Reference marketing

Under reference marketing refers to the marketing with the help of references . In this case, reference denotes a person or a company that has a business relationship with a company and has given its consent to be named as a reference of this company. Under certain circumstances, the reference provider also expresses himself on details of the cooperation. Reference marketing systematises this process, nominates and manages reference providers and organizes the production of reference materials.

Reference marketing is an effective, because it is a credible, instrument for acquiring new customers, because in reference marketing, positive statements about the performance of a company do not come from the company itself, but from its satisfied customers. Reference marketing assumes that potential customers are more likely to believe other customers' experiences than the vendor's marketing promise during the purchase decision phase. In contrast to recommendation marketing , reference marketing focuses on generating reviews of existing customers in a targeted and controlled manner. With reference marketing, moreover, concrete content is usually conveyed about completed services, so it has so far mainly been in business transactions between companies ( B2B ). Marketing with the help of references is related to word-of-mouth marketing; in English-speaking countries it is also known as reference selling or customer reference management. A characteristic of reference marketing is that it provides advantages for all actors involved: The interested party gets an independent source of information, the reference provider can prove his competence and the reference recipient receives an advocate. Ideally, this can create a win-win-win situation. The reference marketing instrument is primarily established in information technology . Large IT companies have several hundred customer references. The instrument is currently gaining a foothold in other industries.

Expressions

Mention of reference customers and presentation of their logo

Smallest form of reference marketing. Disadvantage: little effect, because services cannot be verified and no project details are communicated.

Quotes from reference customers

A small content component is added to the customer name.

Case studies with reference customers

Classic instrument of reference marketing. Presentation of a project with the reference customer in print form, usually on two A4 pages. In a case study, only the reference customer has a say. He is represented with a logo, pictures and quotes.

Success story

Report on the overall relationship between reference giver and reference recipient. In contrast to a case study, it is less subject-related and more promotional.

User report

Case study with a reference customer that is adapted for press use and appears in a medium.

Video case study

Cinematic representation of a case study.

Presence of reference customers at events

the reference customer reports on the joint project at trade fairs, forums and events at the invitation of the reference provider.

Reference calls

The reference provider gives his consent that interested parties can call him.

Reference visits

The reference provider gives his consent for interested parties to visit. The reference visit is considered the supreme discipline of reference marketing.

Case study via email or as a pdf file

Potential new customers can be won over by email and the attached reference folder, case study of one or more reference customers.

Possible uses

1. Sales : In sales, the case study is the most common reference marketing tool. Case studies are used at all points in the sales process: as content bait for generating interested parties, for providing information to interested parties, as a supplement to offer documents also in tenders, as a joker in the supplier reduction process and as an instrument for binding an existing one Customers.
2. Marketing : The Case Study reference marketing instrument is used in many areas of marketing: Among other things, as content for the company website, for corporate publishing and for newsletters, and also as a give-away at trade fairs and events. Reference customers are also used for classic advertising campaigns, for example by Vodafone.
3. Public Relations : The Case Study reference marketing tool is possible content for press releases and press releases, for example as a specialist article.
4. Business start-ups : Reference marketing enables companies in particular that are in the start-up phase or start-ups, and consequently have a small group of customers, to build trust with potential new customers.

Challenges

In addition to creating the content of a reference, the reference taker must conclude a legally secure reference agreement with the reference provider. The reference agreement typically regulates

• which text or formulations may be used,

• whether the reference provider's logo may be used,

• whether the real name or a clause should be used or

• Whether the reference provider may be contacted by potential clients of the reference recipient for further information.

Software tools for reference marketing

Reference management (creation and reference agreement) and reference marketing (dissemination via marketing channels) can be simplified and partially automated using various software tools. There are currently various providers on the market (here the best known with a brief explanation):

• ROInnovation (USA): Covers the entire workflow from creation to marketing; Solution for larger companies
• TechValidate (USA): Focus on customer references from the IT sector
• Point of Reference (USA): Salesforce app for creating and distributing references on websites
• Trusted References (D): Covers the entire workflow in addition, a seal for the verification of references
• ReferenceNow (USA): Comprehensive software for reference management (few marketing functions), focus on IT companies

See also

• Network marketing
• Word of mouth

literature

• Anne M. Schüller:  Future trend recommendation marketing . Business Village, 2005,  ISBN 978-3934424654 .
• Casey Hibbard: Stories That Sell: Turn Satisfied Customers into Your Most Powerful Sales & Marketing Asset . 2009, ISBN 0-615-18300-X .

Individual evidence

1. ↑ "With references to new customers" - Webinar Verio: http://hosting.verio.de/ueber-verio/seminare-und-webinars/mitschnitte-zum-download.html#c3112
2. ↑ Video interview Media-Treff.de: Archived copy ( Memento of the original from December 12, 2010 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. 
3. ↑ Article Adzine: Archived copy ( Memento of the original from December 1, 2010 in the Internet Archive ) Info: The archive link was inserted automatically and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. 
4. ↑ Customer Reference Handbook ( Memento of the original dated June 10, 2011 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. 
5. ↑ Article Bitkom on reference marketing ( Memento of the original from April 20, 2010 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice.