Our new Referral Program Playbook takes an in-depth look at referral programs. It covers how and why they work, and how to make your own referral program stand out.
Referral programs are a popular way for businesses to source new customers. They follow a pretty simple format:
Get existing customers to find new customers with the help of incentives or rewards.
Specifics can vary from referral program to referral program, but generally both the existing customer (advocate) and the new customer receive a reward following a successful sign up.
Referral programs are obviously popular with customers because they get rewards. But why are they so popular with businesses?
Firstly, referral programs are proven to aid businesses in the pursuit of a number of different business objectives, including:
These are all key parts of a successful business, and ultimately they serve to increase revenue in the long run.
Find out what it takes to build a great referral program in our new Referral Program Playbook.
Secondly, when you look at the stats, customers brought in through referral programs are much more valuable than average.
Seeing stats like these, it’s no surprise that so many businesses are eager to run their own referral programs.
Our new Referral Program Playbook explores the topic of referrals and referral programs in detail, including:
To learn all this and much more, get your own copy of Talon.One's Referral Program Playbook here.
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CEO & Founder