Referral Marketing

« Back to Glossary Index

Referral marketing is a strategy in which businesses encourage their customers, clients, or users to refer new customers to their products or services. It harnesses the power of word-of-mouth recommendations and personal connections to acquire new customers. Referral marketing often involves incentives or rewards for both the existing customer who refers and the new customer who is referred, creating a win-win scenario for all parties involved.

Referral marketing taps into the power of personal recommendations and word-of-mouth to acquire new customers and build a loyal community. By encouraging satisfied customers to refer their friends, family, or colleagues, businesses can enjoy the benefits of trusted advocacy and efficient customer acquisition. Successful referral marketing programs require thoughtful incentives, clear communication, and ongoing optimization to create a mutually beneficial cycle of referrals and growth.

« Back to Glossary Index

DealSignal

DealSignal provides fresh, accurate, verified B2B data that helps sales & marketing teams maximize their efficiency and performance and drive more revenue.

You may also like

Resources

B2B Contact Quantity Calculator

Determine the number of contacts you’ll need for sales outreach and/or marketing campaigns. More importantly, see how data quality will impact your performance and total data acquisition cost.

Read More »