April 2023 — The Best Company Referrals Module automates the process of turning your satisfied customers into referring customers. Early adopters have obtained higher-quality leads through this software, resulting in a lower CAC.
Best Company's new software automates the referrals process
Best Company recently announced the launch of its new Referrals Module to help businesses combat the recent rise in CAC (customer acquisition cost).
The Best Company Referrals Module is software that completely automates the referral-generation process, turning a business’ happy customers into referring customers.
Businesses can either upload a customer list or the Referrals Module can use API and webhooks to integrate with their CRM (customer relationship management), allowing them to choose a point in the customer journey to trigger the referral process. From there, the referral collection, outreach, and qualification process happens automatically.
Best Company’s team is able to get the integration and automation set up for businesses in a matter of a few hours.
The Referrals Module is also complete with performance dashboards, ROI (return on investment) tracking, customizable payouts, and personalized messaging. With these tools, businesses and Best Company work together to gauge effectiveness and optimize campaigns.
Better Earth, a solar installation company based in California, participated in the beta of the Referrals Module and was impressed by the results. Jeremy Nicholson, VP of Sales at Better Earth, explained, "The referral module helps elevate every sales rep. I think it does the work that every top performing sales rep should do but allows it to be a repeatable process for every sales rep in your organization."
In a few months, Better Earth achieved lowered customer acquisition costs, magnified sales rep performance, an optimized referral algorithm, and an improved customer journey. In total, 15% of requests sent a referral, 41% of referrals set an appointment, and 73% of appointments closed.
Due to higher closing rates and longer lifetime values, referrals are of better quality than leads acquired from other sources, especially for brands selling high-consideration products. The largest problem with successfully implementing a referral program is its adoption by employees. The automated approach taken by Best Company eliminates this difficulty and hands sales teams warm leads that cost less and close more.
About Best Company
Best Company was established in 2016 with a mission to empower consumers to connect confidently with companies and businesses to maximize their brand’s reputation. Best Company for Business, its SaaS product, is a word of mouth marketing platform for generating reviews, referrals, and marketing assets from satisfied customers, providing three solutions in one system to create a complete marketing funnel built on trust. Best Company helps businesses of all sizes and departments.