How Farfetch accelerates growth by harnessing brand fans
Farfetch is leading the way in high-end fashion retail, offering fashion-forward consumers an inspirational shopping experience.
Its successes include triple-digit growth rates and a $1 billion valuation as a result of extremely high customer satisfaction.
To accelerate its already impressive growth through satisfied customers, Farfetch built a simple referral scheme in-house. Yet despite promoting it through the site's My Account section, Farfetch failed to see any meaningful increase in acquisition.
In the midst of explosive growth across all channels, the Marketing team didn’t have sufficient time or resources to invest in developing its in-house referral program.
It remained optimistic that referral represented a good opportunity, but the channel hadn’t proven itself enough to justify further investment.
After deciding to outsource to Mention Me, Farfetch's referral program was live within six weeks, initially launching on English-speaking sites.
The platform gave the Marketing team the freedom to test and optimize its program, including A/B testing different offers by cohort.
Mention Me's Referral Experts were also on hand to share advice and examples of best practices. Farfetch was especially eager to give its audience the ability to share by name, which it felt would prove popular with its customer base.
Following its early success, Farfetch rolled out referral in six other languages, complete with testing offers and share options in each market.
In just nine months, Farfetch:
Increased new customer acquisition by 15%
Generated more than 20% of referrals through Name Share®
Achieved higher average order value from referred customers than from other new shoppers
Generated more than $130 in incremental revenue through each referred customer