3 MISTAKES WHEN SETTING UP B2B REFERRALS—AND HOW TO AVOID THEM

Summary from the TLDR Marketing newsletter

Referrals aren't something you just slap onto your product. Most B2B companies fail at implementing financially incentivized referrals because they're more expensive than in B2C. The incentive needs to be meaningful enough to justify the customer's “relational capital” and align with your LTV:CAC. Building an organic word-of-mouth loop using methods like NPS surveys, onboarding responses, or social shoutouts before launching a referral program is essential.