Refined referral incentive program grew market share and brand loyalty
A revitalised referral incentive program increased market share and built stronger brand awareness for a leading telecommunications company.
Complex regulations, saturated markets and solid competitive offerings were causing this telecommunications company to go unnoticed in the industry it helped shape. Through market research, it identified multidwelling units (MDUs) as an untapped market – and many buildings were already wired for its services. An incentive for this new audience recaptured market share.
Relying on incentive programme experts
Initially, the company launched a customer referral programme that targeted MDU leasing agents and property managers. They would act as the direct channel to tenants for product and service referrals. But despite a strong start, the programme failed to produce long-term results. So they turned to ITA Group, their trusted parter of 20 years, to assess what wasn't working and how to fix it.
3 programme shortcomings impacting growth
1 The existing strategy was rewarding the wrong behaviour. Payouts weren’t tied to the actions that influenced a lessor to sign a contract. | 2 Without audience segmentation, communications were overly general. Meaningful brand connections were missing. | 3 Account managers lacked the tools to identify soft performance. They needed resources to track leasing agent and property manager activity. |
Using data to refine the approach
After integrating with their system and analyzing the data, we developed new rule structures and conservative growth forecasts for the most impact. Extra care was taken that any changes made avoided creating major programme disruption, participant mistrust or negative perception from leasing agents and property managers.
Sparking participant buy-in
Strategic changes – communicated purposefully – created a seamless transition to the new structure. The simpler results-oriented structure included an enhanced focus on participants who would otherwise disengage after a few referrals. The results were quick: on average, there was an increase of seven sold referrals per participant. Additionally, top-performing account managers were motivated by the chance to earn an incentive trip based on the total percentage of associated eligible MDUs enrolled in the programme.
Adapting quickly to market shifts
With the new programme, the company has actionable data so it can quickly react and adjust to the market. Complete flexibility allows for the strategic deployment of timely promotions to counter the competition. And business is monitored in real time, with platform data empowering leaders to make informed decisions.
Account managers have made significant business impact by staying ahead of trends, and offering the data and support channel partners need.
The new programme has overhauled the status quo when it comes to referral programmes, leading to substantial year-over-year gains.
Increased referrals
The programme experienced three quarters of growth in sold referrals in the first year.
Results
149%
increase YOY in sold referrals in new programme's launch year
26:1
ROI in new programme's launch year
104%
increase in programme participation over 2 years
97%
participant reward satisfaction