- 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.
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