Modern marketers have an abundance of tools and resources in their arsenal in order to reach customers, build brand awareness, and develop loyal brand enthusiasts. One tool that marketers have relied on from the beginning that still holds the most power in influencing consumers’ buying decisions is word of mouth.
Thanks to technology, especially social media, today’s customers are able to share their brand preferences in a very public way. Based on the success—and failure—many companies have experienced as a result of social referral marketing (SRM), this strategy is quickly becoming a central element of marketing campaigns.
In a recent Engage Today article, executive editor Meredith Bagnulo interviews Vijay Sundaram, CMO of SocialTwist, a customer acquisition and retention platform that generates viral referrals for businesses, using the social connections of customers. In the interview, Sundaram speaks about the evolution of social referral marketing and how it is impacting marketing campaigns, especially in the retail industry.
According to Sundaram, social referral marketing “is not about bringing coupons to individuals, it is about engagement and the core of that is the referral. If you are a Huggies customer, you are probably a young mother and know other young mothers. How does the brand take advantage of your connections?”
Click here to read the full Engage Today article with Sundaram’s insights on how SRM has evolved over the years, the role of analytics in SRM campaigns, and his advice for marketers who are new to social referral marketing.