Rybbon and Yotpo Partner to Add Digital Rewards to Customer Referrals

There are plenty of reasons for marketers to put time into a customer referral program. Research has repeatedly shown that customer referrals have higher conversion rates, spend more, and are more likely to become loyal customers themselves. Increasing your company’s number of referrals does only good things for your bottom line.

Outside of your already engaged brand advocates, though, your wider customer base doesn’t always provide a steady stream of referrals. That’s why Rybbon has brought its digital rewards management platform to its partnership with Yotpo, a leading marketing platform that includes referral and loyalty solutions. By adding the power of digital rewards to Yotpo’s referral programs, you can turn customers into continuous lead generators for your company.

The Importance of Customer Referrals 

For both e-commerce and B2B businesses, customer referrals are one of the most effective strategies for marketing and sales teams to close more deals and generate more revenue. Consider that:

• More than 80% of consumers say they trust recommendations from people they know, more than any other advertising format, according to a Nielsen survey. For comparison, that’s almost twice the number of people who said they trust online banner ads. 
• Nearly half of B2B technology vendors report that customer referrals have been their most successful marketing tactic during the pandemic, according to Statista. 
• An analysis by researchers at Goethe University and the University of Pennsylvania found that referred customers have an 18% lower churn and 16% higher lifetime value than customers acquired by other marketing tactics.

The challenge is motivating your customers to submit their friends and business connections to you as referrals. Sure, you’ll always have some loyal, enthusiastic advocates spreading the word, but the more of these valuable leads you can get, the better.

Using Digital Rewards to Bring in More Referrals

With Rybbon’s extensive catalog of digital rewards, you can incentivize customers to keep the referrals coming. And now, our integration with Yotpo’s referral tool gives you even more control over your referral incentives program. Combined, the platforms let you:

• Offer rewards from top brands, including Amazon, Apple, Starbucks, Visa, Mastercard, and more, to referrers around the world. You can curate your own selection or use Rybbon’s Smart Global Choice feature, which automatically presents a list of available awards based on the recipient’s country.
• Customize everything from the interface where the referral is made to the email the referred customer receives to the reward claim page that the referrer visits.
• Set the amount a referred customer has to spend for the referrer to earn a reward. You can also designate a certain window of time the referral has to make the purchase in order for the reward to be issued.
• Trigger automatic reward delivery to the referrer when a qualifying purchase is made. This functionality saves countless hours for your team. However, if you want more control, Rybbon’s approvals features lets you review each recipient before the reward is sent.
• Track rewards with complete transparency into how many have been sent and to whom, how many have been claimed, and how many you have available.
• Get 100% refunds on any unclaimed rewards, so you don’t waste a dollar of your budget. 

With customer referrals becoming only more influential in today’s digital, social-media-driven world, no business can afford to miss out on this important marketing channel. Fortunately, with the integration of Rybbon’s digital rewards management platform and Yotpo’s loyalty and referral tool, collecting referrals becomes infinitely easier without taking up your team’s precious time. Customizable criteria and automatic reward delivery streamline the process so you can sit back and watch the referrals roll in.

It’s time to ramp up your customer referrals program! Learn how Rybbon and Yotpo can help.

about the author

Hannah Prince

Hannah is a reformed journalist who has more than 15 years of experience and now focuses on content marketing for innovative tech companies.

Hannah is a reformed journalist who has more than 15 years of experience and now focuses on content marketing for innovative tech companies.