With the flourishing E-Commerce market in India, b2b portals with a long list of suppliers and buyers look for partnerships and collaborations to cater for the demands and supplies and get recognized in the process. Penetration of the internet at cheap and affordable costs have escalated the use of smartphones. The growth rate (CAGR) of the global eCommerce market is estimated to be 14.7% by the year 2027. Partner referral program by Supplier4Buyer has to offer variety of benefits to uplift your business and outcomes.
However, apart from the massive impact on growth in business, these collaborations and joint ventures also help in generating valuable leads, further assisting with Referral Programs.
What is a Referral Program?
A referral program is a marketing strategy that majorly means spreading the word about your organization in your network to facilitate the employment and growth of the company. Let us see how it is beneficial for a business.
Types of Referral Program
Have you ever been asked this question from an employee or sometimes from a salesperson – “From where did you hear about us”? Why do you think it is important? This makes the company comprehend their branding strategy. Here are 3 different types of referral programs:
- Direct Referral
This is also called Word Of Mouth Referral or Experience-based Referral. It is like communicating about the services and the experience that you personally to the potential customers and people in your society, community or network.
- Reputation-Based Referral
Say you have a team meeting at the office and everyone decides to move out for lunch. As a manager or team leader, would you take them to a reputed restaurant or go to a place that doesn’t have a brand value? Most of us will choose the first option. Why? Because you know their services and are sure that others will also find them amazing.
So, if you want to become a well-known brand, you’ll need to spend a significant amount of money and time on effective marketing and brand strategy.
- Online Reviews
Why do our eyes search desperately for reviews while purchasing or applying for a job? Because a major part of these reviews are genuine and trustworthy and hence they act as a referral for the organization. Online marketing involving social media marketing, affiliate marketing or influencer marketing is another way to procure leads. So, never upset a customer or an employee and if you happen to not meet their demands or expectations, then try to compensate monetarily or by your kind words.
Supplier4Buyer Partner Referral Program
Supplier4Buyer believes in simultaneous development, which is why they created the Supplier4Buyer Partner Referral Program. Small and medium-sized companies have created business leads as a result of their experience with b2b sites in India and verified Indian suppliers. They invite you to acquire additional benefits by recommending them to a small or developing business firm. You’re just a few phone calls away from making a huge profit.
- With a 0% investment, a simple move will help you raise more than your monthly income.
- Contact someone in your network who may be interested in our services and make a pitch to them.
- You just need five minutes to refer Supplier4Buyer to your network, not even an additional hour.
- Earn up to 25% on each closure.
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