Value Delivered by Extole
Referral is person-centric. The value Extole delivers is different than typical direct attribution marketing which typically treats everything as a transaction vs. a customer. Some of the key areas referrals provide value:
New to File relative to your Other Channels - referrals delivers a 30% higher rate of new customers than other channels
Advocates are your most valuable segment of customer - referrals are a natural look-alike model where Friends also become part of that same super valuable customer segment. Extole quantifies this with:
Advocate Purchase Frequency vs. Other Channels - Advocates purchase more frequently than customers driven from other channels. This leads to a higher Revenue per Person (or LTV) of an Advocate compared to customers acquired from other channels
Friend Purchase Frequency vs. Other Channels - Friends purchase more frequently than customers driven from other channels. This leads to a higher Revenue per Person (or LTV) of a Friend compared to customers acquired from other channels
Leverage the reach of your Advocate Army - use Advocates to promote non-referral offers or even new product launches
Drive more site traffic - every Friend click is more traffic to your site raising brand awareness
Enrich your customer profile - integrate your CRM with Extole and start feeding information about who your Advocates and their Friends are for a holistic view of your customers
Email list growth - opt your Advocates (and potentially friends) into your traditional marketing programs