Referral marketing is a powerful way to acquire new customers and grow your business. By leveraging the power of word-of-mouth, you can reach a wider audience and generate more leads. If you’re planning an international SMS referral campaign, there are a few key metrics that you’ll need to track to measure its success. 1. Viral coefficient (K-factor) The viral coefficient is a measure of how quickly your referral campaign spreads. It’s calculated by taking the average number of new referrals generated by each existing customer.
A low K-factor means that your campaign
Participant conversion rate The participant conversion rate is the percentage of people who receive your referral invitation and actually E-Commerce Photo Editing sign up for your product or service. A high participant conversion rate means that your referral invitation is resonating with people and convincing them to take action. A low participant conversion rate means that your invitation is not effective. 3. Participant share rate The participant share rate is the percentage of people who share your referral invitation with their friends and family.
A low participant share rate means that your program
Invitation click-through rate The invitation click-through rate is the percentage of people who receive your referral invitation and India Lead actually click on it. A high invitation click-through rate means. That your invitation is getting by people. A low invitation click-through rate means that your invitation is not getting seen. 5. Invitation conversion rate The invitation conversion rate is the percentage of people. Who click on your referral invitation and actually sign up for your product or service.