20 Referral Marketing Stats To Shake Up Your Strategy

20 Referral Marketing Stats to Shake Up Your Strategy

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

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  1. 92% of customers trust referrals from people they know.
  2. People are 4x more likely to buy when referred by a friend.
  3. 85% of fans of brands on Facebook recommend brands to others.
  4. Customers trust on word-of-mouth 2X to 10X more than paid media.
  5. Word-of-mouth has been shown to improve marketing effectiveness by up to 54%.
  6. 55% of customers share their purchases on social sites like Facebook, Twitter, Pinterest and other.
  7. 71% of customers are making a purchase based on social media referrals.
  8. Word-of-mouth is the major factor behind 20% to 50% of all buying decisions.
  9. Referred customers have an 18% lower mix than customers acquired from other resources.
  10. You can assume at least 16% more in profits from referred customers.
  11. When a CTA appears on your post-purchase page, customers are 16X more likely to share.
  12. The Lifetime Value for new referral customer is 16% higher than non-referrals.
  13. 92% of respondents trusted referrals from people they knew.
  14. Social media drove 31% of overall traffic to sites.
  15. 84% of B2B decision makers start the buying process with a referral.
  16. Only 30% of companies surveyed have a formalized referral program.
  17. Every referring customer makes an average of 2.68 invites.
  18. 14% of customers who visit a referral page take an action.
  19. Only 10% of companies have tasked marketing with managing the referral program.
  20. When referral tools are used, companies are 3X more likely to accelerate referral generation and conversion.
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