In almost every industry, referrals are the gold standard of customer acquisition. Research has repeatedly shown that referred leads close faster, buy more, and stay longer — all with significantly less effort and at a much lower CPA than non-referred prospects. A University of Pennsylvania study[1] found that referred customers are more loyal and profitable — by a 16% margin — than their non-referred counterparts.

A successful referral program isn’t just about using your existing customers to gain new leads. With 74% of consumers identifying word-of-mouth as a key influencer in purchasing decisions and 92% of people ages 18 to 34 saying that they seek recommendations from friends and family before making a purchase, referral marketing is an integral component of today’s marketplace - and one that can yield impressive results if the right tactics are employed. 

Securing partners (and figuring out incentives) for your partner affiliate program are crucial first steps in building a successful partnership. However, maintaining and nurturing relationships as well as delivering the best experience possible can be more important aspects of your partner program. While these elements are sure to be time and resource intensive, they are also closely tied to long-term success. 

It's that time of year - a time to review and reflect on the year behind us, while planning and strategizing for the one ahead. 

For centuries, word-of-mouth marketing (WOMM) has influenced purchasing decisions on everything from buying a new car to restaurant recommendations to software vendors. It’s no coincidence that you and your network share a few of the same favorite things. Who doesn’t love hearing about a great product or service from a trustworthy source? 

Before we dive into this blog post, we have some HUGE news to share: Ambassador has been acquired by West Corporation! via GIPHY We are honored to be partnering with such an established organization. West products and services extend to the customers of most of the Fortune 500. West is owned by Apollo Group, the world’s largest — and arguably most successful — private equity fund.

For marketers that are running manual business referral programs, more often than not, it can feel like you’re on a hamster wheel. Your goal is to drive new business by bringing in more referrals from existing customers. But to bring in more referrals, you need more time, resources, and money to incentivize your customer base as well as track, pay, and manage your referral program members. But to get that investment from the suits upstairs, you need to show an uptick in new business. Which ...