Referral Marketing is one of the newer methods of advertising a product which many companies have adapted for smarter advertisements. In previous years, it has been observed that 'Word of mouth' marketing strategies have been effective in making a content go viral, and they continues to do so. In such marketing, instead of going for traditional advertisement, Companies let their customers do the talking, and reward them for referrals. Referral marketing thus ensures greater marketing reach with lesser costs.
Referral Marketing is initiated by a business, and is meant to promote the products offered by the business. This also means that the business needs to track and regulate the referrals, which can be seamlessly handled by Referral Tracking Software. Referral Tracking Tools can be used by businesses ranging from SMEs to large corporations, and hence these software are in demand these days. Since these tools are meant for different business including retail stores, banks, restaurants and others, it is often problematic to choose which is the best suited tool for you. So here we compare 5 best Referral Tracking Software, to help you make the right choice.
Best Referral Marketing Tools
Referral Factory is a software for businesses to run and track referral programs so the customers can be efficient in buying products and attract even more customers. It helps you turn your loyal customers into marketing assets, and increase your reach. Referral Factory offers flexibility in rewards, which you can regulate, while also offering several different referral templates to choose from, which help you go through with marketing strategy even if you are completely alien to it.
Features Offered by Referral Factory
- Referral Factory offers you a collection of over 1000 templates of different referral programs to work with and choose the one that works for you.
- Customers like nothing more than a reward. Set flexible milestones, and reward your customers accordingly, so you can get the best out of them.
- Referral Factory offers you custom built-in notifications. Brand them as you like, and keep your customers in loop with regular notifications.
- You can efficiently manage referrals by manually adding them or giving them referral links or QR codes.
- Track your referral program in real-time and recognize your top referrers. With the help of an intuitive dashboard, you can also integrate with google sheets to manage this data.
Pricing for Referral Factory
|Starter Plan||Basic Plan||Enterprise Plan|
|Costs €75 per month||Costs €150 per month||This plan offers custom pricing and needs the user to contact sales|
|All the basic referral program utilities with over 1000 referral templates||All features in Starter plan without Referral Factory branding||Allows for unlimited users and customizable front end|
|Allows you to build landing pages and templates with certain terms and conditions||Allows you to add buttons, links, and webhook integrations||Enterprise plan offers you a dedicated account manager along with advanced security features|
|Allows for up to 7500 users with basic reporting||Allows for up to 15000 users with advanced reporting tools||This plan offers custom reporting as well as reporting tools|
Referral Rock is a referral tracking software that aims to ease customer tasks. Be it removal of roadblocks to enhance referrals, or to level up customer acquisition, Referral Rock has proven its worth and served over 1000 customer. Customer Referral programs give your customers a reason to invest more time in marketing for you, while your new customers are also influenced a great deal by the rewards. You also get to integrate the software with your existing system, for better productivity and management.
Features Offered by Referral Rock
- Referral Rock system offers an easy onboarding and referral program with widgets, registration pages, and Google/Facebook signups.
- It offers customers an enhanced engagement, offering them statistical insights, real-time activity notifications, and help them carry out email marketing campaigns.
- Personalize the advertise and tailor the images and messages you share according to customer needs and expectations with landing pages and more.
- Give away rewards and incentives upon reaching milestones and regulate the reward flow so it benefits, both the customer and the seller.
- Analytics and Suggestions help you make sure you're making the best business choices. Also target your friends and potential customers with a professional referral marketing team.
Pricing for Referral Rock
|Starter Plan to set up and run a Referral Program||Growth Plan to run multiple Referral Programs with advanced features||Established Business Plan to scale your referral programs with branding and integrations|
|Costs $200 per month||Costs $400 per month||Costs $800 per month|
|Allows for 500 member with 1 referral program||Allows for 5000 users and lets you run up to 3 programs||Allows for 10000 users and lets you run up to 5 programs|
|Lets you manage unlimited referrals with standard rewards||Lets you manage unlimited referrals with advanced rewards||Lets you manage unlimited referrals with advanced rewards|
|Standard integrations with dedicated success manager||Advanced integrations with dedicated success manager||Premium and advanced integrations with dedicated success manager|
Referral Hero offers you a referral program as an acquisition channel. It offers a two week course on how to build and sustain a referral program, and multiply and expand your business in a matter of months. With custom widgets, social sharing, automation, and analytics, Referral Hero might just be the platform for you to take your business to a higher level and scale seamlessly, with customers bringing in more customers.
Features Offered by Referral Hero
- Use custom widgets free of backlinks, along with custom design, branding, referral links, and social sharing.
- Referral Hero offers users automated behavior triggered emails, and helps segment users based on their activity to have a more organized user experience.
- Review and confirm referrals with a smart leaderboard, and manage access codes distribution without much haste.
- Powerful analytics helps you identify your top ambassadors and reward them likewise. Also seamlessly track attribution and sharing channels with Referral Hero.
- Individual Analysis also allows you to view and assess the activity of each subscriber, and export data in a csv file.
Pricing for Referral Hero
|Basic Plan for upto 2500 users||Pro Plan for upto 15000 users||Premium Plan for upto 50000 users|
|Costs $49 per month||Costs $99 per month||Costs $199 per month|
|Offers personal branding with analytics||Offers all features in Basic plan and more||Offers all features in Pro plan and more|
|Offers various integrations such as MailChimp, Intercom, and Shopify with FB Pixel Integration||Offers users unlimited campaigns with memorable referral links and email automation||Offers the use of webhooks with ReCpatcha tool|
|Offers users an anti fraud algorithm with coupon codes||Allows for custom sender domain with API access and use of webhooks||Premium plan offers user SMS verification and priority support|
Invite Referrals is one of the simple and easy to integrate Referral program software, that helps you grow your business. From sharing, registrations, sales, to conversion, Invite Referrals gives you the best referral strategy and implementation methods to scale your business. While it works with multiple platforms, Invite Referrals also offers you analysis tools, custom campaigns, social sharing options and reward flow.
Features Offered by Invite Referrals
- Works across different platforms with adaptable widgets, and offers in depth analysis with real-time referral program tracking.
- Invite Referrals Editor allows you to run custom campaigns without having to code to create widgets and emails.
- Invite Referrals also allows you to create and manage multiple rewards for achieving milestones, and allows you to export campaign data.
- With a plethora of social sharing options, Invite Referrals allows you to import email, along with social media platforms and custom invitation messages.
Pricing for Invite Referrals
|Basic Plan||Standard Plan||Enterprise Plan|
|Costs $79 per month when billed annually and $99 per month when billed monthly||Costs $199 per month when billed annually and $249 per month when billed monthly||Enterprise plan offers custom pricing and you need to contact sales|
|Offers you up to 1000 new referrers per month||Offers you up to 3000 new referrers per month||Offers greater number of referrers and campaigns according to the custom pricing|
|Offers 3 campaigns with account access of 1 member||Offers 6 campaigns with account access of 5 member||Offers account access of 10 members with email and skype customer support|
|Email support with a response time of 24 hours||Email support with a response time of 16 hours with a personalized program||Personalized program with a dedicated account manager and custom developments|
InviteBox helps you reach new customers with a social referral program. It offers a simple process of initiating and running your referral program by pasting a snippet code of a widget on your website, and InviteBox interface takes care of the rest. You can come up with your own reward idea of your referral program, and have appropriate incentives for your loyal customers, in turn, helping you grow.
Features Offered by InviteBox
- Arrange proper and incentives for your customers to make your referral program run better with advanced technical assistance.
- Referral ideas for E-commerce stores such as coupon give away, as well as for that of SaaS, including unlocking of advanced features and more.
- InviteBox also helps you if you are an individual, such as a blogger or a musician, with poll results, music tracks, rewards and more.
- InviteBox also offers different reward programs for your customers such as instant rewards and goal based rewards.
- InviteBox gives its users the best experience with social media integrations, advanced and actionable analytics, and more.
Pricing for InviteBox
InviteBox offers its users with three different pricing options, them being, Startup Plan, Small Business Plan, and Unlimited Plan. The Startup Plan offers up to 100 campaigns per month and comes at a cost of $29 per month, while the Small Business Plan costs $59 per month and allows for 1000 campaigns per month. The Unlimited Plan as the name suggests, offers unlimited campaigns per month and costs $199 per month.
What is referral marketing?
Referral Marketing is one of the newer methods of advertising a product which many companies have adapted for smarter advertisements.
How do you market a referral program?
Some other methods you can use to market your referral program include 1. Promote your referral program with email marketing 2. Share your customer reviews 3. Make sure you have social share buttons 4. Include your referral program on the homepage of your website as well as a dedicated landing page 5. Include in your customer accounts
How to Create a Customer Referral Program?
- Set your goals
- Research how referrals are coming to your business
- Determine what a 'good fit' is for your company
- List possible customer referral sources
- Identify channels to host your referral program
- Make a plan to reach out
- Identify your referral incentives
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