7 Best Referral Programs Software

What’s the most valuable asset for a business? Is it a professional workforce, industry-leading products, or a recurring revenue stream?

Of course, these are crucial for any business to function like an enterprise but you cannot play down the value of loyal customers. People who love your brand and value its offerings without batting attention to competitors are always keen to tell others. Thus, bringing more customers to grow your business.

Creating a constant cycle of new leads and loyal customers demands a more formalized scheme than raw word of mouth. Referral marketing programs incentivize existing customers to popularize your brand in their immediate circles and reap the rewards for every new lead that comes aboard.

The strategy might seem simple in principle, but managing a referral campaign gets challenging as you round up more customers or introduce tiered rewards. When it comes to scaling and ensuring transparency for every referral, incorporating a referral software tool becomes inevitable.

The right referral program software boosts acquisition, maintains transparency, and increases customer trust — but it requires detailed consideration to find the right one. This article enlists the 7 best referral software you can integrate with your business to maximize growth.

What is a Referral Program Software?

A customer referral program aims to leverage the personal connections of existing customers to lure in new ones. One good recommendation from your best customers can turn a stranger into a valued customer, considering you offer equally lucrative rewards in return. But to get these operations running without a hitch, you must incorporate an automation tool.

A referral program software automates the process of building, launching, and running a word-of-mouth campaign for businesses to generate sales. It streamlines the entire scope of program management from influencers, affiliates, and customers.

Based on what your business demands, you can set up the program for your existing clients to refer new customers, generate tracking links, track impressions, and direct payouts for the commission earned.

Most popular referral software are designed to be scalable, accommodating the influx of new leads as your business grows. Whether you own a small startup or manage a large enterprise, the right software can adapt to the growing demand and enroll more customers as prime advocates for your brand.

Why Your Business Needs Referral Program Software?

Pinpoint the top contenders from your existing customer base, present them with the referral offer, and create a system to register incoming referrals; setting up a refer-a-friend campaign isn’t so straightforward.

You need to keep track of every customer and each person they refer to your business. Plus you need an infrastructure to trace referrals so that the rewards are attributed to the right person. No matter the marketing strategy, automation to a degree is necessary for transparency and growth.  Here are a few reasons why a referral tracking software is crucial for your business:

• Tap exponential growth: When you appoint existing clients as organic ambassadors for your brand, the chances of tapping a widespread audience improve significantly. People who channel in via personal recommendation also tend to stick longer as your customer.
• Trustworthy customer relationships: As satisfied customers refer friends, the trust cascade increases, creating a positive feedback loop that not only secures new customers but solidifies the brand’s reputation among existing ones.
• Higher brand advocacy: The structured incentives and easy-to-use interfaces empower customers to actively promote the brand — a network of passionate advocates who contribute to building a positive perception in the market.
• Scalability: Whether a startup looking to establish its presence or an established enterprise aiming for expansion, the referral software can seamlessly align with the growing user base while ensuring transparency in rewards.
• Security and fraud prevention: To maintain the integrity of the referral program, the software incorporates security measures and fraud prevention mechanisms including fraud detection algorithms and IP tracking to prevent abuse of the referral system.

How to Set Up a Referral Program Software with Your Business?

Instead of designing and building a customer referral or reward system from scratch, you can simply opt for a software solution to automate the tasks. And it’s not rocket science to integrate one with your business model.

As long as you run a business with network effects, have a low lifetime value of customers, and a higher cost of acquisition, including an automation tool will help empower your marketing campaigns. Here’s a step-by-step process for incorporating referral software with your business:

1. Select Appropriate Referral Software

Find a referral software solution that aligns with your business needs and goals. Make sure its scalability, feature program customization options, analytics capabilities, supports easy integration, and most importantly, adapts to your existing workflows.

2. Customize Program Parameters

Tailor the referral program parameters to match your business model and objectives for the program. Define the reward structure, eligibility criteria, and any specific conditions for successful referrals, so customers how to participate and what to expect from the program.  Personalize it to resonate with your target audience and incentivize both referrers and new customers for higher participation.

3. Integrate with Existing Systems

Most software solutions do not require a whole new set of tools to work with. Coordinate with your IT team or software provider to integrate the software with your existing systems including, CRM, e-commerce, and other databases. The purpose is to allow seamless data flow between systems for accurate tracking and reporting.

4. Implement Tracking Mechanisms

It’s important to monitor and attribute referrals accurately to every customer to establish your credibility. The process involves generating unique referral links for participants and tracking leads to identify the source of each referral. Once it’s confirmed as a legit source, the rewards are allotted to the participants.

5. Design User-Friendly Interfaces

Some referral software has an embedded landing page builder that allows marketers to design compelling referral web pages without any code-intensive programming. Keep things simple and basic so every visitor can participate.

The smoother the experience, the higher the likelihood of participation. Intuitive dashboards, easy sharing options, and clear reward visibility contribute to a positive user experience — and with it, a higher participation in your program.

6. Establish Communication Channels

Implement communication channels within the referral software to keep participants informed. Utilize automated notifications, status updates, and reward notifications to keep participants engaged and informed about their progress. Knowing their referral score in real-time not only develops trust but also keeps them engaged until the main reward is earned.

7. Test and Debug

Before launching the referral program for the public, conduct thorough testing to identify and resolve any potential issues. Test various scenarios, such as different referral pathways and reward redemptions. Debugging at this stage ensures a smooth experience for participants when the program goes live.

7 Best Referral Marketing Software Tools

Customers who refer your brand to others are not just driven by loyalty but also by the incentives you offer in return. Every referrer you direct new leads to your brand should be compensated accordingly.

The best way you can accomplish that without any discrepancy or error is through smart referral software — one that automates every aspect of the campaign seamlessly. Here’s the breakdown of the top 7 Referral marketing solutions.

Prefinery

The success of a product launch is often dependent on the leads you acquire during pre-launch marketing — a genre where Prefinery excels. Established in 2008, Prefinery has earned the trust of more than 22,000 tech businesses globally in its decade-long experience, including Atlassian, Microsoft, Logitech, and Wealthsimple.

Prefinery’s customers have turbocharged their marketing through high-quality referrals and maximized email lists by an average of 40%. The marketing platform aids small businesses and startups in building anticipation before a product launch and ensures seamless scalability afterward.

Regardless of whether you're running a SaaS company or a new fintech product, Prefinery stands out, particularly when personalized and secure solutions are paramount. With support for over 3,000 web app integrations, the platform enables marketers to use referrals and tailor referral campaigns to their specific business models.

Prefinery stands out for its high level of customization, allowing users to personalize everything from program layout to email copy. Prefinery is equipped with features like form builder, mobile-centric elements, email automation, reward optimization, live leaderboards, and fraud protection, ensuring success while launching your referral program, and not leaving it to chance.

Pros

• Unlimited campaigns and emails
• Offer multiple reward types
• Offer a free trial
• Highly customizable and embedded signup form
• Support comprehensive email analytics

Cons

• Do not feature any program templates
• Does not offer landing page builder support

Pricing

Prefinery offers a 14-day free trial, then features three price packages; lite, essentials, and pro ranging from $49/month to $239/month. The pro package includes top-end features including unlimited campaigns, team members, and marketing emails.

Viral Loops

Operating on the fundamental principles of customer loyalty and personal recommendations, Viral Loops strives to streamline and simplify referral marketing. In its seven years of experience, Viral Loops boasts an impressive track record, featuring over 47,000 active campaigns, 25 million leads generated, and 15 million successful referrals.

The software helps marketers to craft and execute referral programs inspired by the strategies of billion-dollar brands like PayPal, Robinhood, and Harry’s, enhancing your visibility and the likelihood of accessing a fresh pool of leads.

Viral Loops goes beyond the basics, offering proven solutions for creating referral programs, pre-launch waiting lists, newsletter refer-a-friend initiatives, and invite-based giveaways. Whether you're building anticipation for a startup or creating a buzz with enticing giveaways, Viral Loops stands out as the go-to choice for marketers.

It simplifies referral campaigns, allowing your customer base to effortlessly invite friends on various platforms, including Messenger, WhatsApp, or TikTok, and through specialized referral platforms. The Campaign Wizard, customizable templates, Viral Loops Pages, integrations, and a real-time dashboard are among the many features that contribute to making Viral Loops a comprehensive and user-friendly solution for businesses.

Pros

• Allows unlimited referral campaigns
• Features a comprehensive landing page builder
• Provides live customer support throughout onboarding
• Offers various campaign templates

Cons

• No pre-launch waitlist
• Only supports single reward type

Pricing

Viral Loops introduces three different price packages for businesses depending on their campaign dynamics and existing customer base. The start-up package starts from $35/month, growing packages are priced at $69/month, while the top-end power package is billed $208/month.

Growsurf

For many companies, GrowSurf is a catalyst that allows you to conceive, construct, and launch a customer referral program in a matter of days, regardless of the scale of your campaign. The tool swiftly converts enthusiasts into vocal advocates and turns potential prospects into actual buyers.

Growsurf is not for tech geeks or software developers, rather it helps business owners design and launch referral marketing campaigns seamlessly, from initial setup to attribution of rewards to advocates.

Most of Growsurf’s workflows are automated requiring minimal to zero manual input to trigger actions. You can set gift cards, cash payouts, or account credits with just a few clicks. For added flexibility, leverage Zapier or webhooks to introduce a myriad of other reward options.

Growsurf has propelled the growth of companies like Alma, MainStreet, InvestEngine, and Willful, boasting a remarkable 312% ROI and a 15% annual recurring revenue, fueled by over 1.88 million referrals. The platform positions itself as the go-to referral software, offering a rapid solution for marketing teams aiming to launch a referral program seamlessly.

Pros

• Unlimited email sends
• Allows auto-upgrade to a higher plan
• Provide an array of campaign templates
• Easy navigation from integration to automagic

Cons

• No landing page builder
• Does not allow advanced email customization

Pricing

Growsurf comes off as a pricier software solution compared to its counterparts with the startup plan priced at $775/month and the business package at $1,125/month. As for the elite price plan, users are required to contact Growsurf for more information.

Referral Rock

As you scale your business, managing the referral campaign alongside gets more complex, requiring automation for every module. Referral Rock empowers both B2B and B2C enterprises to set their word-of-mouth campaigns on autopilot, fostering better shares and elevating brand awareness.

Despite a substantial 83% of customers expressing their willingness to share positive experiences, a mere 29% take the plunge. Referral Rock ensures that this untapped potential transforms into a consistent, reliable, and scalable growth engine for your business, all without your direct involvement in every sales maneuver.

Even if a loyalty program is already in place, Referral Rock offers the comprehensive infrastructure needed to automate processes, personalize user experiences, and seamlessly integrate with existing workflows.

With over 1,000 B2B and B2C businesses relying on Referral Rock, its appeal goes beyond pre-drafted messaging or automatic referral enrollment. The platform's iterative approach streamlines the onboarding process, allowing startups to configure referral mechanics and launch their programs within days, circumventing the need for an in-house development team.

Pros

• Top-notch tracking analytics
• Flexible customization and affiliate portal
• Embedded referral widgets on website
• Integrates with third-party tools and CRM

Cons

• No pardot integration
• Needs plug-and-play email templates

Pricing

Referral Rock’s starter pack is set at $200/month and growth plan at $400/month. While established businesses can sign up with Referral Rock at $800/month.

Invite Referrals

Gone are the days when venturing into referral marketing required tech-savvy expertise or assembling an in-house team of developers. Thanks to the convenience extended by Invite Referrals, it has evolved into one of the most cost-effective and effortlessly deployable marketing strategies available.

Whether steering an e-commerce enterprise or a SaaS venture, Invite Referrals offers the robust infrastructure needed to propel your business forward and attract new customers. Its compatibility with various platforms like MailChimp, Shopify, BigCommerce, and Zapier renders it a dependable choice, trusted by over 20,000 businesses.

From the inception and execution of your referral program to monitoring conversions and allocating rewards to referral partners, Invite Referrals diligently oversees every facet while keeping you abreast of the latest developments.

The software meticulously measures metrics encompassing referrers, invites, referral visits, installs, and top advocates, presenting comprehensive analytics in a singular dashboard. Participants in the program are also equipped with dashboard slides revealing key insights such as generated leads, conversions, and pending rewards, fostering transparency that goes a long way in building trust.

Pros

• Unlimited email sending
• Allows auto-upgrade without signup blocking
• Reward system with multiple reward types
• Comprehensive campaign user management system

Cons

• No double opt-in feature
• Can't customize email layout

Pricing

Invite Referral proposes three price packages; basic, standard, and enterprise plan starting at $99/month and $249/month. Whereas, the price for the enterprise plan depends on the scale of your business and the campaign you initiate.

Friendbuy

For a business to bolster its profits and set a steady revenue stream, it should look beyond standard customer acquisition. Retaining customers that come your way is equally valuable, and perhaps, your prime sales generator.

Friendbuy powers businesses with not just new customers but also helps retain existing ones, converting them into enthusiastic advocates through loyalty programs. Offer loyalty points on every purchase your customers make to gain their advocacy, and with a planned referral strategy turn them into vocal ambassadors for your brand.

Companies can integrate referral and loyalty programs throughout their customer journey. Once aligned with the existing tech stack and supervised by marketing experts, you can automate referral programs in a way that accelerates your sales at a surprisingly low CPA. Besides, you can also leverage integrations to automate email and subscriber growth.

Through trusted partnerships, Friendbuy assures a 5–15% increase in customer acquisition, 25x ROI, and 3–4x higher lifetime value for high-growth brands. Its impeccable track record extends to renowned brands like Nestle, Disney, Walmart, and MeUndies.

Pros

• Integrates with existing tech stack
• Improves customer acquisition at low CPA
• Automates email and SMS subscriber growth
• Offers custom rewardable events

Cons

• Lacks proper reporting and analytics
• Requires developer resources to set up campaigns

Pricing

Friendbuy proposes three different price packages for startups, medium-sized businesses, and large-scale enterprises based on features offered. Apart from the 30-day free trial, the starter plan is priced at $249/month and deluxe at $749/month. While for enterprises, the cost depends on the scale and features offered.

KickOffLabs

Capture excessive leads through viral giveaways and product launches, and transform your fans into influencers to supercharge your growth – all made effortless with KickoffLabs.

KickoffLabs specializes as an audience growth platform where fans help businesses acquire new customers through dynamic lead capture setups including Sweepstakes, prelaunch waitlists, email opt-in bribes, newsletter referrals, and leaderboard giveaways.

Marketers have the freedom to initiate referral campaigns in popup boxes, landing pages, or embed in existing sites,  within minutes. With features like personalized greetings, advanced fraud protection, A/B testing, and customizable scoring and actions, software entails unique features needed to run campaigns with confidence.

KickoffLabs isn't just about lead capture; it's about getting referrals and doubling your conversion rates. The platform allows for easy sharing, automatically generating unique links for every lead and displaying who referred them. So you attribute rewards to people who truly deserve them.

Pros

• Support unlimited campaigns
• Automated email layout builder
• Detailed campaign user management system

Cons

• No campaign templates
• No prelaunch waitlist or beta management
• Limited email customization options

Pricing

Compared to its counterparts, KickoffLabs offers competitive prices for its referral automation services. The starter plan ‘Hobby’ starts at a mere $19/month, the premium plan $49/month, the business package $99/month, and the enterprise-level campaigns initiate at $199/month.

Ideal Referral Software for Your Business: How to Choose One?

The ideal referral software isn’t any specific tool, but one that aligns with your business dynamics. But to find one that suits your business, you need to consider the following features:

Flexibility and Customization: Look for referral software that enables personalization — adapts to your line of business, automation workflows, and campaign infrastructure. Every business has distinct requirements, which is why the ability to tailor referral programs, rewards, and communication to its demographics, ensures a unified brand image.

Hassle-free Integration: The software you choose must integrate with your company’s existing tech stack including CRM, marketing tools, and sales channels. The integration enables a seamless data flow between all systems, enhancing efficiency and building a holistic view of consumer interactions.

Scalability: Each business is dynamic, and the chosen referral software should scale with its growth. Make sure the software accommodates the increasing number of participants, adapts to changes in referral process, and handles higher transaction volumes without compromising performance or user experience.

User-friendly Interface: A user-friendly interface is equally purposeful for both your team and customers participating in the referral program. Intuitive dashboards, clear navigation, and easy setup contribute to a positive user experience. The simplicity facilitates quicker onboarding for your team and encourages active participation from your customers.

Fraud Prevention: The integrity of your referral program and your brand is inherent in the transparency you exhibit. Look for software that employs advanced algorithms to detect and prevent fraudulent activities, protecting your program from abuse and that rewards are allocated rightfully.

Closing Note

Referral marketing capitalizes on word-of-mouth—a positive recommendation from a trusted source is more likely to convert as a paying client—which makes it a valuable lead acquisition channel for any business. Satisfied customers can be enthusiastic advocates for your brand, but you need a proper infrastructure in place to leverage their referrals.

There are plenty of referral automation software that you can adopt to develop win-win relationships with your clients, increase your outreach to new audiences, and boost your sales funnel.

We’ve shortlisted the top 6 referral software which ensures a lower cost per acquisition and higher ROI, but the right choice depends on your campaign dynamics. Prefinery is an industry-leading prelaunch referral waitlist automation tool that is viable for startups, small and medium businesses SMBs, and large-scale enterprises.

FAQs

How does referral program software benefit my business?

A referral software can significantly boost customer acquisition by leveraging existing customers as advocates. It automates the process of tracking referrals, managing rewards, and analyzing performance, ultimately driving organic growth and increasing brand visibility.

What rewards can I offer with referral software?

Although it depends on the type of software you use, most high-end referral marketing platforms enable various types of rewards and incentives specific to the business needs. Common referral rewards include cashback, discounts, exclusive/priority access, or charity donations.