Track a Referral Program

Learning Objectives

After completing this unit, you’ll be able to:

Explain how to use dashboards to make key business decisions.
Use predictive analytics to identify segments and maximize reach.

Track Member Participation

After the program goes live, measure its success by monitoring key metrics like referral conversion rates and revenue generated from referrals.

You can track programs and promotions on these dashboards.

Referral Marketing Performance
Referral Analyze
Promotion Performance Analysis
Likely to Refer

A Promotion Performance dashboard is available through Tableau Next dashboards, giving you another way to access actionable insights into your referral programs.

Let’s explore each dashboard.

Analyze Marketing Performance

Yasmin wants to analyze the overall program progress, including referrals, performance over time, and advocate participation.

On the Referral Marketing home page, the Referral Marketing Performance dashboard shows data on customer participation and referral conversion trends.

This dashboard has three components.

Referrals and Referral Conversions
Program Performance over Time
Advocate Participation and Referral Channel Performance

The screen shows the Referrals and Referral Conversions component of the dashboard.

The member participation rate is 80%, which means that 40,000 out of 50,000 members have signed up for the program. Advocates made 29,000 referrals, out of which 41% have signed up. However, only 17% of the referrals have made a purchase. This low conversion rate may be due to the newness of the program.

Because promotions have associated costs, Yasmin monitors performance in the Program Performance over Time component. For example, she examines the weekly or monthly trends in promotion revenue and liability. If the program runs multiple promotions, analyze the performance of each one individually.

Here’s a view of the Give $20, Get $20 promotion’s performance.

For the ongoing promotion, the ratio of liability to revenue is good. The revenue peaked in the third week, possibly due to it being the weekend before the holidays.

Next, Yasmin wants to examine sign-up trends so she can allocate resources effectively and focus on the most fruitful channels. She also examines patterns in advocate participation to help understand advocate profiles.

The Advocate Participation and Referral Channel Performance component is integrated into the Referral Marketing Performance dashboard. This component has two sections: Sign Ups by Referral Channels and Advocates by Participation.

The Sign Ups by Referral Channels section shows the distribution of sign-ups.

The majority of sign-ups are through email, which means the email marketing strategy is working well.

The second section, Advocates by Participation, acts as a leaderboard, showing the top five advocates and average referrals for each one.

View the participation either by the number of referrals or the revenue generated.

Now it’s time for Yasmin to explore the Referral Analyze and Promotion Performance Analysis dashboards.

View Referral Program Analysis

For a quick summary of the program performance, she uses the Referral Analyze dashboard that’s embedded in the referral program record page.

Here, she gets an overview of the number of new referrals and customers with purchases.

She also sees trends in program revenue.

Review Promotion Performance

Similar to the previous dashboard, use the Promotion Performance Analysis dashboard for quick analysis of specific promotions. This one’s embedded on the promotion page.

View the number of new customers who have enrolled in the promotion and the referrals they’ve generated.

With 75% participation and an overall upward trend, the promotion is in a good place.

She can also analyze the promotion revenue and liability generated by existing and new customers.

Based on all the data she’s gathered so far, Yasmin summarizes that the results are as expected. However, she wants to improve participation by extending the promotion's target audience. To identify more customer segments, she uses the Likely to Refer Analytics dashboard.

Explore Likely to Refer Analytics

Yasmin can narrow the target segment to people most likely to bring in referrals. Referral Marketing Analytics integrates with Einstein Discovery and provides data analysis, predictions, and improvements in the form of a dashboard. The Likely to Refer Analytics dashboard scores advocates and non-advocate contacts based on their likelihood of referring friends.

In this case, most advocates with a likely-to-refer score of 70 to 100 are from Texas and have been active advocates for over two years. Creating a region-specific promotion may boost engagement.

Yasmin decides to create a referral promotion for the identified audience to drive the maximum impact. She adds the audience as campaign members and selects these members as the target audience in the promotion. She then crafts a personalized communication strategy, which includes targeted email and exclusive rewards.

Wrap Up

Referral Marketing turns loyal customers into advocates who bring in friends. You can create a referral program, set voucher rewards and a promotion, and back it with email and a Refer a Friend widget. After you activate the promotion, journeys run the invite-to-reward path. Dashboards and Likely to Refer Analytics then show what is working so you can target the next audience with more precision.

Over time, Cloud Kicks Referral Program garners a large number of customers with rising participation and referral revenue. The first promotion delivered rising participation and referral revenue. Using Likely to Refer scores, Yasmin is now planning a Texas-focused follow-on so the next wave of advocates is the group most likely to refer.

When you’re ready to go further, map a promotion for your brand.

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