4 key components to harness the power of referrals and grow

1. Your word of mouth Word-of-mouth (WOM) uses existing customers to get more customers. This happens organically without your intervention. Referral programs simply add fuel to the fire. The fuel is to motivate them with some incentive to make the outcome repeatable. Without the fire, there is no point in adding fuel 2. Meaningful incentives Find what genuinely motivates your customers. It always isn’t money. 3. Run small-scale experiments and figure out the process before you scale. 4. Solve this like a math problem, and you’ll also get the right metric to look at - Viral coefficient Thank you for reading. In detail, including chatGPT referral assistant and case studies here: https://growth5x.substack.com/p/how-to-harness-the-power-of-referrals What more will you add to this?