Forum Discussion
Referral Strategy
Hello Braze Community! I’m currently working on creating a referral strategy to drive new user acquisition through our most engaged users. I’d like to start a thread with all of you to gather inspir...
Definitely believe you are on the right path with focusing on key moments right after the user takes positive action—that's what I've found works best when I've implemented referral programs in the past.
That focus on keeping the momentum going, getting larger buy-in from the referrer due to that action, and then bringing in higher likelihood of an engaged user from that referral.
One thing to keep in mind though if you are offering any order of incentive, then you need to factor in the economics of it. BCG has a really great concept around this with Loyalty Margin (https://www.bcg.com/publications/2014/retail-transportation-travel-tourism-leveraging-loyalty-margin-rewards-programs-work).
Thanks for sharing that interesting article. Definitely it is important to take into account the factor about the incremental share and the loyalty margin to build a nice referral strategy.
I think is pretty important to show the user our benefits and the value. ¿What do you think?Exactly—important to use that referral opportunity to show the value to both the referrer and the referral.
Using the moment to reinforce the values to the person being asked to refer, and then showcasing the benefits/value to the person being sent the referral link.
When done right, it's not only a lever to use to acquire new users, but to help with retention of existing users also.
