Referred customers are one of the best customers to acquire and make part of the family. They spend more and stick around longer. They’re just overall more profitable, sporting characteristics such as:
- 20% higher AOV’s
- 25% higher lifetime values
- 25% more profitable overall
Simply put, customers that come to brands through their referral website are of much higher quality. And to top it off, referred customers are more likely to become advocates, increasing the scale and effectiveness of the referral program overall. It’s why many referral programs have the potential of driving a high level of virality, resulting in more conversions, and more revenue.
Once your referral website begins to scale, it can be optimized along the way so marketers can get the most value from each and every advocate, share, and conversion.
After running hundreds of referral programs, we’ve gained many statistics and metrics at Extole. This infographic shows just a few of the benefits of referred customers.