A strong brand backed with an effective advertising campaign can have a solid impact on attracting new clients and customers. However, some of the strongest members of your marketing team are you current customers.
“The marketers who responded overwhelmingly agreed on the best marketing channel and the best method for attracting new members: word of mouth referrals, otherwise known as referral marketing.”
(Source: RewardStream)
Social media gives word of mouth momentum
Kimberly A. Whitler notes in an article on Forbes.com, that social media is not only an offshoot of word of mouth, but it is the future of it.
“The problem is that for the last few years, marketers have been focused on “collecting” instead of “connecting.” In other words, brands are too caught up in collecting social media fans and they are forgetting to actually connect with them.”
Whitler suggests fueling conversations and then driving passion of current customers for your brand. Incentives to spread the word make a difference, but they have to be in conjunction with a connection that makes customers feel heard and appreciated. Great customer service, great products, and a bit of brand personality go a long way.
Everyone wins when word of mouth works
RewardStream notes that credit unions implementing a referral program reap more benefits than just increased customer acquisition. When staff is involved in the referral program, brand image is unified and consistent. And members who utilize the referral program and are encouraged to share their experiences with their credit union feel like a member of a community, increasing their loyalty.
We love helping our clients give their customers something wonderful to talk about, especially when it’s something wonderful about your brand!
Check out our radio ad for our award-winning referral campaign for Altura Credit Union.