Referral marketing is a marketing strategy that utilises word-of-mouth recommendations to drive customer acquisition and growth. It works by leveraging the inherent credibility and trust that people have in the recommendations of their friends, family, and peers.

Here are some statistics that demonstrate the effectiveness of referral marketing:

92% of consumers trust recommendations from friends and family more than any other form of advertising.

81% of consumers are more likely to make a purchase based on a recommendation from a friend or family member.

65% of new customers acquired through referrals are likely to become repeat customers.

The average customer acquired through a referral program is worth 16% more than a customer acquired through other channels.

We have looked at a selection of tools here to give you an idea of some of the referral marketing software now available.

Referral factory 

Referral Factory is a powerful and easy-to-use referral marketing software tool that helps businesses get more referred customers.

With Referral Factory, you can create a custom referral program in under 5 minutes using one of their 1000+ pre-built templates. You don't need any coding skills or developer help to get started.

Here are some of the key benefits of using Referral Factory:

Save time and effort

Increase customer acquisition and retention

Boost brand awareness and customer engagement

Complete control over your referral program

Referral Factory's built-in page builder makes it easy to create custom referral pages that match your branding. You can also track and monitor all the users in your referral program from your client dashboard.

The platform offers a flexible reward structure, so you can offer your customers anything as a reward for referring their friends and family. You'll have complete control over how and when you reward your customers.

Overall, Referral Factory is a great option for businesses of all sizes who are looking to create a successful referral marketing program.

Refersion

Refersion is a marketing tool that helps eCommerce businesses grow sales through referrals, affiliates, and influencers. It connects easily with popular eCommerce platforms.

Once you have integrated Refersion with your eCommerce platform, you can add your existing affiliates and influencers to the platform. Refersion also includes a marketplace where you can publish offers to potential affiliates and influencers. Offers can be structured in a variety of ways, including flat rate commissions, tiered payment schemes, and conversion-based rewards.

Refersion's reporting function is focused on sales, and you can view data from a variety of angles. You can also request customized reports from the Refersion team.

Here are some of the key benefits of using Refersion:

Easy to integrate with eCommerce platforms

Flexible offer structure

Conversion-based rewards

Comprehensive reporting

Overall, Refersion is a great option for businesses of all sizes who are looking for a powerful and flexible referral marketing tool.

Crewfire 

CrewFire is a SaaS platform that helps brands generate buzz and drive revenue through ambassador and influencer marketing. It goes beyond affiliate marketing to provide a comprehensive solution for hosting ambassador programs, rewarding ambassadors for their contributions, and fostering a thriving ambassador community.

One of CrewFire's primary services is referrals and word-of-mouth marketing. CrewFire provides brands with the tools they need to create and manage ambassador programs, generate referral links, and track results. CrewFire also offers a variety of other features to help brands engage their ambassadors and make their programs more successful, such as:

Exclusive discount codes and referral links for ambassadors

Customizable incentives and rewards

Real-time earnings tracking and payouts

A reward shop where ambassadors can redeem points for rewards

A customizable incentives feature that allows brands to tailor their programs to the specific needs and motivations of their ambassadors

CrewFire is a great option for brands of all sizes who are looking to leverage the power of ambassador marketing to grow their businesses.

Friendbuy 

Friendbuy is a referral marketing platform that helps businesses launch and optimize their referral programs quickly and easily.

This software tool provides lightweight code snippets to make it easy to get your program up and running quickly. The platform also offers mobile-friendly widget templates that are designed to encourage sharing.

It can automate the fulfillment of any reward type, including coupon codes, account credit, loyalty points, and gift cards. The platform uses robust algorithms to detect fraud and ensure that only eligible purchases are rewarded.

The platform also makes it easy to optimize your referral program with A/B testing. You can experiment with different offers, creative, and messaging to see what drives the most sharing and conversions. Friendbuy also provides easy-to-use reporting tools so you can track your results and identify areas for improvement.

In addition to its automated features, Friendbuy also offers the flexibility to design custom communications and trigger events based on customer behavior. This allows you to send targeted messages to your customers and prospects that are more likely to drive engagement and conversions.

Overall, Friendbuy is a powerful referral marketing platform that can help businesses of all sizes launch and optimize successful referral programs.

Invite referrals 

InviteReferrals is a powerful but easy-to-use referral marketing platform that helps businesses grow and acquire new customers. It integrates with multiple eCommerce platforms, including WooCommerce, Shopify, Magento, and MailChimp, and works across all devices and platforms.

With InviteReferrals, customers can use the mobile app to invite their friends to your referral program. When friends accept the invite and install the app, InviteReferrals sends coupons to the referrer for driving a referral install.

The platform provides detailed analytics on your referral program, including invites filtered by referral channels. They track every step of the program, from shares to clicks to successful referral conversions (registrations, sales). This helps you identify your most influential referrers and track data to the individual customer level.

All InviteReferrals campaigns are WYSIWYG, meaning you can design the entire campaign without any coding or design experience.

Mention me 

Mention Me provides a refer-a-friend platform tailored to your brand. It uniquely captures word of mouth sharing. 

You can A/B test by cohort, testing all elements of your campaigns, typically resulting in an uplift of 3-7x during the first six months. The Mention Me platform offers “Name Sharing” to capture real-world conversations. Friends can access discounts just by entering the name of the friend who referred them.

Mention Me delivers rewards to new customers and the friend who introduced them. You have control over every element of your campaign and can see real-time results in your referral dashboard.

Genius Referrals

The Genius Referrals platform makes it easy to create and manage a referral program in seven steps:

Sign up and create a program in minutes. This involves configuring the program to match your brand and business goals. You can create multiple referral campaigns with different restrictions and tiers, and choose and design templates using the Genius Referrals design center.

Define the default content for social media. Use the wizard to create widget packages that will be published on social media to promote your referral program.

Choose and design the perfect template. Genius Referrals provides a variety of templates to choose from, depending on the type of referral program you are running.

Install the referral program on your website. Use the code snippets generated in the design center to install the referral program template.

Notify your customers and prospects. Send emails and social media posts to let your customers and prospects know about your referral program.

Monitor, manage, and optimize your programs. Genius Referrals provides tools to help you analyze and tweak your referral marketing program to improve its performance.

Ambassador 

Ambassador is an all-in-one referral marketing platform that allows you to manage referral, affiliate, partner, influencer, and advocate programs from a single place. All of these types of marketing follow a similar pattern:

Identify your ambassadors. This could include customers, affiliates, influencers, partners, employees, and others.

Enroll your ambassadors in targeted and personalized referral campaigns.

Track your ambassadors and monitor their key performance indicators (KPIs).

Reward your ambassadors with customized incentives and automate the reward process.

Ambassador offers multiple referral marketing opportunities. You can tailor specific referral programs based on customer type, deliver unique rewards and messaging, and track and analyze every segment and all activities. Ambassador also provides out-of-the-box eCommerce, CRM, and billing integrations, as well as JavaScript and Open API integrations.

Referral rock 

Referral Rock is a referral program software that helps businesses automate word-of-mouth marketing. It allows you to customize the look and feel of your referral program to match your brand and customer experience, and provides your advocates and referrals with a seamless experience that encourages theReferral Rock is a comprehensive referral marketing solution that empowers you to create and manage a successful referral program tailored to your specific business needs. With its versatile features, Referral Rock enables you to:

Personalize Your Program: Craft a referral program that aligns with your brand identity and resonates with your target audience. 

Seamless Integration: Integrate Referral Rock seamlessly into your customer interactions and marketing channels, providing a cohesive experience across all touchpoints. 

Dedicated Advocate Portal: Empower your advocates with a dedicated portal where they can easily track their referral progress, access pre-drafted messaging, and generate personalized referral codes or links. 

Multiple Joining Options: Provide your advocates with multiple convenient ways to join and participate in your referral program. 

Diverse Sharing Mechanisms: Equip your advocates with a variety of channels to share your referral program with their networks..

Referral SaaSquatch

Referral SaaSquatch is a marketer-driven platform that helps digital businesses acquire customers and increase lifetime value through referrals, special offers, and incentives. It offers a variety of features, including:

Multi-program and multi-campaign functionality

Tiered and purchase-based programs

Success coaching and engineering support

An observational engagement engine for creating stunning widgets and customizable program rules

The ability to track a wide variety of user behaviour, including purchases, in-app actions, and custom objects or events

Conversion triggers for running referral and loyalty programs that reward users for actions such as app install and first purchase

Automatic issuance of most reward types, the ability to build custom rewards, and management of all incentives and rewards

Referral SaaSquatch is a reliable referral marketing software tool because it has award-winning customer service, reliable tech systems, and a robust set of features that allow marketers to create and manage effective referral programs.

Revetize

Revetize is a referral marketing software platform that helps businesses generate leads, improve customer communication, and manage their reputations. It is a one-stop shop for all things referral marketing, allowing businesses to leverage their happy customers to quickly acquire referrals, reviews, and repeat business.

Revetize also helps businesses send personalized, targeted business texts and generate leads automatically. All of a business's marketing efforts are organized into one place, making it easy to track and optimize campaigns.

What makes Revetize different from other referral marketing tools is its focus on helping businesses build relationships with their customers. It allows businesses to quickly generate hundreds of online reviews from authentic customers, create and distribute promotions that are relevant to each customer, and even send personalized messages to a mass list of customers.

Overall, Revetize is a powerful referral marketing platform that can help businesses of all sizes grow their businesses and improve their customer relationships.

Yotpo

Yotpo is a leading eCommerce marketing platform that offers a comprehensive suite of tools for businesses to grow and succeed. It is one of the most advanced solutions for customer reviews, visual marketing, referrals, SMS marketing, and more. Companies like Google and Shopify use Yotpo to accelerate growth and achieve their digital marketing goals.

Yotpo integrates seamlessly with your existing marketing stack and provides a variety of benefits, including:

Increased sales

Improved search engine and social media visibility

Scalable customer feedback collection and analysis

Improved buyer journey

Yotpo offers a variety of plans to fit businesses of all sizes, including a free plan for businesses just starting out. The Premium plan provides businesses with custom monthly orders, multi-channel content generation, advanced content management, and more.

TapMango

TapMango is the most comprehensive and feature-rich customer loyalty and online delivery platform on the market. It gives businesses all the tools and resources they need to build and run a successful loyalty program.

TapMango includes amazing features like a comprehensive marketing portal, a customer-facing tablet, a branded mobile app, and branded key tags that double as gift cards.

The tool's fully automated POS integration lets businesses convert sales transactions into loyal customers. TapMango integrates with major POS systems including Toast, Lightspeed, and Square.

TapMango is a fantastic referral marketing software program to invest in because it can help businesses encourage customers to refer their friends and family, collect customer feedback and referrals, and send push notifications with exclusive offers and discounts for referring friends and family.

Overall, TapMango is a powerful customer loyalty and online delivery platform that can help businesses of all sizes grow their business and improve their customer relationships.

Talkable

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Talkable is a referral and loyalty marketing platform that helps eCommerce brands acquire and manage high-value customers at a low cost, increase retention, and grow revenue.

Talkable integrates with any platform and provides a team of growth experts with 9 years of eCommerce industry expertise. Talkable helps businesses understand their target market and what makes them tick through customer insights. It also helps businesses grow through A/B testing and ongoing campaign optimization.

The platform is a great resource for eCommerce brands looking to invest in a referral and loyalty marketing program.

ReferralMagic

ReferralMagic is a referral tracking software that helps brands and businesses turn their users and customers into referral magnets.

It makes it easy to integrate referral tracking into your website and build the right referral program for your SaaS. You can also rebrand and resell ReferralMagic to your clients, and customize it based on your specific business needs.

ReferralMagic stands out from other marketing software tools because it:

Leverages your existing customer base

Tracks all kinds of traffic through your site

Is completely customizable

Is cost-efficient

Is customer-centric

Is dedicated to your specific goals

Hello Referrals

Hello Referrals is a web-based referral tracking software that helps businesses and organizations of all sizes send, receive, and track referrals and sales leads. It provides tracking and reporting tools, a centralized communication hub, and the ability to organize trusted partners.

Hello Referrals is used by a wide range of groups, including chambers of commerce, Rotary clubs, small business associations, trade associations, business networking groups, and even groups of friends.

With Hello Referrals, businesses can:

Send and receive referrals and word-of-mouth leads

Track referrals and manage leads

Communicate with their referral group

Stage meet-ups and create events

Hello Referrals offers three pricing tiers, ranging from $49 to $99 per month, based on the number of members in the group.