To model ROI for any program, you need to identify the key performance indicators. There are standard KPI milestones and industry averages you can use to construct a model for a referral program, which this white paper will walk you through:
Participation Rate
Referral Rate
Impression Rate
Response Rate
Conversion Rate
A special note of interest is that of all the levers you can pull, our opinion is that boosting the number of referrals per customer is not the most....