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Hi there, Based on your post, I reckon your overarching goal is to acquire more customers and the tactic you're focused on is a referral program. But perhaps
by tixocloud 8y ago
Hi there,
Based on your post, I reckon your overarching goal is to acquire more customers and the tactic you're focused on is a referral program.
But perhaps it might be good to take a step back. Firstly, do you know what the value of your customers are at the moment and how much will you be willing to spend per customer?
Referral programs could be a good strategy provided you feel that your customer also has a potential network to reach out to and you have enough to incentivize them, which leads back to how much you're willing to spend per customer.
That being said, have you tested the coffee idea out with your existing customers? More importantly, have you had a chat with your existing customers to understand what would get them to refer you to their networks?
The way I'd approach it is to talk to your customers and test out your strategies (i.e. coffee or otherwise).
Happy to discuss further as I've been involved with designing loyalty/rewards/switching programs.