How NEIWAI Utilizes Referrals as a Strategic, Cost-Effective Customer Acquisition Tool
Revenue from Loyalty Program
Of Orders Processed Through Referrals
Customers Making Multiple Referrals
Grow Customers Base
Acquiring new customers is expensive, and grows more so as social
media advertising markets mature (and raise their advertising costs!).
As NEIWAI expanded into the American market, they wanted to grow their customer base in a market-savvy and expense-savvy way.
NEIWAI knew of the power of customer referrals and word-of-mouth, and wanted to harness that power to attract new customers while decreasing cost of acquisition. They chose to use Rise.ai store credit solution to create a loyalty and customer referral program that would appeal to current and potential customers.
NEIWAI launched their ‘reward for referral’ campaign at the beginning of May 2021. Both customers who referred a friend and the friend being referred received $20 Reward. There was no reward limit: customers are rewarded with store credit for every successful referral. The logic is simple – the more friends you refer, the more rewards you earn.
“As we grew our online retail presence in the US,
We started looking for a way to engage our customers and reward those who talked to their friends about us. Rise.ai is a great way to give back to our customer base at every purchase, and specifically by rewarding referrals.
At NEIWAI, we strive to define ourselves by our genuine compassion and care for our customers’ physical and mental well-being – so giving them rewards that they can truly appreciate fits right in!”
Darren M. Baldwin, Marketing Manager
Over the first three months of NEIWAI’s referral rewards program, customers demonstrated how much they liked NEIWAI and how willing they were to share the brand with their friends. Thousands of customers joined their loyalty program. 15.61% of NEIWAI’s program members referred not only one friend, but multiple friends! Over this initial three month period, 1.74% of new customers came from the referral program. The Store Credit Rewards were the ideal incentive, giving both the new and the old customers some “free cash” in hand and encouraging them to spend it. And spend they did: NEIWAI took in $443K in revenue as a result of the loyalty program.