Recommendations are increasingly superseding traditional ads in popularity. In fact, The Australian Customer Referral Marketing Report 2024 reveals that 58% of consumers said someone they know personally is their most trusted source of information when purchasing. Comparatively, only 3% of shoppers see ads as the most trusted source of information when making a purchase decision.
However, if you want to start a new referral program or optimize an existing one you’re likely to run into a few obstacles, such as deciding on program design and what rewards to offer,
This report has key consumer insights to help you overcome these challenges so you can create a powerful referral program that scales and grows with your business. Dig into what customers really want in referral programs: higher reward values, user-friendly programs, and education on referral programs.
Some top insights from this report:
- 81% of consumers indicated recommendations and referrals are important in their buying decisions.
- Over 4 in 5 consumers learn about new brands during conversations.
- 41% of consumers participate in referral programs, while 59% of consumers don’t participate
- Higher reward values and simple-to-use programs would encourage more consumer participation in referral programs
