Referral Marketing

33 Amazing Referral Marketing Statistics for 2023


An updated list of facts and statistics about referral marketing that show the incredible impact of word-of-mouth programs


33 STATS REFERRAL MARKETING 2023


General Statistics

  • 92% of consumers trust recommendations from friends and family more than all other forms of marketing. (Nielsen)
  • Word-of-mouth marketing is responsible for 13% of all sales. (MarTech Alliance)
  • Referral customers have a 37% higher lifetime value than non-referral customers. (Bain & Company)
  • Referral customers are 50% more likely to make a purchase than non-referral customers. (McKinsey & Company)
  • 74% of consumers say word-of-mouth is a key influencer in their purchasing decision. (Ogilvy Cannes)


Industry-Specific Statistics

Ecommerce:

  • 23% of Singaporean shoppers bought something in a physical store in 2019 based on a friend's recommendation. (BrightLocal)
  • 73% of online shoppers trust the recommendations of other consumers. (Finances Online)
  • 44% of Gen-Z have made a purchase based on a recommendation from a social media influencer. (Marketing Dive)

Restaurants:

  • 37% of Americans decided on which restaurant to eat at based on word-of-mouth recommendations. (MarTech Alliance)
  • 72% of diners say they're more likely to try a new restaurant if they've heard good things about it from friends or family. (OpenTable)
  • 53% of diners say they're more likely to order a dish if they've seen it recommended on social media. (Yelp)

Electronics:

  • 31% of electronics purchases are heavily influenced by word-of-mouth recommendations. (Gartner)
  • 68% of consumers say they're more likely to buy an electronics product if it has been recommended to them by a friend or family member. (Consumer Reports)
  • 45% of consumers say they're more likely to buy an electronics product if they've seen it recommended on a tech blog or website. (Pew Research Center)

Software:

  • 20% of North Americans who became aware of a software product through word-of-mouth made the purchase instantaneously. (Enterprise Apps Today)
  • 79% of software buyers say they're more likely to consider a product that has been recommended to them by a friend or colleague. (G2 Crowd)
  • 66% of software buyers say they're more likely to buy a product if they've seen it recommended on a review site. (Gartner)

 

Other Statistics

  • 82% of employers say employee referrals offer the greatest return on investment. (Exploding Topics)
  • Referred customers have a 16% higher lifetime value than customers acquired through other channels. (American Express)
  • 86% of businesses with referral programs say that referrals take less time to close than other leads. (Small Business Trends)
  • 69% of B2B frontline sales personnel, 70% of sales leaders, and 67% of marketers believe that referred leads close faster than other leads. (Think Impact)
  • 77% of consumers are more likely to buy a new product when learning about it from friends or family. (Nielsen)
  • 91% of B2B purchasers said that their buying decisions were influenced by word of mouth. (Forbes)
  • 84% of B2B decision makers start the buying process with a referral. (Harvard Business Review)
  • 71% of B2Bs report higher conversion rates from referrals than other customers. (Exploding Topics)
  • 89% trust recommendations from people they know the most. (Nielsen)
  • 40% of company hires are more likely to be retained after one year if they are from employee referrals. (Jobvite)
  • 42% of B2B marketers say referral marketing is their most effective marketing channel. (Content Marketing Institute)
  • 69% of businesses with referral programs say referrals are their most valuable source of leads. (Signpost)
  • 83% of marketers say referral marketing is very effective at generating high-quality leads. (Content Marketing Institute)
  • 75% of marketers say referral marketing is essential to their business growth. (Content Marketing Institute)
  • 81% of U.S. online shoppers say they've made a purchase based on a recommendation from a friend or family member on social media. (Sprout Social)
  • 73% of consumers are more likely to trust a brand that's recommended by friends and family (Marketing Charts)


Free eBook: Building a World-Class Referral Program


Similar posts

Free resources,
Straight to your inbox.

Sign up for our Ambassador newsletter and get notified when we publish new
eBooks, case studies, blog posts and more. It's like a crash course in referral
marketing - and it's free. Plus, we promise not to spam you.