Analyzing metrics is one of the most important processes within a Referral Marketing campaign.
This type of strategy based on promoting contacts and obtaining new customers through word of mouth
requires specific statistics that indicate the results of our promotions within a period.
For example, we should analyze the following questions:What are the results of the promotions? How many of the visits to our page, derived from invitations, become Leads?
These parameters will tell us if our campaign is going well if users feel represented and even if the rewards we offer are a good option. These questions will be answered through various metrics:Participant sharing rate
: Using the participant sharing rate allows us to know the average number of unique actions per campaign participant
. The higher this rate, the greater the reach of the campaign and the lower the cost per customer acquisition.Invitation clickthrough rate
. We must also analyze the percentage of clicks of the invitations or Click Through Rate (CTR) that indicates the people who click on the invitation of the promoter.
To increase this number we must personalize the invitation messages.Invitation conversion rate.
We also use the Conversion Rate of the invitations to know how many people, after having clicked on the invitation, arrived at the page of the recommendation campaign.
The invite conversion rate tells us how many people became Leads through those invites.