What is referral marketing anyway?
Turning word of mouth into a game by setting targets for your referrers to reach and if those targets are reached rewards are given out.
Referrers will spread the word via several channels such as Facebook, Twitter, LinkedIn, Instagram, Whatsapp and Messenger. If a conversion happens a reward is given out.
Referral marketing unlike affiliate marketing, focuses on enpowering existing users to spread the word rather than a few businesses. Instead of paying out commission, referral marketing rewards referrers hence lowering cost of acquisition.