Referred Customers
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Transcript of Referred Customers
What does “better” mean?
For AAA...
For AAA...
For a leading bank…
For a leading bank…
For a leading bank…
#1 source of new to file Significant source of 36 – 48mo re-activations
3x conversion rate
For a top retailer…
And the gold standard of customer quality…
And the gold standard of customer quality…
They are more likely to refer new customers.
•
•
•
0%
4.5%
9%
13.5%
18%
Retailer 1 Retailer 2
3.2x
5.3x
Customers who are acquired through referral subsequently refer at 3x or more the rate of ordinary customers
We call it the R-factor The rate at which a customer
refers other customers
More customers
More customers Better customers
