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Referral programs can be quite magic. <anchor>Research shows</anchor> that customers referred by other customers have a higher retention rate and are more likely to refer more customers to your brand.
The Importance of Referral Marketing – Statistics and Trends [Infographic] - Invesp
The Importance of Referral Marketing – Statistics and Trends \[Infographic\] - Invesp [Skip to content](#content)

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# The Importance of Referral Marketing – Statistics and Trends \[Infographic\]

- [Business & Growth](https://www.invespcro.com/blog/category/business/), [Infographics](https://www.invespcro.com/blog/category/infographics/)

![Lisa Ross](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%200%200'%3E%3C/svg%3E)

#### Lisa Ross

- 21 Sep

- 2 minutes

![Lisa Ross](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%200%200'%3E%3C/svg%3E)

#### Lisa Ross

#### Table of Contents

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Reading Time: 2minutes

Did you know that referral leads convert 30% better than leads generated from other marketing channels and have a 16% higher lifetime value?

Customers referred by other customers have a 37% higher retention rate and are 4 times more likely to refer more customers to your brand.

Check out our infographic “The importance of Referral Marketing” for the latest referral marketing statistics and trends.

**![The importance of referral marketing – Statistics and Trends](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20580%200'%3E%3C/svg%3E)**

**Infographic by- [Invesp Conversion Rate and Landing Page Optimization Services](https://www.invespcro.com/services/landing-page-optimization/)**

**To Publish this Image on your Blog or Website. Copy this code**

84% of people trust recommendations from people they know making referral marketing the most influential form of advertising

77% of consumers are more likely to buy a new product when learning about it from friends or family whereas 49% of U.S. consumers say friends and family are their top sources of brand awareness

Referral marketing generates conversion rates 3-5x higher than any other marketing channel

Only 30% of companies surveyed had a formalized referral program

78%  of respondents with running referral programs claimed that customers who were referred are more loyal than those acquired through other methods

More than 50% of people say they’re likely to give a referral if offered a direct incentive, social recognition or access to an exclusive loyalty program

The average small business gets 60% of its business from referral campaigns whereas 82% of small business owners have said referrals are their main source of new business.

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![Lisa Ross](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%200%200'%3E%3C/svg%3E)

#### Lisa Ross

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