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Choosing the right referral tracking software for your business

These days, brands are opting for referral marketing strategies to reach more customers, increase engagement rate and build trust. As a result of which, referral software has been gaining popularity for businesses as it helps to promote brand awareness.

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But you’ll get numerous referral-tracking software with different features and applications in the market. Are you confused about the selection of the right referral software for your business?

If yes then go ahead and read this guide. In this guide, you will get to know how to find suitable software and some of the effective referral tracking software available in the market:

A business needs long-lasting customers so that it can flourish the business. This is why most brands choose referral marketing programs that are suitable for building long customer relationships. Those customers who participate in this kind of program stay longer with the brand.

If a brand is thinking then the cost of searching for new customers would be low than the referral programs then it’s wrong. Referral programs not only help in getting offers & incentives but also increase the customer retention rate. This sort of referral program is better for retaining existing customers and creating a sense of reliability in the new customers.

Referral marketing programs help a brand to find out customers that can speak on your behalf for your products and services. With this, your brand gets the perfect opportunity to promote your business. Let us see how referral marketing can create a channel for customer engagement.

Referral incentives given to existing customers will make them promote your brand through their genuine recommendations. In marketing, genuine reviews and recommendations work like magic. This way, it becomes easy to engage the number of customers on your social media page and website.

What is referral marketing and what are its benefits?

Referral marketing is a powerful method of promoting products or services from existing customers to new customers through referrals. As the name implies, this type of marketing involves the process where one person is referring to a product or service, and the brand rewards new customers for joining them.

  • This sort of marketing is cost-effective as the brand has to spend only money on actual conversions.
  •  Increases the customer base as most people believe in recommendations and reviews.
  • Recommendations from the customer are the most trusted form of marketing. That’s why referral marketing helps in building the trust of the customers.

Selection of the right referral tracking software

In the market, you’ll get numerous referral-tracking tools and software options that might confuse you. If you are in confusion about the selection of the right software then here are the factors that you need to consider:

Analyze the software

If the main aim of your brand is to optimize your partner program, then it is crucial to understand the detailed features of the available software. The software that you’re choosing must make it easy for your team to track the results, compare data and get better insights.

Is Customer service available 24 hours?

No doubt, the referral program software keeps changing constantly. So, the software you are choosing must have customer service that can guide you about the changes and help you run it smoothly. If the referral tracking software provides customer assistance, then you can choose it as your best referral marketing tool.

Cost of the software

For any business, it is very crucial to know how much the referral program will cost them. Look if there are any hidden fees or not while choosing the referral package. Make sure to read all terms and conditions of the referral tracking software before making any decision as it can help in saving a lot.

Look for automatic referral tracking

It is always better to choose referral program software that can track referrals automatically. This sort of referral software doesn’t require much effort and time from the users. If the software doesn’t offer your automated tracking, then this is going to be time-consuming for you.

5 effective Referral Tracking Software

When it comes to choosing referral tracking software, look for that software that ensures effective results and better ROI. So, here is a few referrals tracking software that can be suitable for your business:

Referral Factory

In the market, a referral factory is one of the crucial software that makes it easy to set up a referral program. With this software, you get more than 1000 program templates that make the program easy.

Some of the vital features of this software are CSV exporting, automatic communication with referrals & invites, and reward options. Another good thing about this software is that there’s no need for the installation of any tracking scripts on your website.

Affise

Affise is surely a robust referral marketing solution that is suitable for businesses. After using this, you can do a lot of things such as managing referrals, optimizing referral marketing, and tracking marketing’s results. Affise also ensures that your referral program launching is easy, simple, and quick.

One of the crucial things is that this software is completely customizable so that it can meet the brand’s exact requirements and styles. It also ensures easy and convenient communication systems for the customers and brand representatives.

Referral Rock

If we are talking about referral-tracking software tools then Referral Rock needs to be included in the list. This software is specially designed to help brands they can put referral programs on autopilot mode. To get maximum customer engagement, Referral Rock will also help in creating personalized referral programs for the brands.

By using this software, you get personalized onboarding because of which there will be no need for complicated integrations. Here, you will get rewards options that include custom rewards, coupons, gift cards, and so on.

Genius Referrals

If it is for a small business then Genius Referrals can be the best referral program software. It lets the brand set up its referral program with ease. This software comes with a comprehensive dashboard that provides real-time analytics so that you can track the marketing results.

In addition to this, there will be automatic payouts option that will be connected with different methods such as Paypal and Shopify. Also, the referral software is suitable for generating custom links and promo codes.

Extole

Here is vital referral marketing software that comes with several pre-built referral templates. These templates are good for mobile devices and apps as they can help in making visual editing of the designs.

With Extole, you get an automated reward engine for gift cards, coupons, international rewards, and loyalty points. The good thing about this software is that it can integrate with all platforms and devices as per the requirements. If using Extole then you will get the benefit of automatic discovery for the influencers, networks, and brand advocates.

To sum up

With the above, you’ll get to know what factors need to keep in mind while choosing the most suitable referral-tracking software. Also, you can see some of the effective and best software that is in use these days.

Source: www.webwers.com

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