Free Sales Referral Review Template
Sales Referral Review
|
Prepared by: [YOUR NAME] |
Date: [DATE] |
Department: [YOUR DEPARTMENT] |
Executive Summary
The Sales Referral Review provides an analysis of the referral program's effectiveness in generating leads and sales for [Your Company Name]. This report outlines the referral sources, lead quality, conversion rates, and recommendations for improvement.
I. Referral Program Overview
A. Referral Program Definition
The referral program encourages existing customers and partners to refer potential clients to [Your Company Name] in exchange for incentives.
B. Referral Sources
Total Referrals: 671
Sources of Referrals: 652
II. Lead Quality Assessment
A. Lead Quality
In our lead quality assessment, we've categorized the leads generated through the referral program into three main categories: Gold, Silver, and Bronze.
B. Conversion Rates
Our analysis of the conversion rates from referral leads to paying customers over the past quarter reveals the following insights:
III. Referral Program Performance
A. Incentives and Rewards
Our current incentive structure includes offering referrers a [10%] discount on their next purchase for every successful referral. Additionally, we provide a special gift to those who refer three or more customers.
B. Tracking and Reporting
Our tracking tools consist of a comprehensive CRM system that monitors every step of the referral process. We use custom dashboards to track the number of referrals, their status, and the conversion rates associated with each referrer.
IV. Recommendations
A. Program Enhancement
To enhance the referral program's performance and lead quality, we recommend the following:
-
Segmented Incentives: Consider segmenting incentives based on lead quality. Providing higher rewards for Gold leads to motivating referrers to bring in higher-quality prospects.
-
Referral Training: Offer training and resources to referrers to help them identify and refer leads that align with our target audience.
B. Incentive Adjustments
To increase referral engagement, we suggest the following adjustments to the incentive structure:
-
Tiered Rewards: Implement a tiered reward system where referrers earn progressively higher incentives for each successful referral. For example, a higher discount or exclusive offers for multiple referrals.
-
Recognition: Recognize and celebrate top referrers with special status or exclusive perks to incentivize continued engagement.
Conclusion
The Sales Referral Review evaluates the effectiveness of [Your Company Name]'s referral program in generating leads and driving sales. By addressing lead quality, conversion rates, and program enhancements, [Your Company Name] aims to maximize the program's potential for growth.
For further details and action plans, please contact [Your Name] at [Your Number] or [Your Email].
