What is Referral Software?

Aug 29, 2021 | Referral Marketing

Referrals are vital for company growth; there’s no doubt about that. The restaurant industry thrives on customers telling loved ones about positive experiences with restaurant services. In fact, word-of-mouth referrals generate 80% of the restaurant industry’s business.

Leveraging these referrals can bring more customers to your business. Many times, a simple incentive for a referral, like $5 off their next purchase, can drive your ROI through the roof bringing in new customers more often. However, without the proper process for sending out referral requests, you can be left with a marketing mess on your hands.

That’s where referral software comes in. By pairing your business with a referral software program, you streamline the day-to-day tasks of referral marketing. In this article, we will explore what referral software is and the benefits of using this software for your business.

Referral Software: What is It?

Referral software is a platform that helps businesses promote their services more efficiently. It does so by using its clientele as a source for new sales leads. Essentially, it takes the typical word-of-mouth referral process and turns it into a digital, streamlined system with measurable data. The best referral software programs mold their functionalities to fit your business needs. For example, Check This Out’s features cater to restaurants and small businesses.

Referral Software Features

By using referral marketing software, you can condense several individual tasks into a single platform. This makes daily operations easy to track and manage. In the list below, we outline the functions a referral program can take off your busy schedule.

  • Customer Management – You can import your client base to the software to reward loyal customers, add new customers, and see which customers are utilizing referrals.
  • Easy Communication – Using text messaging and email referral software, referral platforms invite customers to send their loved ones a discount for your business.
  • Data Tracking – Some referral platforms track your top promoters and show new and repeat customers. You can use this information to tailor your marketing and check your ROI (like Check This Out does).
  • Reward Regulation – You can reward loyal customers with easy-to-apply promotions and discounts.

Benefits of Referral Program Software

Even with the leap in media use in recent years, reaching your target audience can be difficult, especially without a proper strategy. Because of the influx of Facebook and Instagram ads, customers can feel overwhelmed by the competing brands. Customers typically trust referrals over pay-per-click campaigns, so using referral program software can help you build valuable customer relationships. Below, we list the top benefits of using referral marketing software.

  • Increased Referrals – Applying a referral marketing strategy can help grow your customer base and increase loyalty. Referral marketing customers are 4x more likely to buy, so referral marketing improves your client retention rate and increases your ROI.
  • Low Maintenance – Ordering mailers, sending discounts, and writing emails can suck up the time you want to spend on running your business. Referral programs automate client communications and make it easy to track each marketing campaign from start to finish. While you take a few steps to set up your strategy at the beginning, most of the work is done by your customers through referrals.
  • Streamlined – With the major steps of referral marketing in one platform, you can track your progress and monitor user engagement with a few clicks.
  • Cost-effective – With referral program software, you only pay for what you use. For example, at Check This Out, you are only charged $.30 for each $1 of discount value when a discount is activated. This means you minimize the risk of taking on a new marketing strategy.
  • Customized – Referral platforms like Check This Out use software that is easy to adjust and user-friendly. You can change your strategy or email wording with minimal hassle to you and your team.

If you run a restaurant or small business and want to increase your ability to acquire and retain customers, reach out to Check This Out today. Using our custom software, we’d love to help build a referral marketing strategy tailored to your business’s needs. We know it can be intimidating to change your marketing strategy. Our team is here to help you through this new and exciting endeavor. We assist in setting up an easy-to-apply strategy that takes the hassle of referral marketing off your schedule. Contact us today to get a demo.

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