When a business wants to generate high-quality leads, one of the strategies that it turns to is referral marketing. And it’s not hard to see why. Referral marketing is known for having four times higher conversion than typical marketing channels, according to eMarketer. One of the leaders in the referral marketing space is Ann Arbor-based Amplifinity.
Amplifinity has built a successful software-as-a-service platform that is available in three flavors: Amplifinity Base, Amplifinity Pro and Amplifinity Enterprise. Amplifinity also maintains an app for the Salesforce AppExchange called the Amplifinity Connector – a referral app that integrates into Salesforce in 30 minutes to facilitate an exchange of data from Amplifinity to Salesforce and drive referrals in Salesforce. This increases sales team productivity and revenue from referrals.
Amplifinity’s flagship software is an automation engine that controls referral programs for businesses of all sizes. And Amplifinity’s platforms enable businesses to engage with existing customers and partners and incentivizes them to make a trusted introduction to a brand for a high-valued interaction. Some of Amplifinity’s customers include ADP , DIRECTV, ADT , TSYS and RingCentral.
Amplifinity offers 100% referral attribution with trackable referral sharing options for customers and partners such as email, social media, personalized URLs, offline referrals and verbal referrals. And the Amplifinity platform enables marketers to generate authentic campaign creative, reward options and much more. Amplifinity also provides marketers with the data to gain insight into an advocate’s activity and how promotions are performing to learn how customers and partners are engaging across business networks. Plus Amplifinity’s analytics give businesses measurable ROI to create program accountability.
Recently, Amplifinity committed themselves to the Salesforce 1% pledge in which they promise to donate a combination of 1% of their time, revenue, and product. Amplifinity is also donating $5 from every demo it receives at conferences to Playworks – a non-profit that focuses on the importance of play in a child’s development and learning. Amplifinity employees are also volunteering their time at Food Gatherers, an Ann Arbor-based non-profit that distributes food to people in need.
Amplifinity has raised over $15 million in funding since it was founded in 2010. Some of Amplifinity’s investors include Draper Triangle, Early Stage Partners, RSVP Ventures and West Capital Advisors. To learn more about the company, I spoke with Amplifinity CEO, Larry Angeli:
Amit Chowdhry: What events took place that led to the founding of Amplifinity? And what was the decision behind the name “Amplifinity?”
Larry Angeli: Early in his career at IBM IBM -1.17%, Amplifinity’s founder Richard Beedon learned the power of referrals. In his sales territory, he built a network of businesses and individuals that gladly provided him with leads based on the combination of IBM’s strong products and the quality of his relationships with them. That network enabled him to be the leading salesperson in his region. Many years later, that success became the seed for the idea to start Amplifinity.
Our customers often talk about the idea of amplifying the goodwill that exists in their customer base as a way to generate new revenue. We believed amplifying word of mouth marketing to infinity across all networks was a great way to capture the essence of our mission as a business, hence the name “Amplifinity.”
Amit Chowdhry: What are some of the advantages and disadvantages of being based out of Michigan?
Larry Angeli: Michigan is terrific place to locate a technology company. And the state has been a big supporter through the Michigan Economic Development Corporation (MEDC). In addition our location in the Ann Arbor area is a not only a hot area for startups, but also a magnet for technology talent coming from the University of Michiganand the broader Detroit metro area. Locating in a college town provides a great quality of life for our employees.
Amit Chowdhry: Is there a specific Amplifinity customer case study that stands out?
Larry Angeli: ADP recognized the value of referrals in generating organic growth. It was incredibly powerful for targeting SMB where referrals are a natural part of networking between businesses and the trusted advisors that support them in their growth. ADP needed a better way to harness and grow referrals from these groups. With Amplifinity they provided robust referral tracking and data transparency for their customer and partner advocates all within an ADP-branded experience. Referrals are now their top source of lead generation.
Amit Chowdhry: There are several competitors in the referral marketing space. How is Amplifinity distinguished from its competitors?
Larry Angeli: Amplifinity is the only referral software provider that has built a platform that satisfies the unique needs of companies that generate leads for a sales team. This includes: 1.) A deep integration with Salesforce that truly enables sales and customer support teams to be a part of the referral program 2.) Handling of tax compliance, CAN SPAM compliance, advanced reward structures and fulfillment that are critical for companies running referrals as an always-on channel for demand generation 3.) Automated nurturing communications to keep advocates engaged and making referrals 4.) Data and analytics that are unmatched in helping companies to understand their brand advocates and show the ROI of their referral programs.
Originally published at Forbes.com