Read time: 5 mins
Looking for the highlights? Here are three things you need to know:
- Every part of the customer lifecycle is an opportunity to drive value
- Enhance helps you maximise brand advocacy and turn consumers into fans
- Brands showing Enhance get an average click-through rate of 50%
Today’s marketers are facing an uphill battle.
You’re trying to squeeze more value out of your (increasingly expensive) digital channels. Marketing budgets now account for a measly 6.4% of total company revenue. Third-party cookies are on their way out, and consumer distrust is here — and it’s getting worse.
This all begs the question: how do you increase revenue without increasing budget?
The answer is simple. By driving more value from your existing customers.
You need a better understanding of every shopper — no matter where they are in their lifecycle.
Harnessing the power of brand advocacy through a precision-engineered referral channel will give you rich insights on your customers. But you also need to think beyond those who are already eager to share your brand.
You’ve tried everything to engage those distant customers you can’t quite connect with. You’re wracking your brain, shouting just tell me what you want!
Wait. What if there was a way to cut the confusion, and find out exactly what appeals to those hard-to-reach shoppers?
At Mention Me, we’ve launched a set of features to help you understand and engage every single customer. It’s called Enhance, and it puts your customers in the driving seat.Electrical Direct gave shoppers a choice between claiming a discount or sharing a referral offer
Rather than serving a single offer to refer a friend, Enhance gives shoppers up to three options of actions or incentives.
This lets the customer pick which offer they find most appealing — and lets you get to know them that bit better.
You can show Enhance at several points in a customer’s journey, such as on a registration page or post-purchase page, to drive the next best action at every touchpoint.
Knowing the next best action at each point in the lifecycle may be the difference between a disengaged customer and a loyal brand advocate.
Segment your customers and track these results to discover which offers you should serve to who, or tweak the offers to drive the actions you want.
It takes just 7 days (depending on volume of orders) to learn your customers’ preferred offer. Within 30 days, you’ll know what’s driving more value and be able to build data-led segments accordingly.
Giving shoppers a choice also does wonders for increasing their engagement. Brands showing a regular referral offer typically achieve a click-through rate (CTR) of 21% — compared to a 50% CTR on Enhance.
Better still, customers picking referral as part of Enhance are six times more likely to share the offer than those shown referral by itself.
All that, and you don’t even need any advanced tech to set up.
What else can customers choose?
As well as referral, your customer’s choice of offer could include a discount on their next order, an invite to sign up to your newsletter, an NPS survey, or any other custom incentive in exchange for an action (such as a review).
Each of these options drives a different action, and teaches you something new about a segment of your customers.
Let’s look a bit closer.
Discount on Next Order
Schuh drives repeat purchases by offering a discount on a customer’s next order
In an ideal world, every one of your customers would be planning their next purchase (and raving about you to their friends) as soon as they hit checkout.
But in reality, some shoppers need a bit of a nudge before they’re ready for round two.
One way of tempting them to browse again is by offering a tasty discount on their next order — this can increase repeat purchases by up to 20%.
Discounts don’t only drive all-important repeat revenue. Serving these messages equips you to understand how certain customer segments engage with discounts versus other offers. So you can cut the guesswork, and start driving action.
Luxury beauty brand By Terry encourages newsletter sign-ups
A compelling newsletter with punchy copy and sleek design is a great tool for engaging your current and prospective customers.
If you’ve got regular residency in a shopper’s inbox, your brand will stay top of their mind. But getting there isn’t so straightforward.
You can cross the bridge to increased engagement and advocacy by asking customers to sign up to your newsletter.
With a well-crafted, enticing sign-up form, you’ll encourage more shoppers to take that next step to becoming brand advocates.
Travel gear brand Db grew its email database from 30,000 to 185,000 when it promoted newsletter sign-ups as part of its referral channel, driving loyalty from old and new shoppers.
Ted Baker gathers customer feedback through an NPS survey
You don’t need a telepathic connection with your customers to find out what they think of your brand. When you show them an NPS survey, shoppers can pinpoint precisely where their feelings sit.
Once you’ve got the scores, serve your customers different messages based on their sentiment.
Target those who rate you highly with a referral offer: promoters are twice as likely to share your brand than the regular shopper.
If you’ve got detractors, ask them for feedback so you can start turning their negative experience into a positive one. 30% of shoppers who leave NPS scores between 0 and 6 leave feedback, so you’ll quickly learn what’s working and what isn’t.
Best of all, NPS surveys have been proven to improve referral performance and drive repeat orders. Customers who see NPS surveys are more likely to return, and promoters are more likely to share referral offers after giving their score.
Ready to learn more about your customers?
If you’re eager to discover how else you can acquire and engage more customers through Referral Engineering®, get in touch. We’ve got even more innovative features on the way.
And if you’re already accelerating growth through your referral channel and want to set up Enhance, speak to your Client Success Manager.