If we talk of defining B2B referral program it will go like: “B2B referral programs” are the one when your existing customer refer your company, to their friends and then ask the sales team to keep in touch with them.”
It is a proven fact that referral program cultivates strengths to the growth of the company. Referral programs are quite famous in B2C clan but are also growing quite popularity in B2B.
Referral Programs in B2B are different from the one from B2C. The referral programs in B2B require a lot of discussions and consulting while purchasing a product, unlike B2C.
The referral program is the key to generations of leads. Every business person who wants to grow their business in a fast and effective way; they should consider starting a referral program for their business.
The leads generated in a referral program are the most trusted and high-quality leads. But the way referral programs are more successful in B2C. As the rewards and the incentives given to the clients are more exciting, which keeps people coming back for more.
We want to make referral programs a big-screen star in the B2B too.
What makes B2B Referral Program a Success?
Let us now know what how you will create a B2B effective program that you can implement to your business.
As we all know that B2B referral program marketing is different from what B2C’s. Let us now understand in numbers that what all factors, affects the purchase of a product and lead a referral program to the growth of success.
Also, read: Referral Program for Small Scale Businesses, to get awesome new ideas for your referral program in your new business.
Reward them Right
Let us bring on a little differentiation on B2B and B2C rewards. The customers in B2C are more tend to attract to the deals, which include discounts, sales, and loyalty credits.
But where else such deals don’t attract to the B2B customers much.
They trust more on the cash amounts.
Word of Mouth Marketing is the King
If you are an entrepreneur, you should know your audience. Referral programs make it easy for business persons to recommend your products or services to other companies, and often get rewarded for making such recommendations. Referred leads are the most precious because they were recommended by their peers they trust. Thus they are easier to nurture.
A happy customer is a priority
A thing you should always remember is- if you don’t make your customers happy someone else will.
A customer plays a very crucial role in the growth of your business. From beginning to the end, try to make your customer’s journey easy.
A survey says B2B customers are not happy, with the advertisements which are frequently displayed on the web page. B2B rely on online or offline reviews. You need a marketing team and referral tools to get the referral program right and keep the B2B customers engaged.
Spread the Word
Let the world know about your referral program. Talk about as much as you can. Ask your sales team to talk about your referral program on every sales demo they give. Mention about your program to every client.
Create CTA (call to action) for better interactions. Create your referral programs for different platforms.
Write attractive taglines and descriptions. Also, you can try split testing your B2B referral program for better customer knowledge.
Let us now look at some amazing B2B referral program examples running in the market.
B2B Referral Program Templates
Kinsta’s referral program is a B2B referral program. Where Kinsta is offering $500 for every referral as B2B customers don’t get attracted to small discounts or deals, they instead love to get cash. Also, they are offering a 10% commission on every referral. Who would not like to join their referral program?”
Alibaba’s referral program is for the business people who want to get Alibaba’s gold membership. They are offering $100 credit on each referral. Alibaba’s gold group has its perks. Also, they are offering an exclusive link so that the referral can be personalized.
Amazon has a fantastic strategy for earning referrals. They are giving out Rs — 1000 gift card. For every person who will be referred will get a cashback from Amazon and Amazon is getting a customer for a lifetime as it is getting recommended by their advocates. Also, they are saying thank you to their advocates- ‘our best source of referral is you.’ never forget to thank your customers.
Google has its set of tools and applications separate for the professionals. Thus in this referral program, they are offering such tools for the office use, with the $20 cash prize on every new registration it gets. Every company needs email and calendars software, so what better than Google with a cash prize.”
Zoho mail is giving out 25 free users on every 5 referrals. It has used a very interactive design, and the picture enough is very descriptive. In the picture, you can easily see that they are giving out 5 users on every 5 referrals. Make your referral programs interactive.
Now, that you know the secret to get nurtured customers. Start a B2B referral program of your own. Also, not just focus on getting leads, think of users journey.
Hope this article was a help to you.