Measure & Optimize Performance

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Email campaigns

Social media posts

Website banners and pop-ups

In-store signage

Paid ads targeting existing customers

5.
Tracking referral metrics helps businesses improve shop their strategy over time. Key performance indicators include:

Referral conversion rates

Customer acquisition cost (CAC) from referrals

Engagement levels (who shares most often)

Lifetime value (LTV) of referred customers

Regular analysis allows businesses to refine their referral program for better results.

Successful Referral Marketing Case Studies
Dropbox
Dropbox's referral campaign offered free storage space for both referrers and new sign-ups, leading to a 60% increase in registrations.