Why B2B businesses should incorporate B2C referral strategies
It has been widely recognized that referral software is highly beneficial for stimulating strong revenue growth. But a successful referral program doesn’t just happen. It needs to have a dynamic promotional strategy.
Most of us will remember hearing versions of George Berkeley’s philosophical question even if we didn’t know it was him who originally conceived the notion: If a tree falls in a forest and no one is there to hear it, does it make a sound? In 1710, the original question appeared in his work, A Treatise Concerning the Principles of Human Knowledge, and unintentionally and unexpectedly it applies to referral strategies today.
Berkeley’s conclusion was that, “The object of sense exist only when they are perceived; the tree therefore are in the garden . . . no longer than while there is somebody by to perceive them.”
In context, even if you have the best referral program, without the right promotional strategy that allows constant and increased perception it essentially doesn’t exist. After all, if advocates don’t know about your program there will be little to no participation, and soon enough your program really will cease to exist.
But understandably, it may be difficult for B2B business to kick off the right promotional strategy for their referral program. This is based off the idea that multi-channel advertisements and promotional strategies that drive immediate action are not as much a natural part of many B2B’s overall business model. The majority of always on advertisements, special offers, and promotions having largely been a B2C game because of their shorter or immediate sales cycle.
So instead of thinking along the lines of regular B2B promotions for your referral program, try taking a page from a B2C business. DIRECTV is one such business that has rocked the promotion of their referral program which has resulted in the utmost success.
DIRECTV’s referral strategies
DIRECTV has created an extremely successful promotional campaign for their referral program. This success stems from the fact that their referral program promotion campaign came as a natural extension of their current promotional strategies. DIRECTV employed an entertaining and engaging promotional strategy that aligns with standard practices for a B2C. But that doesn’t exclude it from being extraordinarily beneficial for B2B referral promotions.
Through the use of multiple channels and an always on approach, DIRECTV created awareness of their referral program with the majority of their customers knowing the benefits of referring their friends and how to do so. By taking a similar approach to referral promotions a B2B referral program can garner the same kind of success that DIRECTV has been able to accomplish.
The channels DIRECTV uses to build awareness are:
Video – DIRECTV created a variety of short commercials that were built around humor and entertainment but communicated how to refer your friends and the benefits clearly. These commercials engaged customers and their entertainment value improved how viral their videos became. For B2B businesses these videos can be posted on social media, the homepage, the account page, and on any online communities.
Special Offers – DIRECTV continues to create renewed special offers that reengage their customer base and continue to motivate referrals from their advocates. For a B2B, these special offers can be sent in the mail, by email, posted on social media, or posted on an online community. This will not only drive continued engagement by advocates, but help recruit new advocates by offering an incentive that is too good to pass up.
Website and Account Promotion – Together with DIRECTV’s other offers, homepage and account referral promotions help to increases their referral program awareness. This strategy can be applied to B2B business to ensure that each interaction with your brand encourages engagement in the referral program.
Regular Email and Mailings – Along with regular emails updates and bills, DIRECTV included their referral offer at the bottom. This proved advantageous by reminding customers of a way to reduce their bills when they receive it. For B2B businesses, email is already a part of the promotional strategy. Try to include referral promotions in the footer of regular subscription emails along with creating dedicated promotional referral emails. The one downfall B2B businesses face is relying too heavily on email and not taking a multi-channel approach.
Learn more about what it takes to develop a winning B2B referral promotional strategy by downloading the free e-book, 8 steps to Initiating the Right Launch Sequence for your Referral Program.