Ever heard of Dropbox? Of course you have; they now have a valuation of more than $10 Billion and generate revenue of over $4 Billion! How did they manage to achieve a meteoric growth of 3900% in the number of registered users within just 15 months? The answer is – Referrals! They are not alone. Take Uber, Airbnb or PayPal … Read More
“Referrals was an exciting project to undertake because it embodies growth: it’s highly measurable, scalable, and is all about identifying a growth pattern that’s already happening but amplifying it at a key moment.” – Jason Bosinoff, Director of Engineering at Airbnb. (source) Nobody can argue with that, considering how Airbnb hit the sweet spot of viral growth with referral marketing. … Read More
Word-of-mouth. Probably the only true form of organic marketing that has been there since the dawn of time, and is still going strong. No matter how earth-shattering your new growth marketing strategy is, at the end of the day, consumers crave validation from their peers before making a purchase decision. They wouldn’t trust the glossy marketing promos and retargeting attempts, … Read More
Even though marketers spend thousands of dollars to attract a user’s attention, our users still consider recommendations from their friends and peers as a top tactic before they sign up for our SaaS product. One of the most significant reasons behind this mindset is the trust that users associate with ‘referrals’ thereby making this marketing channel a high-value currency. It … Read More
Sourcing leads at any SaaS company is pretty damn crazy. The product sales cycles are relatively long, user churn rate is extremely high and to add to the misery, there’s always a dearth of marketing qualified leads often resulting in dried up sales pipelines. Quite clearly a SaaS Marketer doesn’t have it easy! But again, should getting qualified leads be … Read More
An eternal dilemma that surrounds Marketers and Project Managers in the tech world is when they have to decide between building an in-house product or outsourcing one. Such decisions often become the bottleneck in sales cycle since most companies take way long to come to a consensus. As a SaaS product that facilitates referral marketing for both mobile and web, … Read More
Ever thought why your referral marketing program isn’t attracting as much steam as Dropbox or Airbnb’s cult campaigns? The answer may lie in reinventing the way we approach referral promotions. In the ‘good old days of internet,’ every new ‘hack’ got noticed, there were fewer competitors, and early adopters got infinite edge. Brands like Dropbox and Airbnb are fine examples … Read More
The biggest learning for a B2C Marketer is their ability to identify and measure the right metrics for a campaign. Unfortunately, most from the community waste valuable productive hours and marketing dollars chasing vanity metrics as opposed to the actionable ones. Each Marketing campaign is unique and has several associated metrics that guide a Marketer of its success or failure. … Read More
Referral marketing and growth go hand in hand, and over the years we’ve seen everyone from SaaS businesses to, mobile apps using it to get a sweet spot with their users. Unfortunately, even the most powerful (and we mean it) marketing tactics such as referrals, need to take a back seat sometimes. And with that, we mean either a … Read More
In my opinion, Referral Marketing mimics a Bob Marley song. Just like his work, this Marketing tactic has been enjoyed from one generation to another, packaged and repackaged with changing times- altered and even re-mixed to build reach and to suit platforms. Even with constant changes, there’s more that Marketers need to plow in to reap the real value of … Read More
