Table of Contents Hide
- What is Referral Marketing Software?
- Why should you use referral marketing software?
- 4 Best Referral Marketing Software in 2022
- Referral Marketing Frequently Asked Questions and Answers
- Is referral marketing still a good marketing strategy?
- What is an affiliate referrer link?
- Can Influencer Marketing be called Referral Marketing?
- What exactly does an affiliate marketer do?
- What exactly is eCommerce Referral Marketing?
- Can referral marketing boost conversion rate?
- What are the benefits of referrals in the field of sales?
- Wrapping up
Referral marketing helps acquire new customers and drive business growth in a cost-effective manner. There are more benefits to referral marketing. So, referral marketing is one of the business growth strategies employed by brands and businesses. Employing referral marketing software can simplify managing your referral programs.
This Referral marketing stats reveals that people referred by a friend are 4 times more likely to buy and referred customers have a 16% higher LTV than non-referred ones. Further, they have an 18% lower churn and contribute at least 16% more in profits. This blog lists the 4 best referral marketing software in 2022. But before that, let’s get to the basics.
What is Referral Marketing Software?
A referral marketing software is a software that can help automate functions such as referral registrations and referral rewards at scale, workflows across various platforms like Opencart, WooCommerce and Magento. It also has features to make your referral programs customer-friendly through personalized messaging, mobile-friendly experiences, and spreading your brand through various channels.
Apart from the basics, the advanced referral marketing tools can employ machine learning to monitor and analyze customer behavior, report behavioral insights, and recommend referral program types most suitable for a specific customer segment.
Why should you use referral marketing software?
So, with referral marketing software at hand, you need not wonder as to how to ask for referrals. If you aren’t yet assured of the benefits of using referral marketing software, read our valid reasons listed below-
- It facilitates scalability.
- It enables omnichannel execution.
- It facilitates rewarding referrals in phases just like that of the dropbox referral program.
- It detects and prevents referral fraud.
- It referral tracking and customer analysis.
4 Best Referral Marketing Software in 2022
A simple yet feature-rich referral marketing software is InviteReferrals. It is a reliable referral program tool for running the best referral programs on websites and mobile apps. Top names such as HDFC, FourSquare, Firefox, Titan, IndusInd Bank, Kotak Securities, AVIS, TATA Sky, and more use it for running their referral campaigns.
Here are InviteReferrals highlights-
- Templates: It has many attractive templates from which you can choose and customize. This saves you a lot of time and resources.
- Integrations: It integrates seamlessly with many third-party platforms and tools like Drupal, WooCommerce, WordPress, Magento, Opencart, PrestaShop, Shopify, 3dcart, cs.cart, Joomla, Google Tag Manager, Blogger, SEOShop, and more.
- Support: The tool comes with excellent support. Its customer support team consists of knowledgeable and helpful people.
- Multiple-event rewarding: It facilitates rewarding customers on different events like sharing, registering, sales, mobile app installs, and more. You can also choose between one-way (rewarding only the referrer) and two-way gratification (rewarding both the referrer and the referred).
- Safe payment: The tool paves the way for safe and secure referral fee payment checkouts. It gives you an asynchronous code, which eliminates all hindrances, to provide your customer a faster browsing experience.
- Fraud prevention and security: The tool has in-built fraud prevention mechanisms. It sets the conversions from a campaign for manual review and approval.
- Automation: You can automate your entire referral program. The software takes care of enrollment, email notifications, rewards, and more.
- Analytics: The tool has features for tracking the analytics of each of your referral campaigns. You can track the actions of referrers and referrals to modify and update strategies.
Girafi is a referral program solution for e-commerce. It allows e-stores to help their customers share their business through e-mail, SMS, Whatsapp, Messenger, Twitter, and Facebook or a unique link with a discount code. Thus it can help boost word of mouth promotion, increase sales, and lower decision time.
Other than social media sharing, it also has features for design customization, fraud protection, and push notification.
Girafi referral works in the following three ways-
- Double-sided referral: This involves providing your website visitors with a unique link that has a special discount. If he sends it to his friends and they make a purchase through that link, he too will receive a discount.
- Quick referral: This involves offering your customers promo codes in exchange for social media shares. When someone comes to your website through that share and provides his/her email id, the referrer is immediately rewarded.
- All at once: This involves offering a freebie like exclusive access, promo code, etc. to your customers in exchange for subscribing to your newsletter, watching promo videos, and/or referrals on social media.
Talkable is another referral marketing software designed especially for e-commerce. It too has a mobile version. You can run targeted referral and loyalty programs using it. It has a lot of features. Some of these include customer segmentation, fraud protection, reporting, and more.
- Quick integration with platforms such as Shopify, Klaviyo, Segment, Mailchimp, rybbon, WooCommerce, Opencart, IBM, and more.
- Allows continuous program optimization to minimize expenses and improve performance via A/B testing, statistical significance testing, and performance testing of hypothesis algorithms.
- Customize campaigns as per your requirements and aesthetic preferences to create a seamless customer experience. Additionally, you can also design campaigns to target the specific stage of the customer journey on-site.
- Allows advanced segmentation of audiences based on geographic location, attributes, and/or behavioral insights to deliver personalized campaigns.
- Provides meaningful analytics to help you comprehend what are the main benchmarks for success, which key metrics you should focus on, and more.
RocketReferrals is a referral marketing tool that incorporates processes including engagement management, Net Promoter Score measurement, and customer feedback management. It has features for automating communications, improving online reputation, tracking loyalty trends, getting expert guidance, collecting reviews on Facebook and Google, and measuring the performance of campaigns.
Here are more details of how this software for referral can help-
- Automate communications: It lets you create custom email campaigns and other communications, respond quickly to customers and prospects via webchat, send handwritten cards, and more.
- Improve your online reputation: The tool has features for gathering positive testimonials and reviews, publishing testimonials on the website, monitoring social media mentions, and more.
- Integrate with your existing systems: Integrates with other tools and platforms like Salesforce, Veruna, NowCerts, and more.
- Measure your performance: Its analytics tells you where you rank in your industry, your feedback trends, your progress, and more.
- Dedicated support: A dedicated team helps you understand how to use the software. And whenever you need technical support, you can talk to them.
Referral Marketing Frequently Asked Questions and Answers
Is referral marketing still a good marketing strategy?
Aside from increasing the number of customers you have; studies have also revealed that recommendations from word of mouth are more trusted than any other kind of advertising. A well-planned referral marketing strategy will strengthen your existing relationships with customers, generate new leads, and expand your business.
What is an affiliate referrer link?
A referral link or URL for affiliates refers to the URL affiliates use to promote products or a website. It is a link with the promoter’s unique identity affixed to it.
With the help of the unique ID, that a specific affiliate can be identified whenever a customer or visitor browses your site.
Can Influencer Marketing be called Referral Marketing?
Any method a business employs to motivate people to share information about their services and products can be considered referral marketing. Referral marketing is a broad term covering techniques like influencer marketing and affiliate marketing.
What exactly does an affiliate marketer do?
Affiliate marketing is an advertising method where a business pays or reward other individuals (e.g., bloggers and social media influencer) to promote their services and products and create sales. Affiliates post ads or advertise products or services through their websites, apps, social media profiles, or blog.
What exactly is eCommerce Referral Marketing?
In particular, an eCommerce refer-a-friend advertising program is the process of enticing existing customers to recommend new customers to your company. If the new customer purchases, you reward them with discounts, credits or small gifts, or any other reward they consider important.
Can referral marketing boost conversion rate?
If it leads prospective customers to landing page that explains what makes your brand attractive and distinctive, like the top-selling item or bundles to aid in connecting the dots between your reward’s worth and their buying intention, referral marketing can explode your conversion rate.
Refer visitors to a targeted web page to boost the conversion rate of referrals.
What are the benefits of referrals in the field of sales?
If your business is pitch by an existing client or any individual who is respected by the prospective buyer, the prospect will consider patronizing you with greater level of confidence. This can encourage them to make an order that is larger and results in more sales for your business.
Referral Marketing Software helps brands and businesses tap into the complete potential of referral marketing. For, with these you can customize your referral program, operate and manage it efficiently, prevent the misuse of it, and completely utilize customer data. We’ve listed and discussed four of the best referral marketing software in 2022. Choose your pick as per your requirements and preferences.