Client referral programs are the result of strong relationships, a simple and easy advocate experience, with clear communication about it’s reward program benefits.
Extole has an enterprise platform to help guide you through the maze that is client referral programs and the referral funnel. The referral funnel is the steps involved from initial introduction to a product or service, all the way to getting the sale.
when considering building client referral programs, some information to consider is:
- Advocacy rate – Your advocacy rate is the percent of people who share when presented with the opportunity to do so
- How to improve your advocacy rate – A seamless referral experience that is easy to use and is beautiful
- Share rate – Average number of unique shares per advocate
- Friend click through rate – The percentage of friends who click per share
The beauty of the referral is that it doesn’t stop with conversion. Your client referral program funnel turns out to look more like a flywheel.