Some estimates say that the average Prime member spends 2x as much as non-prime members and Amazon as a whole has made it the center point of their omnichannel strategy.
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1. TheRealReal retention campaign
The RealReal formalized their advocacy marketing with their “Refer a Friend” offer. The program is a classic double sided referral program, with a number of nice touches to maximize conversions in the program.
Monetary Incentive for Referrer - TheRealReal highlights the main benefit to take the time to refer a friend, a great $125 off your next purchase.
Secondary Incentive for Friends - Second, you get to gift your friend $25, making it easier to refer.
Multiple channels - By default, TheRealReal makes it easy to invite friends to the program through three channels - email, Facebook, or Messenger.
Remove Friction - Lastly, they remove as much friction as possible. They pre-write an invite and give you the option to reach out in a single click.
The RealReal adds Exclusive Offers (Retention Strategy #3) + Premium Memberships (Retention Strategy #4)
We already saw how The RealReal utilizes customer advocacy to boost retention.
They also take advantage of exclusive offers.
Like Holar TheRealReal uses deals to encourage customers to return. However, instead of providing a straight discount on their products, they focus on providing additional value through credit.
This makes the retention strategy even more successful. The customer only gets the $100 bonus on their next visit.