Amazing article. I’ve been working on a referral marketing SaaS product for the past couple of months called www.actionwins.co It lets you add in-app referral marketing campaigns to web and mobile applications.
Many of my early customers have heard of Drop-Box’s famous refer-a-friend get 1 gb free growth strategy. What they don’t realize, is that the only reason this worked is because they first had a GREAT product.
Referral marketing is often looked at as this amazing “magical” growth “hack” but in reality it’s just like any other customer acquisition channel. First, you need an awesome product that your customers love and then you need to spend time testing and optimizing your referral system to get it right.
Finally, referral marketing is a way for your customers to advocate for your company. They’ll only begin to advocate for you once you’ve built a relationship with them!
Thanks again for the essay. It was a great read.