iMedia Connection: Best Practice: Viral Marketing
Joseph Jaffe outlines how ePrize are successfully using incentivised referral techniques within their business.
ìWe are seeing on average a referral rate of 3.5 referrals per user when tied to the chance to win. Of those, we're seeing about one-third of the referees come back to register. In other words, if you have one million original users, the word is then spread to 3.5 million more people. About one million will then come back to register, so you have effectively DOUBLED the registration rates.î
Incentivised referrals techniques can work, but in my opinion they are not the key to viral marketing. A while back a partner in crime of mine, Justin Kirby, did a good job of explaining why.
