Today, people trust recommendations more than traditional ads In fact, The Customer referral marketing in Singapore: A consumer perspective report reveals that 83% of consumers find recommendations and reviews important in consumer’s purchase decisions, while only 4% of consumers see ads as the most trusted source of information when making a purchase.
However, if you want to start a new referral program or optimize an existing one you’re likely to run into a few obstacles, such as deciding on program design and what rewards to offer,
This report provides crucial consumer knowledge to sail through these hurdles, helping you create an effective referral program that aligns with your business goals. Discover the key aspects customers want in referral programs, including lucrative rewards, easy-use-to-use programs interfaces, and comprehensive program education.
Key findings from this report:
- 83% of consumers indicated recommendations and referrals are important in their buying decisions.
- Over 4 in 5 consumers learn about new brands during conversations.
- 55% of consumers participate in referral programs, while 45% of consumers don’t participate
- Higher reward values, easy-to-use programs ,and program education would encourage more consumer participation in referral programs
