Genius Referrals
 

Knowing Genius Referrals: Varied And Affordable Offers For All Types Of Companies

Do you want to start a business, but are you afraid of the enormous expenses that a marketing strategy entails?

We have the solution.

Referral Marketing is one of the most popular current trends, due to its accessibility for all types of companies and businesses, but above all, for those that start the commercial path.

A referral program guarantees both a quick expansion of the customer base and an increase in sales. It is a way to gain visibility and increase the customer portfolio with profitability.

But what is Referral Marketing?

Referral Marketing is a type of marketing strategy that promotes “word of mouth” recommendations.

With these programs, the business or brand offers a reward to customers for promoting the company's products and services to their contacts and those of other prospects, so that they become customers.

The reward or remuneration is delivered once the referral becomes a customer. There are several payment methods, including discounts, coupons, and promotions for the person you refer and even for the referred.

What do the statistics say?

  • According to a survey conducted by the TINK.BZ site, 92 percent of respondents trust referrals from people they know.

  • When people are recommended by friends, the chances that they will buy a product increase by 4 times.

  • On this subject, about 77 percent of consumers show a better willingness to buy a new product when they receive information about it from friends or family, say close contacts.

  • And above all, more than 80 percent of consumers indicate that they partially or completely trust the recommendations of their family, colleagues, or friends.

  • Word of mouth has also been shown to improve marketing strategy effectiveness by 54 percent.

  • Similarly, 79 percent of people say that the main reason they like a certain brand is that they want discounts.

We can conclude that:

According to the TINK.BZ survey, Referral Marketing generates conversion rates that are 3-5 percent higher than any other strategy.

The lifetime value of a new referred customer is 16 percent higher than the average customer. Additionally, referrals bring in a 25 percent higher profit margin and have a 37 percent higher retention rate.
Why is Referral Marketing important?
As we can see, Referral Marketing is an excellent growth strategy, especially for small businesses. In this way, the resources available (customers, friends, partners) are used to promote products and services and increase the customer base, and the risks of expenses exceeding the investment are reduced.

Only in this way can the satisfied customer become a brand ambassador, a spokesperson who recommends the company and shares the benefits of the product.

Brand prescribers in a Referral program can be bloggers, social media influencers, etc. unrelated to the referral, but all participate in the same "win-win" relationship.

Let's see other benefits of Referral Marketing:

  • A program that generates higher income and quick sales. As we explained, the value of a referred client is 16% higher than that of a non-referred client, and therefore, it is more profitable in terms of income for the company.

  • Empowered customers who contribute to the company. The company provides promoters with tools that empower them to participate in decisions and contribute to the company.

  • A variable reward system that does not affect the budget invested. Companies that use Referral Marketing can select affordable methods to reward their promoters, be it with their products, discounts, and other methods that do not generate high expenses.

  • Loyalty strategy. Through rewards and thanks, Referral Marketing is also an audience loyalty strategy, which allows the company to keep customers and differentiate itself from the competition.
Knowing Genius Referrals, offers for all types of companies
We make it easier and faster than ever to grow your business through referrals.

This is how the Genius Referrals offer begins.

We provide an automated referral system that offers rewards and high earnings to its participants in a short period.

Empowering customers and from this, boosting sales more and more, are the objectives of Genius Referral's actions.

Our promoters have at their fingertips through our Advocate Portal template, all the metrics to manage a successful referral program. In addition, they can choose the type of rewards they prefer.
A Referral Program of your choice
We offer our customers the ability to customize the look and feel of their referral program using one of our attractive templates.

Genius templates are fully responsive and customizable and can be used to create multiple referral programs for customers, partners, employees, and more.

Built on cutting-edge marketing trends and proven top-of-the-line technologies, these templates will work on any device.

These are our offers:

Advocate Portal: Can be used to provide a complete referral program for your advocates, with pages to manage everything they need, including Overview, Access, Actions, Insights, and Payments.

Advocate Portal Post Purchase: Can be used on your thank you page so your advocates can share their experiences after they've completed a purchase.

Link Sharing: Makes your social media icons available to your promoters. Icons can be placed anywhere on your website.

Referral Capture: Customize your referral capture template to maximize new referrals. It essentially functions as a lead landing page, with your references as leads, footers, side menus, etc.
POSTED ON MAY 10, 2022
BY: ELIZABETH ALMEIDA