What Is The Meaning Of Referral Marketing?

According to a definition on Wikipedia, “Referral marketing is a process to encourage and significantly increase referrals from word of mouth, perhaps the oldest and most trusted marketing strategy. This can be accomplished by encouraging and rewarding customers, and a wide variety of other contacts, to recommend products and services from consumer and B2B brands, both online and offline.” Generally speaking, referral marketing is nothing but marketing a product by the word of mouth which implies that you tell your friends or family by simply speaking of a product or service in a good light. It is also considered as a good method of defining consumer satisfaction.