With the information overload that we experience in today’s fast-paced society, it is no surprise that people trust their family and friends more than virtually any other information source available to them. In fact, people pay twice as much attention and are four times more likely to buy when referred by their family or friends!
We’ve put together the five facts that you need to know about effective referral marketing programs and why you should start building your new program today.
• 65% of new business comes from referrals
• 49% of U.S. consumers say friends and family are their top sources of brand awareness
• Over 50% of consumers are more likely to refer if given a direct incentive to do so, but the size of the incentive does not matter
• Lifetime value of a referred customer is 16% higher
• 83% of satisfied customers are willing to refer products but only 29% actually do
Rolling out a targeted referral program for your business will quickly generate leads within a span of your satisfied customers’ networks—a smarter way to spend your marketing dollars.
Interested in starting your own Automated Refer-A-Friend Program?
Call us today at 800-7928812 or email us at firstname.lastname@example.org
Get one started within days!