Referral Tracking is a method that businesses use to monitor and analyze the activity and outcomes of customer or partner referrals.
It involves:
- Recording referral actions (such as clicks, sign-ups, or purchases initiated via shared links or codes)
- Associating referrals with specific individuals or campaigns
- Measuring the effectiveness of referrals in driving desired outcomes, like conversions or revenue
Businesses utilize referral tracking to encourage word-of-mouth marketing and reward referrers for promoting their products or services. For example, a company might provide a unique tracking link to a partner who has referred a friend, allowing both the referrer and the new customer to receive discounts or benefits.
Referral tracking is vital because it not only helps identify successful referral strategies but also fosters customer acquisition, increases engagement, and creates opportunities for scalable growth through efficient advocacy programs.
Data Driven Decisions for Effective Future Planning
Case Study
Automotive: Cross-incentive consolidation empowers program success
A large vehicle manufacturer were looking to consolidate their dealer Co-Op/MDF, Rebates and SPIFFs incentives and work together to influence dealer channel behavior.
By accumulating incentives into one branded platform, enabled the manufacturer to have clearer visibility of claim submissions, engagement and activity reporting, through the analytics.
Learn how 360insights helps this manufacturer understand how measuring the data provides a better attribution of direct program ROI.