Introduction To Referral Marketing: Understanding The Basics
Referral marketing is a strategy where businesses encourage their satisfied customers to refer friends, family, or colleagues to their products or services. This method leverages the trust and personal relationships existing between the referrer and the potential new customer. By offering incentives, such as discounts or rewards, businesses can boost customer acquisition and loyalty. Referral marketing capitalizes on word-of-mouth promotion, making it a cost-effective and powerful tool for growth.
