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Driving an extra 7% new customers with Mention Me
19 Jul 2018 Dominic Comments Off on Driving an extra 7% new customers with Mention Me
If you are looking to get more referrals from your existing customer base then one company I can recommend is Mention Me. I have worked with them a few times over the last few years and they focus on just that – implementing a solution in their backend which can be added to your site by means of an iframe.
Why focus on existing customers?
Mention Me focus on rewarding your existing customer base for referring new customers to you. Your existing customer base are the ones most likely to recommend your services to their friends – particularly if you are a brand with great affinity with the customer base.
By implementing some simple code on your site, Mention Me will mock up a landing page (in this case for Swoon Editions), which replicates your own brand look and feel. By directing your existing customer traffic to this page (emailing your existing customer base), they can recommend friends who may be interested in your products.
Why would people introduce your company?
Mention Me conducted some reasearch on exactly what motivates the consumer? What values and qualities make a brand referrable?Which factors are likely to make the programme a success?
According to the research, 76% of those questioned state that a brand being credible or trustworthy is the most important attribute for them in driving referral. Good product quality and customer service are also table-stakes for getting a referral to happen.
As you can see from this table, trustworthiness is the number 1 factor in making a brand referrable:
How does Mention Me work?
After leaving their details, Mention Me will collect the data and store it – these prospective customers are then contacted to say that they have been recommended by X and would you be interested in your company? You can offer and introductory discount off their first order to entice customers – if they then convert to a sale as a new customer then the original referral could also get an offer off their next order.
Whilst your dev team may want to try and build this themselves, my preferred approach is to work with specific partners who specialise in their own areas.
Impact of Mention Me in first year
With one of my clients, Mention Me actually drive an extra 7% new customers through their referrals over a period of 12 months. This equated to 900 new customers which generated an additional £220k for the business – this channel costed in at approx £5 Cost per Acquisition … with 40% of those customers then going on to place a second order. Not only was the Lifetime Value good but the cost per acquisition was the best recruitment channel in the business.
For further details have a look at the Mention Me Swoon editions case study here.
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