20 tweetable customer referral program stats

More and more companies are automating their customer referral programs through referral software to grow their lead generation at scale. To understand how these companies referral programs are performing,  20 tweetable stats are provided. These stats come from the data report, The State of Business Customer Referral Programs. The data from this report was based on millions of referrals made on companies’ customer referral programs run on the Amplifinity platform.

The power of referral programs for lead generation

1.

The verbal referral method is used 13% of the time and has the highest conversion rate (32%). Click to Tweet

2.

Lead form referrals are used 23% of the time to refer and have a 19% conversion rate to deals. Click to Tweet

3.

Email is used to refer 24% of the time and has a 17% conversion rate to deals. Click to Tweet

4.

Social media is the most used referral method (29%) but is the least converting (1%). Click to Tweet

5.

Print cards are used to refer less than 1% if time but has a 12% conversion rate to deals. Click to Tweet

6.

The shareable URL referral method is used 12% of the time but only has a 4% conversion rate. Click to Tweet

7.

Customer referrals converted 3x (13%) more than the referral industry standard (3.63%). Click to Tweet

8.

Customer referrals with sales involvement increase deal conversions to 31%. Click to Tweet

9.

61% of customers make 1 referral. 34% make 2-10 referrals. 5% make 11+ referrals. Click to Tweet

10.

Active customers produced an average of 0.87 referral leads/year. Click to Tweet

11.

Customers with previously successful referrals produced an average 2.5 referral leads/year. Click to Tweet

12.

Top 1% of customers making referrals made 22% of referrals resulting in 1% turning into… Click to Tweet

13.

Top 10% of customer making referrals made 54% of referrals resulting in 6% turning into deals. Click to Tweet

14.

52% of customer referrals reward with gift card, 29% checks, 9.5% bill credits and 9.5%… Click to Tweet

15.

52% of referrals reward with gift card, 29% checks, 9.5% bill credits & 9.5% swag. Click to Tweet

16.

6% of referrals with rewards 1,001 - $2,500 converted to deals. Click to Tweet

17.

5% of referrals with rewards $101 - $1,000 converted to deals. Click to Tweet

18.

13% of referrals with rewards $41 - $100 converted to deals. Click to Tweet

19.

The average customer referral reward amount among programs was $111. Click to Tweet

20.

82% of referral rewards were between $41 - $100. Click to Tweet
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