10 Best Referral Marketing Software [2020 Full Review]

Do you want to spread the word about your business to large numbers of peope?

It’s easy if you do it the right way.

In this article, we have covered all you need to know about referral marketing and carefully picked the best software in the market right now.

This software will make your work a whole lot easier.

    So, what is Referral Marketing

    Referral marketing is a marketing strategy that utilities the word of mouth promotion of existing customers to bring in new customers to a business.

    The existing customers are usually given an incentive to make them promote the business.

    The word of mouth strategy is not new to the business world at all. Referrals are an age-long practice with businesses informing their clients to ‘tell a friend.’ A friend tells a friend who tells another friend, and with time, a company has grown in leaps because of one referral.

    That process can, however, be incredibly slow, with customers often forgetting to refer your business.

    The digitalization of marketing processes has helped solve this problem, along with extensive research into the strategy.

    Now, you can get loads of new customers using referral marketing.

    According to the Word of Mouth Marketing Association, 2.4 billion of the conversations daily are brand-related.

    People like talking about the things they have bought and the merits of the goods or services.

    You can leverage on these talks to make more conversions and sales for themselves.

    Not only do customers talk about brands, but these conversations also affect the choices that potential customers make.

    Nielsen’s recent research shows that people are four times more likely to buy a particular brand when a friend advocates for the brand.

    Another study by Nielsen suggests that around 92% of people report trusting their friends’ and families’ recommendations more than traditional advertisements.

    Traditional marketing strategies cannot give you this level of assurance in their ability to work.

    Like the Old Spice commercials that went viral with 23 million views in 36 hours, referral marketing promotes your business with speed and an ROI that you won’t get with other methods.

    With the right incentive and referral marketing software, you can build your brand name awareness, increase conversions, and make more sales.

    Are you wondering if referral marketing will be suitable for your type of business?

    Then, it might interest you to know that referral marketing works well regardless of the kind of business. Whether you are a small store or a large corporation, referral marketing is one of the cheapest ways you can promote your business.

    You can implement referral marketing in your business in different ways. You have to find out which approach will work for your type of business best.

    You can either ask your customers to advocate for you, train your employees to refer, join hands with a complimentary company, or do all.

    Regardless of the referral marketing method, you can be sure of a good return on your investment. Though, you have to choose certain factors like your incentive carefully. You don’t want to spend all your profits on bringing the customers.

    The right incentive will not cost you much. Yet, it would be valuable enough for your customers to take time out of their schedule to refer you to their friends and family.

    One other factor that means your success or failure in referral marketing is your choice of referral marketing software.

    If your choice of software makes your advocates take a lot of time to refer your business, despite the incentive, they might decide not to mention you. It would be best if you took the choice of your referral marketing software seriously.

    Our review of some of the best referral marketing software below will help you choose what is best for your business.

    10 Best Referral Marketing Software in 2020 

    Post Affiliate Pro 

    Post Affiliate Pro is a comprehensive software that runs the entire affiliate marketing for you. It offers a variety of functions that increase your referral audience and visibility. 

    You can create one or more campaigns at the same time and follow the detailed statistics on the achieved results. Plus, PAP is designed to be easily integrated with other platforms.

    If you are not yet savvy about using a tool like this, PAP has very good customer support that will lead you step by step through the software. 

    The software will pay off very quickly as it is very reasonably priced compared to the number of features it contains. 

    Post Affiliate Pro- Referral Software

    Pros 

    • A comprehensive referral marketing tool
    • Variety of available features 
    • 24/7 customer support 
    • Good value for the price 

    Cons

    • Longer learning curve 
    • Difficult to use for beginners 
    • Requires some technical knowledge 

    Price: starts at $97 per month 

    Capterra Rating: 4.5/5

    Ambassador 

    Ambassador is a multifunctional software that allows you to reach a bigger audience, offer all kinds of rewards and track the performance. 

    You can easily set up several different and fully personalized campaign to engage your referrals or even influencers to spread the word about your business. If needed, you can also test some of the reward systems and see how successful they are before you decide to start a bigger campaign. 

    In order to get the price for a certain plan, you must first contact the company and schedule a demo. 

    Ambassador- Referral Software

    Pros 

    • A fully automated reward system 
    • All-in-one platform 
    • Responsive customer support 
    • Personalized campaigns 

    Cons 

    • Takes time to set up 
    • Requires scheduling a demo prior to purchase 
    • Lack of some of the customization tools 

    Price: requires scheduling a demo to get the price

    Capterra Rating: 4.5/5

    Refersion

    Refersion is a software that enables you to easily track referral sales and engage people in recommending your business. 

    It connects very well with other platforms and even allows you to complete payments directly from the software. 

    If you are focusing on affiliate marketing as well, you can show your partners sales record and keep them motivated to collaborate with you. 

    The tool is very precise and offers detailed reports to help you analyze the progress and plan future campaigns. 

    Refersion- Referral Software

    Pros 

    • Easy to track sales
    • Fast integration 
    • Strong customer support 
    • Suitable for beginners

    Cons

    • Limited affiliate features 
    • Fewer payment methods 
    • More expensive than other alternatives 

    Price: $89 per month

    Capterra Rating: 4.5/5

    Partner Stack

    Partnerstack screenshot

    Formerly known as GrowSumo, Partner Stack makes a powerful tool for connecting with partners and strengthening the relationship with affiliates.

    Additionally, it allows you to build referral partner lists and increase your audience. You can customize your campaigns to match the interests of a specific niche. 

    PartnerStack is optimized to provide both you and all of your partners very good experience. They can create accounts in just a few steps and join you in your efforts to expand your audience.

    Compared to other software, PartnerStack is more expensive. However, once you weigh in all of the benefits, it makes a good long term investment. 

    Partner Stack- Referral Software

    Pros

    • Easy setup process 
    • Saves time for your partners and affiliates 
    • Allows to create customized campaigns 
    • Facilitates building strong partnerships 

    Cons 

    • More expensive 
    • UI can be a bit complicated 
    • Fewer email customization options 

    Price: $500 per month

    Capterra Rating: 5/5

    Influitive 

    Influitive is a highly interactive software which enables you to invite your old customers, partners or affiliates to participate in challenges. 

    These challenges can include referrals, social media tasks and many more. By completing a challenge, they earn points which bring them a variety of perks and incentives. 

    If you decide to purchase Influtive, you can count on a highly qualified support agent that will guide you through the process and make sure you meet your goals. 

    Influitive- Referral Software

    Pros 

    • Very effective in the long run
    • Highly interactive and innovative 
    • Engages even the passive members of your community
    • Great support 

    Cons 

    • It takes time to build the audience 
    • Requires a larger community to kick off the campaign 
    • Lacks some of the traditional affiliate software features 

    Price: not provided by the vendor

    Capterra Rating: 4.5/5

    Referral Candy

    If you are just getting started with referral marketing software then Referral Candy can be a great option. It is very easy to set up and navigate afterward. 

    The idea behind Referral Candy is to help online stores increase their sales. This is achieved by starting a variety of rewards campaigns that attract new customers. Moreover, integrating Referral Candy to major shopping platforms such as Amazon or shopify is very easy.

    The software contains pre-made email templates that you can easily set up. You will have all of your contacts, rewards, and statistics displayed on the dashboard. 

    Perhaps one of the biggest advantages of Referral Candy is its reasonable price compared to similar software on the market. 

    Referral Candy- Referral Software

    Pros 

    • Great for beginners
    • Easy to navigate 
    • Quick integration with major shopping platforms
    • Inexpensive 

    Cons 

    • Limited features 
    • May not be effective for all businesses 
    • Occasionally takes more time to upload things

    Price: starts at $49 per month

    Capterra Rating: 4.5/5

    Referral Rock 

    Referral Rock enables you to completely automate the referral marketing process. You can do so by setting up personalized campaigns that engage your customers in social media sharing, dual-side rewards and many more. 

    This software is suitable for any type of business, especially the ones that are just getting started. 

    If you want to track your performance, you will be able to access Google Analytics that contains all of the important statistics. 

    Referral Rock- Referral Software

    Pros 

    • Useful for any business
    • Quickly engages referrals 
    • Friendly user interface 
    • Easy to navigate 

    Cons 

    • Limited customization features 
    • Basic reporting system 
    • Higher price 

    Price: starts at $200 for a basic plan

    Capterra Rating: 4.5/5

    Viral Loops 

    Inspired by major referral marketing ideas and campaigns such as Amazon or Dropbox, Viral Loops offers a variety of templates to help you spread the word about your business. 

    The design of templates is very modern. Using these, you can start competitions, referral campaigns, or social media shares. 

    There is a variety of ways of integrating your campaigns into any type of platform in a matter of minutes. 

    If you’re looking for a simple, time-saving yet highly effective referral marketing tool, this may be the choice for you. 

    Viral Loops- Referral Software

    Pros 

    • Numerous pre-made templates 
    • Easy to integrate 
    • Fast customer support 
    • Inspired by successful campaigns 

    Cons 

    • A limited number of templates 
    • Limited customization features 
    • Takes time to learn how to use 

    Price: $49 per month 

    Capterra Rating: 4.5/5

    Invite Referrals

    Invite Referrals is a very simple software to use, but it provides a full referral strategy, tracking tools and detailed analytics. 

    You can start different campaigns with it and encourage customers and affiliates to recommend your business. 

    Everything you need is easily accessible from the dashboard which has a very friendly user interface. 

    Moreover, the platform is carefully optimized for social media and allows you to create highly interactive competitions and quests to quickly reach a large audience. 

    Invite Referrals- Referral Software

    Pros 

    • Powerful dashboard 
    • Easy to set up and use 
    • Optimized for social media 
    • Detailed reports

    Cons 

    • Only a web version 
    • Fewer designs 
    • Fewer participants allowed 

    Price: $79 per year for the Basic account, $199 per year for Standard

    Capterra Rating: 5/5

    Rex

    If you’re looking for a way of collecting positive feedback, Rex can serve as a useful tool. It enables fully automatic campaigns which invite customers to rate your business and recommend it to friends. 

    The fact that it takes just one click to leave feedback is probably a reason why people respond very well to it. There are no complicated tasks and multiple steps to take. You can have your recommendations in a matter of seconds. 

    Have in mind that this is very specific software that won’t allow you a whole lot of versatility in campaigns. However, it can bring you great results in terms of rating. 

    Rex- Referral Software

    Pros 

    • Fast and effective for getting feedback 
    • Easy to set up and manage 
    • One-click campaigns 
    • Highly interactive

    Cons 

    • Limited types of campaigns 
    • More expensive than other alternatives 
    • Basic reporting system 

    Price: $240 per year/user

    Capterra Rating: 5/5

    How to build a referral program?

    Our friends at SaaSquatch published a video that explains to you how to build a referral program it in 90 seconds and the most important aspects you should pay attention to.

    Conclusion

    Now that you have useful tools to help you grow your business, the only thing left to do is get on to work and start spreading the word about your business.

    References

    https://www.annexcloud.com/blog/39-referral-marketing-statistics-that-will-make-you-want-to-start-a-raf-program-tomorrow/

    https://www.trustradius.com/referral-marketing

    https://learn.g2.com/referral-program

    https://www.nielsen.com/us/en/insights/article/2013/under-the-influence-consumer-trust-in-advertising/

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