Raúl Galera is the Partnerships and Business Development Lead at ReferralCandy, an app that helps online and offline businesses acquire new customers and retain existing ones through incentivized referrals. ReferralCandy is the leading platform in referral marketing, helping over 30,000 ecommerce brands leverage word-of-mouth marketing. Raúl joined the company in 2016 and built a partnership program that adds value to marketing agencies, affiliates, media outlets, and other tech companies in the ecommerce industry.

Referrals are a great way to maximize revenue. When executed correctly, you can utilize your customer base to drive sales. So, how can you optimize referral programs to acquire new customers and increase your retention rate?

According to Raúl Galera, the average referral rate for any company is 2-2.5%. To leverage the full potential of referrals and improve this statistic, he recommends implementing an open referral program to convert website traffic into new customers. This requires placing incentives such as discounts and codes on your landing page. It’s also essential to inform existing customers of your programs to ensure optimal results.

In today’s episode of the eCommerce Profits Podcast, Joshua Chin interviews Raúl Galera, Partnerships and Business Development Lead at ReferralCandy, about creating profitable referral programs. Raúl shares tips for creating innovative referral programs, how to maximize referral rates, and the difference between public and private referral programs.