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Creating a referral program

Hey peeps, I'm selling employee engagement software and want to leverage the existing clients to get them to refer us to new prospects.


What kind of referral program has worked for you?

What referral program works best in your experience?
Attached poll
*Voting in this poll no longer yields commission.
๐Ÿ‘‘ Sales Strategy
12
SA
SADNES5
Politicker
+6
Business Development
Let your product do the work. Just ask, if this has worked out for you, let your peers in the industry know.ย 
Ace
Arsonist
+9
CEO
Yes, working on it. I am also thinking of doing some basic PR to get the name going
Salespreuner
Big Shot
+11
Regional Sales Director
Up for this one๐Ÿ‘
Salespreuner
Big Shot
+11
Regional Sales Director
I'd be keen to know more on your selling software

I'd be soon moving to sell an AI driven solution for employee engagement and query resolution to help improve TAT from HR
If that's something you sell too,would love to have a discussion with you as a learning curve


Let's have a good convoโœŒ๏ธ
Ace
Arsonist
+9
CEO
That'd be awesome to knowledge share. Just sent you a mail
Salespreuner
Big Shot
+11
Regional Sales Director
Sure
Show 2 more replies
Lambda
Politicker
+6
Sales Consultant
Referral programs tend to take care of themselves if one of 2 things happen, either the product ur selling is THAT good, or you over drive the value during the sales process. just my exp
Ace
Arsonist
+9
CEO
I agree, but you can't keep everyone happy. Some clients just respond better to pampering lol, at least in my space. So was wondering if there are any solid programs that I can integrate into this
Salespreuner
Big Shot
+11
Regional Sales Director
That's rightly put up. Yes, +1 for this
Bittersweet0326
Politicker
+5
Digital Business Associate
Just referrals based on the quality of the product has been successful for me.
Ace
Arsonist
+9
CEO
Working for me too. Was wondering if I can accelerate it
Bittersweet0326
Politicker
+5
Digital Business Associate
Maybe, and maybe it will work well. For me these donโ€™t come as fast but they are the best quality.
Show 1 more replies
Stardust
WR Officer
+9
President
Tieing discounts to referrals sets a slippery slope precedent.ย  They'll do it for the $ instead of because your product rocks.ย  There are a couple of things I've done in the past:
- Create a special group for frequent referral givers. Not a CAB, but a group that can network together, meets up for dinners, and one you can turn to for 'under NDA' updates and advice
- Work with Marketing (yeah, I know but they can do this) to give the customers some love through speaking events, guests on podcasts/webinars, publish their UCG/articles
- More love by thanking them publicly (not for the referral) but being such a great customer and showcase what they are really good at
- Let their boss know what a rock star the employee is
- send a small gift (under $25) or make a donation in their name (your idea )
Ace
Arsonist
+9
CEO
Such a thoughtful approach. Just what I needed. Thanks a lot!
Jo
Joy
Old School Bravo
AVP Sales
This is great, this topic has been on my mind for a little bit. Only thing to add here would be to treat this as a channel to building the funnel and bring the same level of consistent execution like any other outbound effort.ย 
TheHypnotist
Opinionated
+2
Sales Manager
If I know the tipple of choice of the customer then I will buy them a bottle. It shows you actually made an effort.
Ace
Arsonist
+9
CEO
That makes sense!
Bensonwade
Good Citizen
+3
Enterprise Account Executive
As a young company, any go-to-market channel that starts generating reoccurring revenue to critical. As you continue to understand different channels and collect solid data on lead acquisition, pipeline stage timelines, cost of acquiring customers, net retention revenue, etc., then you are able to determine the best channels for your business.ย 
Ace
Arsonist
+9
CEO
This makes sense. I have limited data with only a few venues right now but I think I should wait till I have enough
TheUTrain
Good Citizen
Head of Sales
Along the same lines, does anyone have any recommendations for a tool to track referrals in Salesforce?
Ace
Arsonist
+9
CEO
Will follow this thread
jt
jtATX
Old School Bravo
Interim Chief Revenue Officer
Our industry is a very tight knit group and relationships, street cred, and referrals run deep. We offer monthly or annual Saas plans, and we offer our current clients either a free month's of service on renewal if they give us a referral that signs up, OR we give someone who doesn't care about saving their company money a $200 Amazon Gift Card. They get to choose.ย 
Ace
Arsonist
+9
CEO
Oh that's good. My industry is not relationship focused or atleast not yet. But this one is a good one
DizzyRascal
Opinionated
+5
BizDev
Most customers love a branded swag. I once got so many customers excited to refer people to me because I was giving them socks that have a very old logo on them and the colour was a bit iffy.
Ace
Arsonist
+9
CEO
Ooh I like that. Something simple and yet effective
ppg
Praised Answer
+4
VeePee
Bro I used to sell EE as well! In another life though... the software should sell itself, but itโ€™s not the case.ย 

I had leveraged the network of the HR partners I was working with and give them (the person) a perk. Not sure who you sell too, but discounts for accounts sucks, not a great reward for the partner that refers. ย  Some of them were against a personal perk, as if we were bribing them...

we had a points system within the software, and with their agreement, we would either drop points or a specific reward chosen by the referee.ย 

hope it helps, if not hit me up and letโ€™s chat some more.ย 

Ace
Arsonist
+9
CEO
This helps. Just curious on how the point system worked?
swizard
Celebrated Contributor
+9
Sales Evangelist
hard cash %
Ace
Arsonist
+9
CEO
What do you think is an ideal %?
JuicyKlay
Politicker
+9
AM
We did a $50 gift card email campaign to existing clients and got a few leads.ย 
Ace
Arsonist
+9
CEO
That's pretty simple. I wanted to try this too but someone was like it's been overdone, why don't you be more creative? That's when I posted this on hereย 
9
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