There’s a new player in town, and that player is determined to help you grow your business by increasing the way that you digitize recommendations from customers, and how they extend those recommendations to everyone in their immediate circle. A new mobile platform called RelyCircle is extending steps which were first taken by Facebook, who digitized real-world friendships, and LinkedIn, who digitized career-building and networking among professionals.
Advanced referral marketing
RelyCircle is counting on referral marketing to become the next logical step in digital marketing evolution, and it is poised to facilitate that development with its platform. Up to the present moment, a great number of industries have operated on the basis of compensating people or organizations which generate referrals that ultimately lead to sales.
There are some real-life examples of this, such as law firms where an attorney secures a new client for his/her company, and is rewarded for it, even though the client’s work may actually go to another partner. It’s easy to see other examples in influencer marketing, where small businesses employ bloggers and social media influencers so as to urge their followers to make purchases.
This is a boon to companies, because it allows them to avoid wasting money on costly advertising campaigns, which might have mixed results in the end. RelyCircle has come into existence for the purpose of providing a platform for monetizing referrals across a wide range of industries. It will allow small businesses to provide incentives for almost anyone to recommend products and services to a third party, thus going far beyond an online review or possibly a tweet.
Benefits for everyone involved
One of the big appeals of this model is that everyone involved in the process benefits in a potentially significant way. Small businesses benefit by having potentially huge increases in sales, at least once their satisfied customers start making recommendations. Customers of course, can benefit by making those recommendations to their friends and acquaintances because of the cash rewards which are delivered to them. Even better, many customers will be motivated to make these recommendations to as many people as possible so as to maximize their cash rewards, and that becomes an even bigger benefit to the small business.
In this manner, all customers would be able to earn a cash reward if it turns out that their recommendation eventually results in a purchase. This may sound a little bit like influencer marketing, and up to a point it really is, but there are some significant differences between this model and the ordinary social media influencing model. Many small businesses have learned to their dismay that there are tons of details associated with pay-per-sale or pay-per-lead marketing, and many of those details tend to diminish the effectiveness and appeal of the whole process.
For instance, it’s necessary to find just the right influencers who can send you sales and direct traffic to your company. Then it becomes necessary to have the influencer audience click on your link so as to buy something. While this does sometimes result in a sale, it happens just as often that you’re left with nothing but some wasted time and resources.
What RelyCircle is attempting to do is to provide a community which is a much truer reflection of the interactions that take place in the real world. These interactions include situations such as those times when you’ve tried out a certain product and loved it, and then mentioned it to a friend casually during ordinary discussion. Another good example is when someone asks you a question regarding some issue they have, and you recommend a service or product you have already successfully used yourself, and which you believe will help them.
In the RelyCircle community, past customers have the ability to recommend some company’s product or service to friends of theirs, and if that recommendation produces a sale, RelyCircle will send them a cash reward for their trouble, on behalf of whatever small business has benefited by the recommendation. In effect, this monetizes a process which customers are already involved with in their immediate circles. This practice has already acquired a name which identifies the procedure, and it has been dubbed ‘social selling’.
Marketing tools with no fees upfront
This has the potential to be a major game-changer for a number of small businesses, especially those which involve professionals such as mechanics, trainers, home improvement contractors, and almost any type of professional who would benefit by having positive recommendations about their business service.
Any company that works with RelyCircle will have immediate access to marketing tools such as email marketing and text marketing, which can be used to persuade satisfied customers to make a recommendation on their behalf, to friends in their social circle. So for instance, if you had work done on your car at a certain repair service station, and you received good service which you are very satisfied with, you might be inclined to recommend that station to some of your friends.
If that repair service station happened to be a RelyCircle subscriber, they might send you an email asking about your experience with the company, and whether you’d be willing to recommend those same services to any of your friends. This is a great example of how businesses operating in today’s digital age can get customers who are satisfied to make recommendations for them, which cumulatively will lead to business growth.
When customers become aware of the possibility of earning cash for their recommendations, the good news can spread fast, and you could have a whole team of people operating as salesmen in the field for you. RelyCircle seems to have hit on a tremendous new opportunity for small businesses to realize solid growth simply by monetizing a process which is already taking place among their customers anyway. This looks to be a trend in business which has a very real possibility of becoming the next great evolutionary step in our digital age.