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You might have often wondered, “what’s the best way to find new customers?”

While there is no one-size-fits-all answer to that, referral programs generally work for businesses of all types and sizes.

The good thing?

There are several referral marketing software up for grabs on the internet today.

A successful referral program can help you acquire high-value leads at a low cost, improve customer retention, and crush your revenue targets.

Sounds too good to be true?

Well, novelty mattress brand, Casper saw a 13% increase in their conversion rate and a 7x higher marketing ROI.

How, you may ask?

A kickass customer referral program.

So, in this article, I’ll take you through 12 of the best referral marketing software for your business. I have included as much product information as possible, and I’m positive that this will help you choose the referral marketing software that you need.

Ready to get started?

Best Referral Marketing Software to Consider for Your Business

Word of mouth marketing presents businesses with the unique opportunity to grow their revenue, along with bagging a shortcut to earn customer trust.

According to Ambassador, 82% of Americans look to friends and family for recommendations before making a purchase.

That’s a huge number!

It also goes on to explain why referral marketing programs are all the rage right now.

Now, kickstarting a referral program can be a lengthy process.

But what if you could outsource all that work?

A referral marketing software solution will help you do just that. Simply input the details of your program into the right referral marketing software, and start winning new customers!

Now, let’s go over some of the best referral marketing software out there.

While we can’t give you a complete rundown of each referral marketing software, we’ll touch upon the most important aspects—enough to help you make a decision.

1. Referral Factory

Image via Referral Factory

Referral Factory is one of the best referral marketing software for small to medium-sized businesses.

Widely touted for its spectacular templates, this referral marketing software embraces a simplistic approach to building referral solutions without the need for technical knowledge.

As the leading referral marketing software for businesses of all sizes, Referral Factory makes it easy to create and track referral programs, identify your best advocates, and measure the results of your referral marketing campaigns.

The best part is that the referral marketing software is flexible and easy to use even for those with no coding or technical expertise.

Take a look at what else makes Referral Factory one of the best referral marketing software.

Features

• It comes with more than 1,000 referral program templates that can be customized to include your logo, colors, and fonts.
• Simple drag and drop program builder that makes it a breeze for anyone to build an effective referral program.
• A visual dashboard that makes it easy to manage and monitor referrals easily.
• Flexible rewards such as cash, coupons, goodies, vouchers, and more.

Pros

• Several integrations that take the manual work out of your referral program.
• The option to run referral programs in 19 different languages.

Cons

• Users need to upgrade to higher-tier plans for basic features such as access to fraud alerts.
• Referrers cannot see who they have referred.

Tool Level

• Beginner/Intermediate

Usability

• Extremely easy to use even for those with little to no technical knowledge.

Price

Like many of the best referral marketing software, Referral Factory comes with a 15-day free trial with no need for a credit card. Check out its paid plans:

• Starter: $95 per month
• Basic: $200 per month
• Pro: $300 per month
• Enterprise: $1400 per month

Pro Tip: Opt for a free trial, a free expert consultation, and a free demo to see how the tool works before investing any money into it.

2. Talkable

Image via Talkable

If you are an eCommerce brand looking to improve your sales conversion rate, Talkable is the referral marketing software you need. This tool guarantees 1 in 10 customers to become a brand ambassador, with 52x ROI for enterprise customers.

So how does it help you achieve that?

Talkable's software is easy to use and offers a variety of features, making it the perfect solution for businesses of all sizes. With Talkable, you can create referral codes, customize your referral widget, and track referrals and results in real-time.

Let’s see what else it has to qualify as one of the best referral marketing software.

Features

• Talkable enables users to unlock powerful customer insights through in-depth data analysis.
• Extremely advanced fraud detection so that nobody can bypass the rules of your program.
• Users can easily A/B test hypothesis algorithms making it easier to monitor key performance indicators.

Pros

• The referral marketing software integrates with any eCommerce platform with the help of a simple Javascript tag.
• Every Talkable user gets access to a team of growth experts that helps them launch and manage campaigns.

Cons

• Talkable is a high-commitment tool that isn’t suitable for small businesses. It primarily works for eCommerce brands with $4M+ in annual revenue.
• A bit pricey with no details on pricing plans on its website and no free trial.

Tool Level

• Intermediate/Expert

Usability

• Talkable is a bit difficult to use and generally requires expert developers to create campaigns.

Case Study

• Human performance company WHOOP was looking for a cost-effective way to boost customer acquisition and retention.
• The Talkable team had robust referral programs up and running for the company within 10 business days.
• The referral campaigns now drive >10% of new subscription signs ups for WHOOP.

Price

Unlike most referral marketing software listed here, Talkable doesn’t come with a free trial. It offers four paid plans:

• Light
• Standard
• Plus
• Premium

For further information on costs, you need to contact the vendor.

Pro Tip: Hit up Talkable’s Client Success Team for some juicy best practice insights.

3. ReferralCandy

Image via ReferralCandy

For those just getting started with customer referral programs, ReferralCandy is Godsent. Although its features aren’t as advanced as its competitors’, it is trusted by over 30,000 online stores.

Why, you may ask?

Well, this referral marketing software solution allows you to create your own referral programs at an incredibly low cost.

And, as expected from the best referral marketing software, ReferralCandy allows you to automate your programs and create custom referral campaigns. Some of the impressive features of this referral marketing software include automatic email triggering, customizable email templates, and detailed reporting.

Features

• ReferralCandy provides the option to automate referral programs by inviting customers at chosen times such as after checkout.
• Unearth top referrers and see what they’re saying about your brand on social media.
• Easily customizable design templates.

Pros

• It connects easily to eCommerce and marketing platforms in just a few clicks.
• An exceptional customer service team giving users even more bang for the buck.
• Referral programs are designed to work beautifully across various devices.

Cons

• ReferralCandy charges a set percentage of commission on referral sales which increases costs.
• Unlike the best referral marketing software, ReferralCandy doesn’t offer A/B testing.
• It doesn’t have multi-campaign capabilities—you can only run one campaign at a time.

Tool Level

• Beginner

Usability

• ReferralCandy is extremely simple to use with no learning curve.

Price

Users can opt for a free trial for 30 days.The referral software solution comes with two paid plans:

• Premium: $39 per month + up to 5% commission (billed monthly)
• Plus: $239 per month +1.5% commission (billed annually)
• Enterprise: Custom pricing

Pro Tip: New to referral marketing? At ReferralCandy, you’ll have a dedicated account manager to ensure you’ve got support at every step of the way.

4. Ambassador

Image via Ambassador

One of the best referral marketing software, Ambassador comes with a fully loaded suite of features.

So, what makes Ambassador a leader in this space?

The fact that it isn’t just a referral marketing software, but also helps maximize ROI on your affiliate marketing. program. In addition, it is also one of the most effective influencer marketing platforms.

You can rely on this referral marketing software to fast track advocate and campaign management, awards, email communication, as well as analytics and contact management.

Features

• Ambassador comes with easy-to-use templates that are well-optimized for mobile devices.
• Out-of-the-box CRM, eCommerce, and billing integrations.
• The software offers an ROI calculator that enables users to gauge the scope of referral marketing for their business. This also helps set a benchmark, making it easier to track progress.

Pros

• Ambassador offers innovative solutions to reward clients.
• It supports multiple currencies and multiple languages.

Cons

• The options to customize campaigns are pretty limited.
• It can be an expensive referral marketing software if you only need to avail of some features.

Tool Level

• Intermediate

Usability

• Launching your own referral program can be a bit hard at first.

Case Study

• Financial services organization StockX approached Ambassador in quest of reaching more people, acquiring more customers, and growing its revenue.
• Thanks to Ambassador’s influencer promotion campaign—StockX was able to earn 11,737 website visits, 1614 new customers, and $441,488 in new revenue.

Price

• No free trial is available for Ambassador. While the tool offers three paid plans, you will need to contact the sales team to get pricing information.

Pro Tip: Trust the Ambassador Developer Hub for comprehensive guides and documentation to get you acquainted with the tool immediately.

5. Mention Me

Image via Mention Me

Our list of the best referral marketing software wouldn’t be complete without talking about Mention Me. The platform has delivered 4 million referrals valuing £1bn for fast-growing businesses globally.

How?

Thanks to its spectacular features and its unique pricing model. Keep reading to learn more…

Features

• One of Mention Me’s most unique features is name sharing. In a nutshell, this allows referrers to share their names as referral codes instead of complex, hard-to-remember ones.
• The ability to leverage strategic customer segmentation.
• Users can uncover rich referral data and get bespoke reports on metrics that matter.

Pros

• A highly flexible referral marketing software platform that offers easy adaptability to changing market trends and business objectives.
• A revenue-based payment model making sure you only pay for what you gain.

Cons

• This referral marketing software doesn’t let you launch or edit your campaigns yourself. Once they take account of your requirements, the Mention Me team handles everything, which can leave you with less autonomy.
• They have minimum sales volume requirements.

Tool Level

• Intermediate

Usability

• Since Mention Me has a different approach to building campaigns and pricing models, using the referral marketing software can be a bit tricky.

Price

• Users typically pay a certain fee for each new customer that comes through the referral program. In addition, there are one-time setup costs for launching the referral marketing program.

Pro Tip: Mention Me offers 16 sharing methods for its refer a friend program. Make sure you test all of these over time.

6. Friendbuy

Image via Friendbuy

Friendbuy’s referral marketing software is the perfect way to increase customer loyalty and advocacy for your business. With Friendbuy, you can easily create and manage referral programs that will engage your customers and encourage them to spread the word about your business. And with powerful tracking and reporting features, you can see exactly how your referral programs are performing and make changes accordingly.

If you're looking for a way to take your customer loyalty to the next level, Friendbuy is one of the perfect referral marketing software to use.

Take a look at its features, pros, and cons before you make a decision to invest in referral marketing software such as Friendbuy.

Features

• Templates for making referrals via SMS, email, personalized links, and social.
• Customizable widgets and referral forms to increase sign-ups
• Referral dashboards display invitations and earnings
• Automated reward fulfillment
• Real-time analytics

Pros

• Data privacy compliance
• Powerful integrations
• Automated rewards on referrals.

Cons

• Referral templates have limited customization options
• The dashboard’s user interface needs improvement

Tool Level

• Beginner

Usability

• Easy to use

Price

• Starter: $249 per month
• Deluxe: $749 per month
• Enterprise: Custom pricing

Pro Tip: A/B test SMS copy, email subject lines, or offers to see which referral campaigns will yield the best results.

7. Referral-AI

Image via Referral-AI

Referral-AI's software is designed to help businesses automate and optimize their referral marketing programs. The cutting-edge referral marketing software includes a range of features that allow businesses to track referrals, manage rewards, and generate new leads.

Apart from B2B sales intelligence, Referral-AI analyzes the collective relationship network in your organization to optimize referrals to top prospects. Using machine learning and AI, the referral marketing software scours the internet to map the best paths to an entity or individual.

Referral Management and bulk search tools let you easily manage referrals.

The best part? The users of this referral marketing software can take advantage of motivated referrals, such as their partners, colleagues, and investors, to connect to decision makers.These referrals are driven to assist you with a warm recommendation, making your job easier.

Let’s see what else it offers to qualify as one of the best referral marketing software.

Features

• Machine-learning technology (patent pending) analyzes data sources to recommend the best referral paths
• AI identifies the individual with the strongest relationship to target accounts
• Bulk search and lead capture tools help you capture quality leads from referrers, so they can be followed up with and converted into customers.
• Nurture leads by automatically sending them educational materials, coupons, and other incentives
• Referral tracking to see which ones are generating the most sales.
• Analyze referrals to improve their referral marketing campaigns.

Pros

• An advanced AI and machine-learning powered referral marketing software that removes the guesswork out of finding the best pathway to referral marketing

Cons

• No automated referral reward system
• Pricing information not available on the website

Tool Level

• Beginner

Usability

• Easy to use

Price

• Unlike most tools in this roundup of the referral marketing software, Referral-AI does not display pricing information on its website. Contact the sales team for pricing information.

Pro Tip: Create multiple lists of leads and save strong referral paths. Referral-AI will alert you if a path with a higher or similar score is found.

8. InviteReferrals

Image via InviteReferrals

InviteReferrals is a powerful referral marketing software that helps businesses increase sales and drive growth. With InviteReferrals, businesses can create referral programs that incentivize customers to refer friends and family.

Referral programs created with InviteReferrals can be customized to fit the needs of any business, and the software makes it easy to track referrals, payments, and conversions.

InviteReferrals also offers a number of features that make it easy for businesses to get the most out of their referral programs. With features like automated email drip campaigns, referral tracking, and customizable referral links, businesses can maximize the reach and impact of their referral programs.

If you're looking for a well-rounded  referral marketing software, InviteReferrals is a great option.

Features

• Referral Program Widgets adapt themselves to any platform inlcuidng website, desktop, mobile, Facebook, and emailers
• Unified dashboard offers key statistics including referrers, referral visits, invites, top influencers, and referral installs.
• A wide range of social sharing and referral options including email, WhatsApp, and popular social media channels

Pros

• No coding knowledge required to design custom campaigns
• Personalized coupon assigned to referrer that can be tracked to reward them automatically
• Supports over 25 languages

Cons

• InviteReferral is among the referral marketing software to offer a plethora of features. Getting used to these features can be overwhelming for new users.
• Limited referral program templates

Tool Level

• Intermediate to expert

Usability

• Involves a learning curve.

Price

• Basic: $99 per month
• Standard: $249 per month
• Enterprise: Custom pricing

Pro Tip: Identify your top referrers and reward them when your campaign ends or for every referral, registration or site visit.

9. InviteBox

Image via InviteBox

If you are looking for referral marketing software that offers multiple ways to reward your referrers, you can give InviteBox a try.

The simple, yet effective referral marketing software offers an easy way for businesses to acquire and retain customers through referral marketing campaigns. The multiple types of rewards you can set include instant rewards when a referrer shares a link, goal-based rewards, sweepstakes, and contests.

Easy integration with MailChimp helps you can easily sync your email contacts and send personalized emails to them.

That’s not all. By installing the relevant scrips and widgets, you can track a host of metrics including referral activity, conversions, and more.

In short, if you're looking for a referral marketing software that can help you grow your business, InviteBox is the perfect solution.

Check out its features to know if this is the right referral marketing software solution for your business.

Features

• Multiple ways to reward referrers including instant rewards, giveaways, goal-based rewards, sweepstakes, and referral contests
• Quick campaign set up and configurable campaign mechanics
• InviteBox Dashboard offers insights into campaign metrics in addition to email notifications
• Integrates with MailChimp and WordPress

Pros

• Multiple referral rewards
• Social media integration
• Actionable analytics
• Responsive customer support

Cons

• Developer support may be needed to customize widgets

Tool Level

• Intermediate to expert

Usability

• Moderately easy to use

Price

• Startup: $29 per month
• Small Business: $59 per month
• Unlimited: $199 per month

Pro Tip: To track actual sales, just install the conversion tracking script on your purchase confirmation page.

10. Genius Referrals

Image via Genius Referrals

Looking for  referral marketing software with all the features you need to run a successful referral program? One of the referral marketing software solution you can try is Genius Referrals.

The software has everything you need to get started, including automated referral campaigns, easy link sharing on various platforms, insightful analytics and streamlined campaign management.

What’s more, you can set up your referral marketing program in minutes once you sign up for a free trial. You can select the tiers and restrictions and pick referral templates from the design center to  to design your custom referral campaigns.

Let’s see what other features the referral marketing software solution offers.

Features

• Advocate’s dashboard to keep track of key metrics including clicks, shares, bonuses, and referrals
• Double-sided rewards enable both the referrer and advocate earn bonuses
• Scheduled and automatic payouts
• Links, social media, and email sharing
• Template library offers designs to customize the referral campaign

Pros

• Detailed campaign insights
• Multi-level and multi-tiered campaigns
• Double-sided rewards
• Easy to use referral campaign templates

Cons

• Customization requires knowledge of codes and scripts
• Difficult to download a custom list of referrers

Tool Level

• Intermediate to expert

Usability

• Although the tool can be difficult to use for those new to scripts and codes, responsive customer support comes to the rescue.

Price

• Startup: $29 per month
• Small Business: $59 per month
• Unlimited: $199 per month

Pro Tip: Leverage the referral marketing software to share links, leads, referrals, image assets, and statistics with your partners and kickstart your B2B partner program.

11. Referral Rock

Image via Referral Rock

Marketers who want a referral marketing software solution that doubles as a CRM tool will find Referral Rock an ideal tool.

The robust integrations with popular CRMs and marketing platforms is one of the strengths of this referral marketing software.

In addition, you can use Referral Rock, to create beautiful referral pages, track leads and conversions, and incentivize your customers and ambassadors with rewards.

Features

• Widgets that are easy to embed in the app or in mobile for seamless interaction
• Personalized and automatic email invites based on actions taken by advocates
• Multiple incentives including tiers, time-based, percentage based, recurring, and custom rewards
• Standalone advocate portal and referral landing page
• Visual editor and custom branding across domains, emails, and links

Pros

• Dedicated referral experts offer onboarding support
• One-click sharing
• Configurable reward options
• Easy integration with CRM platforms
• Widgets are easy to install

Cons

• Limited reporting capabilities
• Can be expensive for small businesses

Tool Level

• Beginner

Usability

• Easy to use

Price

• Starter: $200 per month
• Growth: $400 per month
• Established Business: $800 per month

Pro Tip: Give your referrers pre-drafted messages and personalized advocate codes that are easy to share.

12. SaaSquatch

Image via SaaSquatch

If you are in the telecom, SaaS, consumer apps, or other tech-related field, SaaSquatch is the referral marketing software you can rely on .

Created for tech businesses, SaaSquatch offers a wide range of tools you can use to easily create custom referral campaigns. Apart from creating and tracking referral programs, you can incentivize customers and employees to refer your business.

The referral marketing software has an easy-to-use drag-and-drop builder and a library of templates you can use to craft a branded user experience.

Wait, there’s more. Detailed tracking and integration with popular CRM and marketing platforms such as Salesforce and Zapier are the other USPs of this referral marketing software solution.

In short, if you're looking for a referral marketing solution that can help your SaaS/tech business grow, SaaSquatch is a great option.

Take a closer look at its features to confirm that it is one of the best referral marketing software for your business.

Features

• Drag-and-drop referral campaign builder and HTML/CSS to build custom campaigns
• Multiple ways to reward including custom rewards via third party integrations, credits, gift cards, points, and product upgrades
• Native integrations allow you to offer free trials, account activations, and B2B sales
• Gamification through leaderboards
• Ready-to-use library of widget templates to create a branded reward experience

Pros

• Seamlessly integrates across devices
• Supports complex user journeys
• Enterprise-level security
• Diverse, automated reward offerings

Cons

• Reporting features lack flexibility in terms of exportable lists of referrals
• Expensive compared to most referral marketing software listed in this blog post

Tool Level

• Beginner

Usability

• Easy to use

Price

• Referral: Starts at $1750 per month
• Loyalty: Starts at $1750 per month
• Lifecycle: Custom pricing

Pro Tip: Leverage SaaSquatch’s loyalty program to reward customers for special events such as birthdays and renewals.

FAQs

Q1. What is referral marketing?

A. Referral marketing is a tactic that relies on word of mouth and recommendations. In simple words, referral marketing involves a person recommending a product (or service), and the referee making a purchase based on that recommendation.

Q2. What are the best referral marketing software?

A. Some of the best referral program software are:

• Referral Factory
• Talkable
• ReferralCandy
• Ambassador
• Mention Me
• Friendbuy
• Referral-AI
• InviteReferrals
• InviteBox
• Genius Referrals
• Referral Rock
• SaaSquatch

Q3. How do I set up a referral for marketing?

A. Referral marketing is a powerful tactic to win new customers and grow your business. Here are some steps you can follow to set up a referral for marketing:

• Chalk out your goals.
• Find out how referrals are currently coming to your business.
• Determine what the ideal ‘referer’ for your company looks like.
• Invest in a referral marketing software.
• Come up with an outreach plan.
• Decide on the referral incentives you’ll offer.
• Tell your customers about it.
• Track the referrals.

Q4. What are the top 3 referral marketing software?

A. The top 3 referral marketing software are:

• Referral Factory
• Ambassador
• Talkable

Q5. What type of marketing is referral?

A. Referral marketing is a type of word-of-mouth marketing. It’s a tactic that focuses on incentivizing existing customers to introduce a business to their friends, family, and contacts.

Q6. How do you automate referrals?

A. Automation can help you scale your referral programs seamlessly. While there are several ways to do this, the easiest and most effective one is to invest in a referral marketing platform of your choice.

Q7. How do you market a referral program?

A. There is no one-size-fits-all solution for marketing your referral program. However, here are some ideas you can consider:

• Reach out to existing customers to join your referral program.
• Talk about your referral campaign on social media.
• Feature the program on your website.
• Have influencers create a buzz around your referral program.
• Leverage email marketing to create awareness about your program.

Q8. Are there any free referral marketing software?

A. There are several free referral marketing software you can choose from. However, they might not be as effective as paid ones. Paid tools not only come with better features but will also ensure that your data is secure.

What’s more, the new customers you acquire through these software will compensate for the costs.

Q9. What are the benefits of referral marketing software?

A. Referral marketing software can help you set up and launch a referral program in just a few hours. They can track each referrer’s performance and payments. What’s more, they also act as lead generation software to help you generate quality leads for your business in a way that’s both easy and cost-effective.

Q10. Which is the best referral software for small business?

A. Some of the affordable referral software designed for small businesses and startups include:

• Talkable
• InviteBox
• Genius Referrals
• Referral Factory

Start Building Your Referral Marketing Program Today

Referral marketing is an extremely powerful tactic for businesses to grow.

Still wondering why?

Long story short: it’s a win-win situation for all—the referrer, the referee, and of course, the business itself.

So, the sooner you start building your own referral campaigns, the better.

To ease the process, invest in a referral marketing software of your choice.

Lay down your needs and budget, and compare the best available referral marketing software using this listicle.

Think we’ve missed any specific referral marketing software platforms in this article? Tell us in the comments below!