One of the highest quality incentives promotions are referral opportunities. Loyal customers are 68% more likely to share your brand or business on social media if offered a reward for referrals. Referrals incentivize customer engagement with coupons, rebates, and even sweepstake entries in return for customers spreading the word about your brand or services.
Offer referral incentives to catch those quality customers who actually do talk about your company and reward them for spreading your business name. Referrals are one of the biggest strengths of developing a customer relationship. You spend tons of time and effort building customer relationships and developing loyal customers to return time and time again. Now you just need to develop advocacy. Advocacy is when the customer willingly spreads positive feedback about your product or service. Advocacy is worth its weight in gold. Customers referred by other customers have a 37% higher retention rate.