HOW TO BOOST YOUR SALES WITH A 7-STEP REFERRAL MARKETING PLAN

Summary from the TLDR Marketing newsletter

The 7 steps in building out a referral program include calculating the cost of acquisition (CAC), defining successful referrals, choosing rewards, defining the reward structure, and tracking progress. This post breaks down common structures for referral rewards including double-sided vs. single-sided campaigns, tiered rewards, and commission-based rewards. It also highlights key metrics to measure including the participation rate, referral rate, and ROI.