Against this evolving backdrop, referral marketing offers valuable potential. Both now and in the post-Coronavirus world.

The concept of referral marketing is relatively simple. Have you ever sent a friend an offer for one of your favourite brands? Or been sent one yourself and bought something from a brand for the first time as a result? That’s referral marketing.

It has plenty of names – refer-a-friend, incentivised referral, member-get-member - the list goes on. But the concept is the same: incentivising your customer base to recommend your brand to their friends and convert them into customers.

We recommend brands to each other everyday, often without thinking about it. The arrival of a gift, conversation about eating at home, or question about money can all prompt brand recommendations: “Where did you find this!?”, “We use this brilliant food delivery service”, “I swear by this financial savings app”. Word-of-mouth recommendations may not be happening at the moment, but online referrals are rocketing as people prioritise reconnecting with loved ones from their homes.

For marketers, connecting with customers and prospects is hard. Advertising costs are rising, budgets are tightening, and consumers are bombarded with countless marketing messages every day. COVID-19 has added another, even more challenging layer to all this.

Many brands invest significant time and money into acquiring new customers, only to lose them after their first purchase. Against this challenging landscape, referral marketing presents a cost-effective solution that builds loyalty and delivers real value.

We’re striving for a world where brands connect with the right audiences, consumers choose brands with confidence, and loyalty is recognised. Referrals put trust back into the heart of marketing. Put your customers front and centre, and they’ll do your brand’s most effective marketing for you.