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Theorem Case Study: Name Sharing referral program
Since the launch of the name-sharing campaign, hair specialists have seen a 50% + increase in conversions, which has helped them grow their businesses.
About the Company
Theorem is the first brand to develop scientifically-proven, customizable hair care products designed to give “YOU, your very best hair!”! The Theorem team has collaborated with scientists and designers, with over 75 years of combined experience, and has generated over a billion dollars in revenue worldwide. Theorem’s dream is to help people increase confidence and restore their own hair. Their 3-step, custom formulas are designed to strengthen and thicken each strand.
About the Program
Theorem has been a Talkable partner since December 2020. With a large network of hair specialists, Theorem began looking for an easy way for each of them to share Theorem products with their customers. Talkable suggested utilizing a new campaign - Name Sharing.
This type of campaign allows brand advocates, or in this case, the Hair Specialists, to share their names instead of the referral link with future customers. When a Hair Specialist signs up for the referral program, they can create a unique name or a nickname to share with customers. When a customer is ready to check out, they click on “Been referred by a friend?” call-to-action and enter the Hair Specialist's name to get the coupon.
Talkable generates a unique single-use coupon code that the new customer can use and when they do, the advocate (our Hair Specialist) is rewarded, too! Hair specialists benefit from the ease of sharing Theorem with their customers, and customers benefit by activating a reward. Name sharing campaigns work best for brands that have a network of brand influencers, or professional niche communities, just as Theorem does.
Name sharing campaign complements their on-going referral campaigns and showed improved results. New customers' visits to the Theorem website increased by 22%, and their conversion to purchase increased by 51%.
Since the launch of the name-sharing campaign, our Specialists have seen a 50% + increase in conversions, which has helped them grow their businesses. The simplicity of the name-sharing campaign has helped our Specialists become more engaged with their customers while driving revenue and growth for their businesses. We are grateful to work with such an amazing team at Talkable who continually helps us improve processes to become more efficient. --Matt Lind, COO