Overview

This article explains the importance of referral leads in advocate marketing and how they contribute to higher conversion rates, shorter sales cycles, and larger orders than other lead sources.

Information

What are Referral Leads?

Referral leads are potential customers introduced to your company by advocates. These leads have been engaging with your advocates and have met your advocates' prerequisites that highlight them as potential customers. Referral leads are also used as a measuring tool for companies to gauge the success of their advocate marketing program.

Why Are Referral Leads Important?

While the marketing and sales teams consistently produce leads, referral leads typically convert at a rate of four to 10 times higher than leads from other sources. Because the referral leads already have an introduction to your company, there is often a shorter sales cycle, increased win rates and larger orders.