Referral marketing taps into the reach of your customers, partners, employees to incentivize them to advocate for your brand by referring their friends, family and professional network. By offering attractive rewards and a variety of automated and scalable referral sharing methods, you open the doors up to new potential customers by extending the trust that current customers, partners and employees have for your brand to include their personal and professional network. We sat down with a group of companies who utilize referrals to see what works for them.
When asked how they work with Tango Card, 37% of companies said they bulk order through Blast Rewards, 37% order through Rewards Genius, 32% are integrated in with our RaaS API, 26% have a platform that is integrated with Tango Card, and 5% order a file of reward codes.
When asked what kind of rewards they use, 100% of companies use gift cards, 32% use nonprofit donations, and 42% use cash cards like PayPal, Visa, and bitcoin.
When asked how rewards were being fulfilled prior to Tango Card, 33% of companies said they did not send rewards, 17% processed checks/deposits/disbursements themselves, 33% purchased physical rewards and fulfilled themselves, 39% purchased digital rewards and fulfilled themselves, and 17% used another fulfillment partner.
Before working with Tango Card, 50% of companies spent a lot of time purchasing and fulfilling rewards themselves, 31% had high fees and costs associated with fulfilling rewards, 38% struggled with tracking and handling lost rewards, 19% had rewards that took too long to be delivered, 25% had a lack of customer support for reward recipients, 13% had a lack of program support from their reward provider, 56% had a limited reward selection, and 13% had a reward selection that did not fit their program.
When asked what improvements they have seen since partnering with Tango Card, 58% have seen a reduction in time managing and fulfilling rewards, 32% have seen a reduction in cost managing and fulfilling rewards, 53% have seen an increase in their desired business result, 37% have seen an improvement in customer service, 63% have happier reward recipients, 63% have seen rewards delivered faster or more on-time, and 42% have experienced better program support from Tango Card.