On average, referred customers spend 11% more on their first order than other customers.
Consumers today are increasingly relying on recommendations from friends, and family when it comes to their purchase decisions. While order volumes may be decreasing, brands are seeing an increase in the number of new customers acquired owing to referrals.
Along with focusing on generating referrals, marketers must use the available customer data to identify trends and make better-informed marketing decisions. This is particularly helpful for brands aiming to study customer behaviour of clients they acquired during the lockdown.
Going forward, marketers are expected to prioritise creating seamless CX for their audiences. This holds true for all sectors and industries that rely on websites at the primary point of conversion. Brands must now respond to specific customer segments and recommend products that like-minded consumers have bought.
[4 minute read]