Paid advertising, pagerank, and peer referrals arguably have the largest impact on site and in store traffic. However, unlike other methods, traffic from peer referrals come with three attributes that make them more valuable than the rest. These act as an online word of mouth phenomenon, quickly driving high quality traffic on site.
1. Higher Conversion Rates
Most shoppers have faith that Google will help them find what they are looking for, however friends or any real person with shared interests are always better than a ubiquitous digital guide. New shoppers referred from friends either directly, from a tool like Refer a Friend, or from a general social network post, like Share and Win, exceed baseline conversion rates by 2 to 7 times!
Peer to peer referrals help businesses grow from their core out. Those who share and refer are more likely to be satisfied customers or new site visitors who have felt an instant connection to your brand. These site visitors are not only more likely to convert, they are more likely to come back again and are more likely to share with even more like-minded people.
Increasingly fickle online shoppers show little hesitation to drop an online store they habitually buy from for somewhere new. Building a sense of community in a digital venue is challenging, but when new shoppers have existing relationships with your current customers you can project a sense of community right off the bat. Displaying live visual feeds that pull photos from Instagram and display products that visitors’ friends and people with similar interests have purchased or reviewed is a great way to make sure customers convert and more importantly, inspire loyalty.