5 Referral Marketing Myths

Referral marketing will be the acquisition channel of the next decade. Marketers in companies with innovative business models and in established brands with large and loyal customer communities are mastering it fast, becoming the marketing leaders of their generation. But referral marketing is not universally understood. Misconceptions about how it works — and why — can inhibit marketers from adding it to the marketing mix.

In this paper, Extole looks at five common misconceptions about referral marketing including widely held beliefs concerning customer acquisition, reach, and retention rates.

Included in this white paper:

• Why referral marketing is a high-impact strategy for driving customer acquisition
• Reasons customers acquired through referral marketing are loyal
• Why referral marketing is a cost-effective alternative strategy