For $500 spent in cash rewards, they USA Phone Number List made $4,950 in new product referral sales. It’s a great strategy, that both Endy and Ergodriven’s customers love. Which also explains why they are beating the industry average referral USA Phone Number List rate of 2.35%: Screenshot showing referral program stats Key Takeaway: USA Phone Number List Here’s a general rule of thumb we recommend ecommerce stores follow. If you’re selling something people buy often, like razors or cosmetics, give away a discount coupon as an incentive.
If you’re selling something people USA Phone Number List buy infrequently, like a mattress, give away a cash incentive like Endy does! USA Phone Number List In his remarkable and often-recommended book Influence, Robert Cialdini talks USA Phone Number List about a persuasive force called “commitment and consistency.” A person who USA Phone Number List has committed their identity to something will tend to follow through with a respective action just to be consistent with that
But, how does that apply to USA Phone Number List referral marketing? When your customers have just finished purchasing from your store, they’ve committed to an identity of being YOUR customer. They have committed to an identity where USA Phone Number List they trust you, your brand, and your product. Which also means — to be USA Phone Number List consistent with this identity, they are VERY likely to do something you want them to do, like buy more (which is also why upsells work.) This is a good time to ask them to join your referral marketing program.