Sales representatives, demand generation managers and marketers all agree that the very best source of highly qualified leads come from referrals. A recent study conducted by Demand Metric and sponsored by RewardStream found that 88% of study participants agree or strongly agree that referral marketing is effective. The same study found that 71% of study participants rate referral marketing as one of the lowest in terms of cost per new customer acquisition.
Despite its effectiveness, however, referral marketing is an under-used tool. This comprehensive report brings together the findings of the aforementioned study to enable improved referral marketing strategies. It is aimed at marketers who want to leverage referral marketing in order maximize success using evidence-based research. Specifically, this report provides an overview of:
- The state of referral marketing
- Methods to acquiring new customers
- Referral marketing challenges
- Barriers to program implementation, and
- Key recommendations around referral marketing best practices
Download your complimentary copy of the report, “Referral Marketing: Identifying Current Strategies & Programs for Success” here.