Referral marketing is huge. No question about it.

The trick is to turn the happiest buyers into convincing cheerleaders of your business. And if a research report by the University of Pennsylvania’s Wharton School is anything to go by, the resultant referrals are not only easier to convert, but they’ll also proceed to spend more than regular customers leads.

In the end, referred customers outshine their non-referred counterparts by 16% when it comes to the average lifetime value. Plus, the[...]