What is P2P Marketing?
P2P marketing, or peer-to-peer marketing, is one of the best long-term strategies when consumers recommend a specific product or brand. We can also associate it with word of mouth but on a deeper level. People get recommendations from someone they trust in the field. The goal is to promote brand awareness organically. By creating programs or movements for people to talk about your brand, P2P marketing can take your business on top of the game. Anything that leads your brand to be the trending topic is considered a P2P marketing strategy. You encourage peer-to-peer marketing on your website, social media pages, and in-store promotions through contests or giveaways.
Keep in mind that people are overwhelmed with too much online information these days. In this era, anyone can go live and be an expert on anything. But we only listen to the one we can trust. It’s how peer-to-peer marketing works. According to Marketing Charts, 93% of consumers trust friends and family to try new products or brands. You can see how peers and family members can influence one's decision.
But the question is, how can you build your P2P marketing strategy that’s aligned with your business goals?
How to Build Your P2P Marketing?
You can do many things to start P2P marketing, but only a few will be relevant to your business goals. P2P marketing strategy provides sustainable and attainable solutions to business. No matter how good or effective your brand can be, it's useless without being noticed or recommended. We’ve sorted some of the most exemplary ideas to help build your P2P marketing strategy.
1. Use the Power of Storytelling
2. Engage on a Personal Level
3. Prioritize Brand Quality and Benefits
4. Drive an Advocacy With Your Brand
5. Try Customer Referral Programs
6. Connect Your Goals With the Results
7. Be Consistently Genuine
1. Use the Power of Storytelling
When you introduce your brand, you have to tell your story. Draft your story creatively and sincerely to make people understand where your brand is coming from. By giving them a glimpse of your business background and innovation, you are connecting your brand to your target customers. Storytelling, if done right, is a powerful way to establish a remarkable and unforgettable brand. Most people value a good story and even relate their own experiences. If you can get your customers’ attention with a compelling story, they will share it with their friends and family.
2. Engage on a Personal Level
People will not buy a product just because of a good offer. They usually scroll down to read reviews. Once they’re convinced, that is the time they will purchase it. Get personalized recommendations from your customers. Testimonials from people who have tried your brand can help new customers take action. Let’s face it. People want some proof that your product works the way they expect it.
3. Prioritize Brand Quality and Benefits
In establishing a solid brand, you must put quality above anything else. Good quality products can go a long way. Customers who are happy with your brand can share a good story with close friends and peers. Sadly, a bad experience can also spread rapidly. You have to prioritize a good quality brand that benefits both the consumers and your brand. Make your customers love and trust your brand.
4. Drive an Advocacy With Your Brand
Nowadays, people are becoming more conscious of environmental, political, and humanitarian issues. This is a perfect opportunity for businesses to take action and use peer-to-peer marketing strategies. You can promote your brand by driving advocacy that matters to your target customers.
For instance, you can use environmentally-friendly packaging or product materials. Find support on social media platforms and online forums. You can also build an online community that shares values and insights about your chosen advocacy. Your motives have to be genuine. Otherwise it will turn out to be a disaster. Drive for advocacy and be true to your cause.
5. Try Customer Referral Programs
Refer a friend or customer referral programs do work. You can turn your loyal customers into evangelists. Why not? They can recommend your brand and get a reward for it. Investing in a P2P marketing strategy is not difficult after all. You can engage with your existing customers and encourage them to talk about their experiences with your brand. Referral programs work when done right. Just take a look at how we do it here. We have a Strikingly affiliate program that incentivizes our users by sharing their love of Strikingly with their friends and website visitors.
6. Connect Your Goals With the Results
P2P marketing strategy is successful if the results are aligned with your business goals. Monitor your website and social media page activities. You should keep an eye out for potential opportunities to achieve your goals. What are the examples of these goals? It can be brand awareness, increase sales, drive more website traffic, etc. Your peer-to-peer marketing is well-played if you’re getting the results you want.
7. Be Consistently Genuine
The secret to any success is being consistent and genuine. You cannot get what you want if you’re faking things. Don’t compromise your brand by staging ‘so-called’ advocacy or playing attention-getter-gimmick. Remember that the best way to reach your customer’s hearts is by telling them a good story – it must be a true story. Above all, consistently deliver quality products that will make them loyal customers.
What are the Benefits of P2P Marketing?
P2P Marketing Strategy is Practical and Cost-Efficient
If you think P2P marketing is expensive, it depends on the kind of engagements and incentives you can allot to benefit your company. A peer-to-peer marketing strategy is within your control. Most business owners know it’s worth investing in marketing styles that use the workforce or existing customers to expand company growth. In an ideal world, you can get people to recommend your brand for free. But, it doesn’t always work that way. Sometimes you need to allot some funds to launch your brand. You pay for social media ad campaigns, and collaborate with blog writers or influencers. You send samples of your products in exchange for reviews or promotion. With the help of the people around your business (peers), you can cut expensive costs.
P2P Marketing Strategy Helps Bring Loyal Customers
Your brand image is the face of your business. Building a unique and solid brand can get you loyal customers who can share good stories about your product or services. That is why you need to take care of them by keeping them in the loop of special deals. Say thank you and send newsletters to your website members or subscribers with a discount coupon. It may be a small way of showing your appreciation to your customers, but it goes the extra mile.
Here are some takeaways if you want to use a P2P marketing strategy in business – bring out quality products, take care of your customers, and be consistent. Remember that trust is the foundation of your business success. And trust is the very reason why people follow the recommendations of their peers.
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