eCommerce Fastlane

Referral Marketing: The Incredible Power Of Word Of Mouth To Accelerate Customer Acquisition

EP160 Friendbuy

Your Business Is A Journey.  Invest In Yourself Today.


Being an entrepreneur is a life of learning, implementing, and iterating. All it would take is a new idea, a strategy, a Shopify app, or a marketing platform to be the next thing you need to improve efficiencies, drive more revenue, and build lifetime customer loyalty for your Shopify brand.

In today’s episode, my guest is Manish Goyal the Founder and CEO of Friendbuy. They are a Referral Marketing Platform that helps Shopify ecommerce merchants to accelerate customer acquisition through referral programs. Referrals are an incredible channel for dynamic business growth. It lowers your customer acquisition costs and increases your customer lifetime value.

Let’s learn more about expanding your reach and transforming your customers into loyal and engaged brand advocates.

What You Will Learn Today

  • Why high growth Shopify brands are leveraging word-of-mouth through scaleable technology.
  • How a well-executed referral program can generate from 5% to 20% of total orders.
  • The benefits of stackable account credits as a referral reward.
  • How Friendbuy integrates with your existing tech stack like Klaviyo, Okendo, Attentive, and more.

Links And Resources Mentioned

Tweetable Gold Nuggets

Friendbuy makes it super simple for Shopify merchants to launch a referral program with all the best practices you need to succeed.Click To Tweet
Every customer you acquire through referral is one less you have to acquire through a paid channel, so it’s incredibly cost-efficient.Click To Tweet

Thank You For Listening

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Thanks for being a supporter and loyal listener... I'll see you in the next episode!

Episode Sponsor: HiConversion Recommend

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Today’s episode is sponsored by HiConversion Recommend powered by Amazon Personalize – product recommendations with the same AI used on Amazon.

With a 5-star rating on the Shopify App Store, HiConversion Recommend helps time-poor ecommerce teams to drive more new revenue from their existing web traffic. One-click Shopify integration, dozens of ready-to-go recommendation templates, effortless reporting, and a hands-free 7-day Product Recommendation Challenge, make it easy to put Amazon’s own AI to the test on your storefront.

Do you have 50+ products and $1M+ in online sales? If so, learn how to claim your seat and start your 7-Day Product Recommendation Challenge for Shopify.

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About the author

Steve Hutt

Steve has entrepreneurship in his DNA, starting in the early days of online commerce when he achieved Power Seller status through his eBay store. This propelled him to become a co-founder of VisionPros.com, a contact lens and eyewear retailer. With a successful exit from his startup, he embarked on his next journey into agency work in e-commerce and digital strategy.

Currently, Steve is a Senior Merchant Success Manager at Shopify Plus, where he helps identify, navigate, and accelerate growth in the complex world of commerce.

To maintain his competitive edge, Steve also hosts the eCommerce Fastlane Podcast and Shopify Founder Stories, a top-rated twice-weekly podcast where he interviews Shopify Partners and subject matter experts who share the latest marketing strategy, tactics, platforms, and must-have apps, to help Shopify brands improve efficiencies, grow revenue, profit, and lifetime customer loyalty.