20 Referral Marketing Stats To Shake Up Your Strategy

By DSIM Team / 18/08/2017

Last updated on August 17th, 2022 at 04:20 pm

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92% of customers trust referrals from people they know.
People are 4x more likely to buy when referred by a friend.
85% of fans of brands on Facebook recommend brands to others.
Customers trust on word-of-mouth 2X to 10X more than paid media.
Word-of-mouth has been shown to improve marketing effectiveness by up to 54%.
55% of customers share their purchases on social sites like Facebook, Twitter, Pinterest and other.
71% of customers are making a purchase based on social media referrals.
Word-of-mouth is the major factor behind 20% to 50% of all buying decisions.
Referred customers have an 18% lower mix than customers acquired from other resources.
You can assume at least 16% more in profits from referred customers.
When a CTA appears on your post-purchase page, customers are 16X more likely to share.
The Lifetime Value for new referral customer is 16% higher than non-referrals.
92% of respondents trusted referrals from people they knew.
Social media drove 31% of overall traffic to sites.
84% of B2B decision makers start the buying process with a referral.
Only 30% of companies surveyed have a formalized referral program.
Every referring customer makes an average of 2.68 invites.
14% of customers who visit a referral page take an action.
Only 10% of companies have tasked marketing with managing the referral program.
When referral tools are used, companies are 3X more likely to accelerate referral generation and conversion.

20 Referral Marketing Stats to Shake Up Your Strategy