Customer Referral Programs

Source. Refer. Earn.

Referrals are key to growing any business, regardless of size, industry, location, or market. While buying patterns have changed dramatically, what haven’t changed are the basic principles of human psychology: people are more likely to buy from people that they like and trust.

The stats about referral marketing only validate this long-held belief: people are 4 times more likely to buy when referred by a friend, the lifetime value of referred customers is 16% higher, and 14% (yes 14%!) of customers who visit a referral page take an action. But with all this knowledge about the value of referrals, only 30% of companies have a formalized referral program, meaning the majority of brands have a significant untapped growth opportunity sitting right in front of them.

We have laid out the best practices for creating customer referral programs that drive growth. broken down into 4 key areas: targeting, rewards, promotions, and user experience. If you have read this feature, you can stand entitled to our Rewards program participate in our promotions and gain some great insights and user experience.