Interested in initiating a customer-focused referral marketing plan or growing your existing program? You're in the right place! We're true believers that your happy customers are your most direct partners in your growing success, and their authentic advocacy is worth its weight in gold...and ROI. So how do you leverage your customer base in your existing marketing strategy? By enrolling customers as brand ambassadors in your referral program, you empower them to refer your company to others. ...

As more financial services companies see an increase in digital adoption, there is a natural spike in customer referrals also occurring. In fact, many of the most successful financial companies are combining traditional marketing strategies, like print ads and direct mail, with digital acquisition channels, like referral marketing, to boost sales.

The environment for marketing and sales is rapidly changing and businesses are looking past traditional channels to drive business growth. These 8 referral marketing statistics show that while most of us - as consumers ourselves - inherently understand the value of referrals, it's time for brands of all sizes to also start taking notice. 

While the primary goal for most referral marketing programs is to bring in new business, it's equally important to consider the other side of the proverbial coin: customer loyalty. According to a study by Customer Insight Group, Inc., loyal customers make up 55-70% of sales for a business. Furthermore, 78% of loyal customers are more than happy to spread the word about a brand they love.

No longer is a referral program a "nice to have"; it's now a must have for most high-growth businesses. In almost every industry, referrals are the gold standard of customer acquisition. Research has repeatedly shown that leads coming from a referral marketing program 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 found that referred customers are more loyal and profitable — by ...

Whether you're a referral marketing pro or getting your program off the ground, we can all agree that manually sorting through who referred whom, approving and sending out rewards, and then tracking all efforts in a convoluted spreadsheet can consume A LOT of time.