Tags Archivesreferral

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In today’s mail and email, I received offers for miles, rewards, points, a billing credit and a free ride. All I had to do was refer a friend or family member. Oh, and enter a code and have them enter a tracking code. Of course I recognize that referral programs are incredibly efficient (thanks Dropbox) and have a low cost per acquisition. A study was conducted by the Goethe University Frankfurt and the University of Pennsylvania on referral programs and customer value which followed the customer referral program of a German bank. That bank paid customers 25 euros for bringing in a new customer. The study found that referred customers were both more profitable and loyal than other customers. Referred ...

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