Go Back The Retention Playbook

Incentivize Customers to Refer Friends

If shoppers love your brand, they also want to share the love with their community of friends and family in the form of referrals.

referrals

Learn more about how Yotpo can help your brand drive stronger retention.

Loyalty members will do a lot for the brands they love. In fact, according to a recent Yotpo survey, 59% of shoppers said they would wait to purchase until their favorite brand’s products were back in stock, and over 58% said they would sign up for a brand’s emails.

Drive retention by rewarding loyalty members with perks for sharing referrals. For brands like Ministry of Supply, leveraging loyalty and referrals together has helped them skyrocket engagement and retention. In the first 6 months since combining loyalty and referrals, Ministry of Supply’s revenue from the referrals program doubled

With referrals integrated into their loyalty program, Ministry of Supply’s customers are excited not only to refer — they’re also actively engaging with the program to move into higher VIP tiers. Over half (52%) of referrals now come from Gold & Platinum VIP members who have spent over $300 — building brand equity and community through the brand’s high-performing, strategic VIP program. With engaging loyalty program perks, Ministry of Supply’s referral solution now gets 10x higher engagement, accelerating customer spending between tiers to drive ROI.

Conclusion

Retention is built on three essential pillars: loyalty, integrated multi-channel experiences, and community advocacy. And, while there are many strategies that a brand can use to drive successful retention, the most effective strategy is to leverage all of them at once.

Brands build stronger, longer lasting customer relationships when all of their marketing channels are working together. It’s the integrated, seamless experiences that make customers feel seen, recognized, and drawn to return to purchase again. 

Want to learn more about how Yotpo can enable your brand to build better customer relationships with Loyalty, Reviews, SMS Marketing, Referrals, Visual User-Generated Content, and more? Click here to speak to a specialist.

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