How to Convert Refer-A-Friend Referrals into Customers More Effectively Using Wealth Intelligence
You’ve got the social proof that referral marketing works. But how well is it working for you?
While an endorsement from a family member or friend holds stronger influence than most advertising and marketing channels, are you doing everything you can to optimize conversions after the initial referral takes place?
Immediate credit toward product and services can be enticing for some but if they’re still on the fence or not ready to buy, how are you engaging them in a way that will keep their attention and keep you top of mind?
Try segmenting based on wealth intelligence. If they’re not biting at your initial referral incentive, perhaps they haven’t found what they’re looking for.
Or, perhaps, your offer doesn’t align with their capacity to spend.
You could easily draw conclusions based on the buying behavior of the friend who referred them and personalize your messaging accordingly. But think about some of your friends. Do you spend money the same way they do? Probably not in every case, so it’s dangerous to assume the same about your customers.
When you integrate wealth intelligence into your overall B2C marketing strategy, you can tailor your content based on wealth and lifestyle factors and customize your calls to action and promotional offers based on wealth scores.
Do you use Salesforce or another CRM to manage your customers and prospects? We integrate easily. In fact, e-commerce companies can hook directly into our WealthEngine API to pass through wealth scores in real-time so you can take immediate action and capture the opportunity.
Friendships are based on trust and respect. A referral is a great first step.The best way to build trust and respect with those new to your company is by showing them you understand them through effective personalized marketing, not a one-size-fits all offer.
There’s a reason why we’re the “secret weapon” for some of the most coveted brands.
Ready for a short demo to show exactly how we can make this work for you? Share your details with us and we’ll be in touch soon.