As a full-service marketing agency dedicated to helping associations boost brand awareness, attendance, and profits, CSG understands the challenges you face in attracting new members and attendees to your annual events.
A key principle of success is transforming your members and customers into advocates for your association. Implementing a member referral program can play a pivotal role in reaching new prospects and expanding your community. In this article, we will explore the top 5 opportunities to leverage referral marketing to revolutionize your association’s growth strategy.
1. Harness the Power of Word-of-Mouth
Word-of-mouth has always been a powerful tool for generating brand awareness and acquiring new members and attendees. Referral marketing takes this concept to the next level by incentivizing your existing members, partners, and supporters to refer others to engage with your association. By leveraging their positive experiences and personal networks, you can tap into potential new members and attendees who are more likely to trust recommendations from people they know.
2. Increase Engagement and Foster Loyalty
Referral marketing programs allow you to develop a database of brand ambassadors within your association. By understanding their behaviors and preferences, you can create targeted membership and attendee acquisition marketing campaigns, offer special promotions, and reward ambassadors for their participation. This personalized approach not only increases engagement but also fosters loyalty among your existing members, creating a strong bond between them and your association.
3. Gain Loyal Members at a Lower Cost
Acquiring new members takes time and financial investment. However, studies have shown that referred members tend to be more loyal. According to a 2022 Nielsen report titled “The State of Play: Word-of-Mouth Marketing 2022,” recommendations from friends are trusted by 84% of consumers globally, leading to a 25% higher conversion rate compared to other marketing channels. This suggests that members acquired through referrals are not only more likely to join initially but also convert into loyal, long-term members. Furthermore, a 2021 Sprout Social report found that 76% of consumers are more likely to trust brands recommended by their social media connections. This highlights the power of word-of-mouth marketing in building brand advocates who not only have a longer lifetime value but also influence others to become members and event participants. By implementing a referral program, you can tap into this loyalty factor and attract members who are more likely to engage with your association in the long run. This not only reduces your member and attendee acquisition costs but also enhances the lifetime value of your customers.
4. Amplify Brand Awareness
Building brand awareness is crucial for associations, and referral marketing can be a game-changer in this aspect. By encouraging your members to spread the word about your association, you can exponentially increase your reach and visibility. The more your referrers talk about your association and its events, the more likely it is to turn into brand preference among their networks.
5. Leverage Technology for Seamless Implementation
Heidi Aulakh, Senior Director, Client Service at CSG, says implementing a referral marketing program may seem intimidating, but with the right technology, it becomes a seamless process. “We’ve effectively utilized Feathr referral marketing software for our clients, including a successful exhibitor invite program for the International Franchise Association (IFA).” Additionally, CSG leveraged Snöball for IAAPA Expo, the global attractions industry’s premier event, to harness the power of personal referrals and endorsements. IAAPA’s attendee acquisition campaign activated both speakers and registered attendees, driving 8,081 engagements (shares) and 409 direct registrations. This success was driven by three key factors: a $10 discount offer for new registrations, incentives for top referrers (with $100 Amazon gift cards for the top 10 referring speakers or attendees), and enhanced graphic design elements ensuring brand recognition across all platforms.
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Referral marketing holds immense potential for associations looking to grow their membership and event attendance. By harnessing the power of word-of-mouth, fostering loyalty, and leveraging technology, you can unlock new avenues of growth for your association. As a marketing agency, we are here to guide you through the implementation process and help you maximize the benefits of referral marketing.