Article
B2B Referral Program KPIs (2023) - Cello.so
cello.so
Quoted on this wiki
Every place a page here uses this source, in the order the words come in it.
How to improve the activation rate “Additionally, embedding programs at various touchpoints and enabling contextual sharing, especially during proud user moments or when receiving high Net Promoter Scores (NPS>8), can further boost discoverability.” Sharing rate
Introduction “Reliable data is often scarce when it comes to benchmarking and comparing referral programs to other acquisition channels.” At the same time, many companies are leaving money on the table by not realising the full potential user referrals could have for their acquisition strategy. Making informed decisions requires the right metrics and reliable benchmarks to understand what's possible.
Introduction “In-depth data for B2B referral program KPIs, especially in the B2B SaaS industry, is lacking.” At the same time, many companies are leaving money on the table by not realising the full potential user referrals could have for their acquisition strategy. Making informed decisions requires the right metrics and reliable benchmarks to understand what's possible.
Input metrics These "on the ground" metrics are actionable, and you should look at them to understand how you can improve your program performance. They should point to specific actions to optimize the overall performance. The best input metrics are predictive of later outcomes. “They directly link to your annual recurring revenue (ARR) referral to predict future growth.” Input metrics
Setup time Launching a high-performing program doesn't need to take long. Programs no longer need to be self-built as out-of-the-box solutions exist for going from idea to product quickly. tl;dv, an AI-powered meeting recorder, integrated and launched its user referrals within a few days, growing the channel to a sustained 550 monthly high-quality sign-ups soon after. “Referrals are usually perceived as costly as you are usually incentivizing both users who refer others and invited users, usually through discounts.” Scaling Referral programs are sometimes seen as one-off campaigns instead of what they can be: highly scalable acquisition channels. The key to scaling is to build user habits around referring other users. This can be achieved by turning referrers into brand advocates who get rewarded for their ongoing influence over a longer period of time. Higher ACV of B2B products allows for spreading rewards across a long period as a percentage of monthly subscription payments, creating a powerful reminder to share with more users.