Top 3 Referral Program Tools to boost your sales
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Introduction
Acquiring new customers is a constant challenge for businesses, and most acquisition channels available are expensive. Referral programs can be a powerful solution to this, bringing you consistent growth in a much more cost-effective way.
However, with so many referral program tools to choose from, Finding the right one for you becomes another problem. We've done the research for you and compiled a list of the top 3 referral program tools to help you make an informed decision and drive growth.
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What is a referral program?
Referral programs are the most cost-effective way to bring in new customers.
Imagine you found a great restaurant nearby that your friends don’t know about yet. You’d want to share it with them right? Now, what if the restaurant gave you a free meal every time you brought in a new customer? You’d go and talk about this restaurant even more.
Referral programs tap into this natural human behaviour and make a growth loop where each customer keeps bringing you new customers who will again bring in new customers and so on…
And when one of your customers goes and tells their friend or a family member about your product, they will be 25 times more likely to make a purchase (That’s huge!).
It’s a win-win for both you and your customers. You get new customers and increased sales, and your customer gets rewarded for sharing their positive experiences.
It's a great way to harness the power of word-of-mouth and turn your happy customers into your brand advocates.
Why do you need referral program software?
While you can build your own referral program manually, you run the risk of creating a very complicated mess for yourself and your customers.
A good referral program software makes it easy for you to quickly set up, manage and track the program's performance.
These platforms offer features like automated referral tracking, reward fulfilment, and performance analytics, that will give you clarity on how your program is performing. Your customers will also be able to see which of their friends have signed up, and how much rewards they can expect to get.
Additionally, using referral program software gives you the ability to easily customize, and optimise campaigns, and integrate it with other marketing software with just a few clicks.
Doing all of this manually will take up a lot of your resources.
3 Best Referral Program Tools You Can Choose From
1. CustomerGlu
About CustomerGlu
CustomerGlu is a plug-and-play gamification platform that helps you create rich in-app experiences. It offers 50+ templates that you can use to solve any and every retention and engagement problem. You can also create your own templates from scratch to best suit your needs.
Key Features
Launch referral programs in days instead of months - without involving a developer.
CustomerGlu gives you a Canva-like platform where you can easily build, launch and manage your campaigns without ever involving a developer. You can pick any of their templates and customise them to fit your brand or make a new template from scratch.
Make referrals engaging with gamification
Referral programs often lack the fun and excitement for the customers, but not with CustomerGlu. With CustomerGlu's gamification feature, you can referral programs into an engaging and rewarding experience for both you and your customers. Their platform lets you gamify referrals by adding elements like streaks, multi step campaigns, spin the wheel, and many more games.
2. Referral Factory
Referral Factory is an easy to use referral marketing solution that helps you get more referred customer. With Referral Factory, you can build your own referral program in under 5 min using their 1000+ pre-built referral program templates. You can build your own referral program from scratch as well.
You don't need to install any tracking scripts on your website - so you can build your program without a developer.
Key Features
Customizable referral programs.
Referral Factory’s customizable referral programs enable you to create and implement referral campaigns tailored to you brand.
Automated referral tracking.
Referral Factory’s automated referral tracking allows you to automatically track and monitor the performance of their referral programs, including the number of referrals generated, conversion rates, and rewards paid out, thereby streamlining the process and reducing the risk of errors and fraud. This helps you optimize your referral programs accordingly.
Multi-channel referral sharing.
With multi-channel referral sharing you can reach a wider audience and maximize the effectiveness of you referral campaigns by enabling customers to share referral links and codes through multiple channels such as email, social media, messaging apps, and more. This can help to increase customer engagement, drive more referrals, and ultimately boost sales and revenue.
Ease of integration
Referral Factory easily integrates with CRM softwares, and marketing automation tools. This can save time and effort in setting up and managing referral campaigns.
3. Referral Rock
Referral Rock is a referral marketing platform that enables businesses to create and manage referral programs effectively
Key Features
Customizable referral programs.
Referral Rock’ customizable referral programs enable you to create and implement referral campaigns tailored to you brand.
Automated referral tracking and fraud detection
Referral Rock’s automated referral tracking allows you to automatically track and monitor the performance of their referral programs, including the number of referrals generated, conversion rates, and rewards paid out, thereby streamlining the process and reducing the risk of errors and fraud. This helps you optimize your referral programs accordingly.
Multi-channel referral sharing.
With multi-channel referral sharing you can reach a wider audience and maximize the effectiveness of you referral campaigns by enabling customers to share referral links and codes through multiple channels such as email, social media, messaging apps, and more. This can help to increase customer engagement, drive more referrals, and ultimately boost sales and revenue.
Analytics and reporting on referral program performance.
Referral Rock’s analytics and reporting provides you with valuable insights into the effectiveness of their referral campaigns, allowing you to identify which strategies and tactics are working well and which need to be improved.
