According to the New York Times, 65% of all new business comes from referrals. Referral marketing is spreading the word about a product or service through a business’ existing customers.
What is Newsletter Referral Marketing
Referral Marketing is also referred to as friend referral marketing or word of mouth. Which any marketer or business owner can tell you this type of marketing tends to drive the highest ROI and loyalty to the business.
Newsletter referral marketing is using your subscriber list to help increase your subscriber list, which can ultimately help grow your brand and achieve your business goals.
Your Blog and Newsletter
Marketing guru and podcaster Jenna Kutcher has said that “Companies with blogs produce an average of 67% more leads monthly than companies that don’t blog. And businesses that blog get 55% more website visitors than businesses that don’t.”
If you already have a blog, that’s great news. If you’re a startup or solopreneur with a community and are only doing emailing your newsletter or only blogging, you should consider doing both since it requires little additional effort to do the other.
A tip is to email your subscriber list right after you publish a new blog post to your site. Not only are your subscribers your superfans and should be first to know about the exciting stuff you are writing about. But posting your newsletter content to your site will also help you get SEO credit, provides readers value and builds credibility and authority within your space.
Growing My Newsletter Through Referral Marketing
A few of he best ways to increase your newsletter subscriber list is through social or freebee opt-ins, another way is to leverage your current subscriber list and reward them for referrals. After all, the best kind of referrals are friend/ word of mouth referrals.
- 65% of all new business comes from referrals
- Companies with blogs produce an average of 67% more leads monthly than companies that don’t blog
- If you are only blogging, or only sending newsletters, you should starting doing both
- To grow your newsletter subscriber list with the highest ROI and loyal subscribers, leverage a newsletter referral program for that word of mouth effect
- Firewards newsletter referral program can help you get up to 10% more subscribers in a single day