Build & optimize your viral channel: referrals
You already have your most valuable marketing asset at your fingertips: your existing customers.
By Dominic Coryell, Co-Founder of Talkable
Course length: 3h 30min
Some of the companies that train their teams at CXL Institute:
Learn how to acquire more valuable users and reduce how much you spend to achieve your goals.
Acquiring new users through referrals is the most important marketing activity for your business. You not only acquire more valuable users, but also reduce how much you need to spend in order to acquire them.
What this course will teach you…
- A step-by-step implementation guide to turn your existing users into new users, indefinitely
- How companies like TOMS, Bonobos, Hotels.com, Shutterfly and more all leveraged their existing customers to grow their organic customer base using referrals
- “Sideways” strategies to get referrals that don’t involve you directly asking your users to “refer a friend” again and again.
This course is right for you if…
- You have existing users who like your product (measure with a high NPS)
- You currently have a referral program you don’t feel like you can manipulate.
- You don’t yet have a referral program, but have high “direct” traffic ration that must be cause by word-of-mouth-activities (WOMA).
- You were at one point excelling at referral marketing and have hit a plateau
This course is probably not for you if…
- You do not yet have Product/Market Fit (PMF)
- You have a low NPS
- You have an extremely long sales cycle with high enterprise value that has no mid/top funnel optimization points
You’ll walk away with
- A complete five-step formula squeeze every possible referral out of your existing CRM by optimizing each of the 4 referral levers:
- Formula to find the right incentive to get users to share
- Formula to find the most valuable sharing channel
- Formula to help advocates pick the right people to share with
- Formula to get referred users to convert
- Formula to help nurture referrals
- A model to map out the referral channel and make predictions like other channels
- A referral roadmap integrated into existing marketing campaigns to maximize touch points and keep your program top of mind
- A model to measure normally intangible brand mentions
This results in an evergreen channel to reduce CPA and increase CLTV of all your other channels.
Dominic Coryell, (aka DistroDom) is a tech entrepreneur in San Francisco. As a Co-Founder of Talkable, he understands referral intimately since he’s built programs for companies like TOMS, Bonobos, Hotels.com, Shutterfly and so many more. He’s spent years in the weeds optimizing referral programs to make sure that referrals as a channel are valuable and relevant.
Dom has also coached hundreds of startups during his time as a Partner on the 500 Startups Distro Team and educating founders on how to grow faster and secure funding with his online traction program GIMME GROWTH.