The way that consumers are making buying decisions is changing. There is a growing, tangible intersection between technology and purchasing behaviors. As a business, you need a strategy to facilitate the conversations that occur on and around your company as your customer base can be a very valuable resource. You need to ensure that your customers are able to get the word out about their favorite products/services from your brand.
Therefore, one of the most important things a business can do is to have a structured approach to recommendation marketing.
So what exactly is recommendation marketing?
Recommendation marketing has a historical basis. As a 17th century French writer said, “Before we set our hearts too much upon anything, let us first examine how happy are those who already possess it”.
In essence, recommendation marketing is the practice of facilitating and encouraging interactions within trusted networks that influence prospects during a brand’s purchase lifecycle.
It is sometimes known as referral marketing or social marketing as well.