral marketing channel for the business is that the ‘cost of customer acquisition is now a fixed cost based on the commission percentage the company has set aside for rewarding the referral marketers.
In the referral marketing channels, most models have the company earning a profit on even the first customer’s purchase; a refreshing change from the paid advertising channels across the internet.
The real value and magic of viral referral offers come when the company invests in platforms, apps, systems, and content to create an experience around ‘being’ a referral marketer.
First Generation Referral Marketing:
Yes, by simply deploying a sales commission structure and a commission tracker platform to your ecosystem you as the business are technically ‘in’ referral marketing, but the truth is that today a modern referral marketing program requires so much more than just giving your promoters a link to share.
By only providing a link and no shareable assets to your referral marketers, we deem your company a first-generation referral marketing company.
Second Generation Referral Marketing:
By creating mobile apps and marketing systems the referral marketers engage with, companies are providing fun viral content the referral marketers enjoy sharing which increases the frequency of marketers sharing the brand’s messaging, while at the same time sharing fun, compliant content that brings proper messaging to the prospective customers that in the end click on the affiliate links.
The 2nd generation started with providing banner ads to referral marketers and today has evolved to pre-done social media posts and videos for marketers to share.
Third Generation Referral Marketing:
The current generation has referral marketers committing to daily habits and contests in promoting brands.
By engaging the marketers in a contest to take daily actions and rewarding them not only with commissions, the ‘daily habits’ and ‘predictive sharing’ tools have combined to create an experience that feels like a top marketer inside an app suggesting what your newest referral marketer does on a daily basis. It also promotes consistency in promoting brands and taking action on a daily basis.
NaXum Online Marketing, a 23-year-old referral marketing platform provider, is the #1 platform in the space for referral marketing companies launching predictive platforms with daily habits. Over 30 referral marketing companies have already deployed predictive actions as part of their referral marketing channel in as many as 20+ languages. Some companies have over a hundred thousand marketers using predictive content.
About Ben:
Ben Dixon loves referral marketing. His family found direct sales back in 2006 and had success using technology to create home-based businesses. Since 2010, Ben has focused on serving referral marketing, party plan, and direct sales companies across the globe with the technology they require to empower their passionate fans to grow their businesses virally.
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