As previously discussed, referred customers can be some of the most beneficial to a business in both the short and long-term. These are the consumers every business wants to acquire, but how to accomplish this? Referral programs are designed expressly to encourage customers to pass along a business’ information to friends and family.

Customer referral programs have gained massive popularity over the past few decades and more so in recent times. These programs cut across all industries and are being utilized by firms in advertising, the automobile industry, hotels and financial services just to mention a few.