Word Of Mouth Can Get You To Long Distances
The media company’s referral program accounts for 30% of their total subscribers and is the “secret sauce” that accelerated their growth flywheel.
Media publisher Morning Brew always strives to bring its community the best stories, videos, and podcasts. In order to do so, they need more subscribers. But how do you attract new readers when your competitors are similar in content? A referral program.
By using a series of gamified tiered bonuses, they have created a flywheel that built momentum around finding and referring new customers.
The company used the RocketSource Referral Engine to generate more than 2 million new subscribers.
Persistent Always Pays Off: The Best Long-Time Growth Strategy
Although making the best use of referral marketing, we must consider that MorningBrew’s co-founders, Alex Lieberman & Austin Rief, have been very persistent from their early days in college where they’d write down students’ email addresses and add them manually to their daily business newsletter subscriber list! Persistent has been always the most promising growth strategy that is almost free, but requires a lot of patience. Maybe that’s why legends like Elon Musk or Steve Jobs always mention that you need to be passionate about what you do. Because when it gets tough, not every person would last and deal with difficulties.