Can’t Miss Strategy for Growing Your Business with Digital Relationship Building
Facebook digitized our real-world friendships. LinkedIn digitized our professional networking and career-building. Now RelyCircle is helping to further digitize the way customers make timely, relevant recommendations to their friends and family based on personal experiences with businesses.
Referral Marketing is the Next Digital Marketing Evolution.
Many industries operate with the understanding that the people or organizations that generate referrals will be compensated if the referral leads to a sale.
Let’s look at law firms for an example of this: The attorney that generates a new client for their firm is usually rewarded, even if another lawyer does the new client’s legal work. But this is just one example.
Another example is the pay-per-sale or lead type of influencer marketing. It’s become popular because it allows small businesses to have bloggers and social media influencers monetize their audiences. Companies love it because they can pay only for sales, instead of throwing money at advertising campaigns with mixed results.
RelyCircle: A Platform for Monetizing Referrals Across Industries
RelyCircle is trying to take all of this a step further by allowing small businesses to incentivize virtually anyone to recommend their product or service to someone else – going beyond a tweet or online review. All of their customers can then earn a cash reward if their recommendation results in a purchase. It might sound like influencer marketing, and it kind of is, but there’s more to the story.
Influencer Marketing 2.0?
Any small business that has tried their hand at pay per sale or pay per lead marketing will tell you that there are a lot of hoops to jump through.
First, you have to find the right influencers willing to send you traffic and/or sales. Then you have to find a way to get their audience to click on your link and make a purchase. If you are successful, you’ll end up with a sale. If not, well, you just wasted a bunch of time and resources chasing your tail.
RelyCircle is a Community that Better Reflects Real-World Interactions
RelyCircle is a social community where past customers can recommend a company’s product (online or offline) to their friends. If their recommendation generates a sale, RelyCircle sends them a cash reward on behalf of the small business.
You are literally monetizing something your customers are already doing in their social circles. The term industry insiders are using to describe this phenomenon is “social selling”.
Marketing Tools with Zero Up-Front Fees
If you look at what this means for businesses, especially smaller businesses (home improvement contractors, mechanics, trainers, etc.), it’s a game-changer.
When a company signs up for RelyCircle, they gain immediate access to email marketing and text marketing tools they can use to encourage satisfied customers to recommend their business to friends.
I recently received one of these texts after getting my car serviced. The service rep texted me with a follow-up asking if I was satisfied, and then immediately provided me with a link to recommend their services to a friend. It was very simple and convenient. Because I appreciated how quickly they took care of my vehicle, I was happy to tell a friend about the experience I had, primarily because he and I had discussed car maintenance earlier in the week.
For businesses operating in the digital age, getting satisfied customers to make recommendations is crucial for growth. So, right away there’s a benefit for businesses.
Things really get cooking when those customers realize they can also earn a cash reward for referring their friends and family, without feeling like they’re spamming their contact list.
If you’re looking to grow your business, I recommend checking out RelyCircle’s mobile platform for small businesses. No, I won’t receive a commission, but I do think it’s helpful to point out emerging trends in our industry – especially when they remove barriers to entry and help small businesses grow.
The post Can’t Miss Strategy for Growing Your Business with Digital Relationship Building appeared first on Social Media Explorer.
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December 23, 2019 at 01:40PM