Loot Crate, a “geek subscription box” company, was recently ranked #1 on the Inc. 5000 as the nation’s fastest-growing private company — and the company credits it all to referral programs. Dropbox similarly grew, from 100,000 to 4,000,000 users in just 15 months, due to the success of its referral program. And Paypal used referral programs to jump from 7% to 10% daily growth.
There’s no question that referral programs have the power to expand a business’s reach exponentially. Take a look at some of the numbers below to see why your business could benefit from creating a referral program, and read more about how to implement one here: