Colibri Group brands, like many other professional educational solutions, have the inherent power of word of mouth. Working professionals tend to share learning opportunities with their colleagues and fellow niche workers. The Colibri Group team was looking for a powerful marketing partner to boost the referral channel and turn it into a growth strategy.
About Referral Campaign
Talkable first launched with Real Estate Express and then expanded to 6 other niche-specific websites. The team at Colibri worked closely with the Talkable Customer Success team and executed best practices recommendations. Colibri started seeing impressive results right away. Talkable referral programs bring anywhere from 6.8% to 20% of revenue in a month, almost 4x higher than the industry average. This again proves that brands that harness organic, positive word of mouth translate to big referral marketing results.
Highlights:
- Since Colibri customers seldom buy second courses after they purchase the first ones, the Talkable team came up with the idea of providing a gift card incentive to advocates. For brands with low purchase frequency and high AOV, Talkable often recommends integration with a digital rewards company like Rybbon or Tremendous.
- Talkable launched two different campaigns on the multi-product landing page to promote two different courses for one brand. This placement brought 37% of all referral revenue YTD 2021.
- Talkable recommends offering different reward options within the referral placements, as this widens customers' choices and motivates them to share with a larger number of friends (see the green text on the screen). Promoting Real Estate Express through McKissock Real Estate and Superior helped increase annual revenue by 1%.
- For the holiday season, some Colibri group brands offered higher rewards and the results spoke for themselves. Real Estate Express saw a 10% higher advocacy rate and 40% more revenue compared to the ongoing referral offer.
- The advocacy rate on Allied Schools is 17.7%, which is 20% higher than the benchmark; and the conversion rate is 81%, which is almost 3X higher than the benchmark. Allied Schools have a strong, loyal base; its students come back for continuing education. Talkable referral program not only helped with the acquisition but grew the brand's retention numbers.
Results
- From 6.8% to 20% of the referral revenue
- 3.5X ROI
- 2X YoY referral revenue growth
- Talkable referral program is now part of the onboarding process for acquired businesses at Colibri.