64% of marketers believe that word-of-mouth is still the most effective form of marketing. Nothing can beat a client’s trust in a friend rather than traditional media.
In this case, referral marketing comes from word-of-mouth marketing, which is probably the oldest form of advertising that exists. Referral marketing is a blend of organic content, community marketing, and influencer marketing. Word-of-mouth is a powerful channel for both successful global names as well as new, niche brands. Referral marketing blends perfectly with brands that have a clear customer-centric approach, making it affordable for companies of any size to attract new customers while retaining existing ones.
However, most organizations are not utilizing this form of marketing enough nor realize how powerful it can be. At the end of the day, whether you are a B2B organization or a B2C organization, we are all humans, and it all comes down to psychology and understanding what drives your customers.
So, in this episode, Raul Galera shares how you can build the best B2B referral program for your business and get more clients.