Referral programs have become increasingly popular in the world of marketing, as businesses strive to attract new customers while retaining existing ones. In Bangladesh, where competition among businesses is high, referral programs have proven to be a successful tactic for acquiring new customers. We will take a closer look at two case studies that showcase the effectiveness of referral programs in Bangladesh.
The first case study is that of a popular e-commerce platform in Bangladesh, which introduced a referral program where existing customers can refer their friends and family to sign up for an account. In return, both the referrer and the new user would receive a discount on their next purchase. This strategy not only encouraged word-of-mouth marketing but also increased the platform’s customer base significantly.
The second case study is about a mobile network operator in Bangladesh that launched a referral program where existing customers can refer their contacts to switch to their network. In return, both the referrer and the new customer would receive a bonus on their next recharge. This referral program not only helped the network operator gain new customers but also enabled them to retain their existing ones through rewards.
Both these case studies prove that referral programs can be highly effective in increasing customer acquisition and retention. With a loyal customer base and growing brand awareness, businesses in Bangladesh can benefit greatly from incorporating referral programs into their marketing strategies.
