Referral Marketing is spreading the word about a product or service by that business' existing customers. Referral Marketing tactics can be both organic and paid. Popular Referral Marketing methods include Influencer Marketing, Affiliate Marketing and Customer Experience Marketing. Referral marketing is used to boost a business’ word-of-mouth.
Referral Marketing usually somewhat encourages and rewards customers to recommend products and services to potential customers both online and offline. The role of the referral marketer is to be deliberate and conscious of the referral process.
Referral Marketing is known to have many benefits for brands, including building trust, increasing the Customer Lifetime Value and generating valuable user content.