Referral Marketing is a strategy where businesses encourage existing customers to refer new clients or customers in exchange for rewards or incentives. This approach leverages the personal networks and trust that current customers have to attract new business. By offering benefits such as discounts, credits, or other rewards, companies motivate their satisfied customers to spread positive word-of-mouth and generate leads or sales. Referral marketing can be highly effective because it relies on personal recommendations, which often carry more weight than traditional advertising.
