The Trick to Boosting Customer Referrals
Episode Description
Marketing professor Zhenling Jiang discusses her research paper, “Referral Contagion: Downstream Benefits of Customer Referrals,” and shares a simple intervention that can help companies gain more customers through referrals.
#marketing #referralmarketing #wordofmouth ----- The Wharton School of the University of Pennsylvania is committed to sharing its intellectual capital through Knowledge at Wharton, the school’s online business analysis journal.
Launched in 1999, Knowledge at Wharton offers free access to:
- Articles, podcasts, and videos highlighting Wharton faculty research and analysis of current business trends - Interviews with book authors from Wharton School Press - In-depth series of curated content like Wharton Executive Education’s Nano Tools for Leaders - A searchable database of more than 10,000 articles covering all aspects of business - A weekly newsletter that delivers Knowledge at Wharton insights directly to your inbox
Visit the Knowledge at Wharton homepage: https://whr.tn/3qUpSBE Subscribe to the Knowledge at Wharton YouTube channel: https://whr.tn/3DEAgAU
Brief Summary
Dr. Zhenling Jiang discusses the impact of customer referrals on marketing and introduces a simple intervention to boost referrals.
Key points
- Referral Contagion Explained. Dr. Zhenling Jiang discusses the benefits of customer referrals and their social value.
- Simple Intervention for Companies. A reminder about being a referred customer can boost referrals by 20%.
Ask about Knowledge at Wharton
Episode highlights
- Referral Contagion ExplainedDr. Zhenling Jiang discusses the benefits of customer referrals and their social value.“Referred customers can bring in almost 57 percent more other referred customers.”4:35Sep 11, 2024
- Simple Intervention for CompaniesA reminder about being a referred customer can boost referrals by 20%.“This simple reminder leads to 20 percent higher referrals.”11:05Sep 11, 2024
