Employee Referral Programs

The job market has changed. What worked a few years ago doesn't work anymore. If you've been job searching for 3+ months with no real results? You need a new system. And if you want to win in today's market? That system better be focused on networking and referrals. Here's how we do it with our clients: 1. Make a list of 15 target companies These are companies you should intentionally choose because they align with your values, growth trajectory, and ideal culture. 2. Research the heck out of your target companies. Listen to earnings calls, read articles, find interviews with execs, & survey customers. 3. Use LinkedIn to find contacts who can refer you into your target role. Aim for someone who might be the hiring manager or a peer if you were hired. Find 150 contacts minimum (10 people at each company). 4. Use a tool like Mailscoop to find the emails for your contacts. Reach out to them and set up a conversation. Use the conversation to learn about things like: • Their team’s biggest challenge • Current initiatives • Goals for the next 12 months 5. Combine the info from your research and conversations to create a Value Validation Project (VVP). Think of a VVP as a pitch deck where you provide solutions to a problem, ideas around an initiative, or help with a challenge. It should be relevant and aligned to the work you’d be doing in that new role. 6. Send the VVP back to the contacts you had convos with and ask if those solutions aligned with their expectations for X role. 7. Rinse, repeat, and watch the referrals flow in!

One of my clients asked: “What’s the point of getting a referral when the resume goes to the same ATS system?” And I know many of you think referrals don’t work anymore! So, I’ll explain how it all works and why referrals help, even if the application ends up in the same system: [1] 𝐄𝐦𝐩𝐥𝐨𝐲𝐞𝐞 𝐑𝐞𝐟𝐞𝐫𝐬 𝐘𝐨𝐮: An employee submits their resume internally or to HR. [2] 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐑𝐞𝐯𝐢𝐞𝐰: Your application is marked as a referral, which usually means it gets prioritized for review. [3] 𝐇𝐢𝐫𝐢𝐧𝐠 𝐏𝐫𝐨𝐜𝐞𝐬𝐬: You’ll go through the regular hiring steps, but you might get faster interview scheduling. [4] 𝐈𝐧𝐜𝐞𝐧𝐭𝐢𝐯𝐞𝐬: If you’re hired, the employee could receive a bonus. Here’s why referrals help, even if the application ends up in the same system: [1] 𝐌𝐨𝐫𝐞 𝐕𝐢𝐬𝐢𝐛𝐢𝐥𝐢𝐭𝐲: Referred candidates get tagged or flagged as “employee-referred” and even bumped to a recruiter queue for prioritized review. [2] 𝐅𝐚𝐬𝐭𝐞𝐫 𝐑𝐞𝐯𝐢𝐞𝐰: Referrals get processed quicker since there’s an internal recommendation. [3] 𝐀𝐝𝐝𝐞𝐝 𝐂𝐫𝐞𝐝𝐢𝐛𝐢𝐥𝐢𝐭𝐲: The referrer’s support can give you an edge. [4] 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐀𝐝𝐯𝐨𝐜𝐚𝐜𝐲: The person referring you might push your application further along. How to get a referral: [1] 𝐅𝐢𝐧𝐝 𝐭𝐡𝐞 𝐉𝐨𝐛 𝐏𝐨𝐬𝐭𝐢𝐧𝐠: Look for openings on LinkedIn and check for connections before applying. [2] 𝐈𝐝𝐞𝐧𝐭𝐢𝐟𝐲 𝐄𝐦𝐩𝐥𝐨𝐲𝐞𝐞𝐬: Use LinkedIn to find employees in relevant roles. Prioritize connections or ask for introductions. [3] 𝐑𝐞𝐚𝐜𝐡 𝐎𝐮𝐭: If you don’t know anyone, send a friendly connection request.  Example: “Hi [Name], I’m interested in [Job Title] at [Company]. I’d love to connect and learn about your experience there.” [4] 𝐀𝐬𝐤 𝐟𝐨𝐫 𝐚 𝐑𝐞𝐟𝐞𝐫𝐫𝐚𝐥: Once connected, politely ask for a referral if you’re a good fit for the role. Example: “Hi [Name], I saw the [Job Title] role at [Company] and believe my experience in [field] makes me a great fit. Could you refer me?” [5] 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞 𝐘𝐨𝐮𝐫 𝐌𝐞𝐬𝐬𝐚𝐠𝐞: Mention something specific about their work or the company. [6] 𝐒𝐮𝐛𝐦𝐢𝐭 𝐘𝐨𝐮𝐫 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧: If they agree, they’ll refer you or guide you through the process. [7] 𝐅𝐨𝐥𝐥𝐨𝐰 𝐔𝐩: After a week, follow up politely if needed and thank them for their help. This process is simple and keeps you on good terms with your connections! Follow Sahaj Bana for more!

the "boring" marketing channels that outperform your flashy one-off campaigns (data from actual b2b companies). while everyone's chasing the latest tiktok trend or ai-powered whatevs, the unsexy channels are quietly delivering the best roi. here's what the data actually shows: 𝗿𝗲𝗳𝗲𝗿𝗿𝗮𝗹 𝗽𝗿𝗼𝗴𝗿𝗮𝗺𝘀: the silent revenue machine 84% of b2b decision makers say their buying process starts with a referral. yet most companies treat referrals like an afterthought. referrals have 3-5x higher conversion rates than any other marketing channel and 71% of b2b companies report higher conversion rates from referrals than other customers. but here's the kicker: only 11% of salespeople actually ask for referrals, even though 91% of customers say they'd give them. (stats from 👉 Referral Rock + Influitive + Propello) 𝗲𝗺𝗮𝗶𝗹 𝗻𝘂𝗿𝘁𝘂𝗿𝗲 𝘀𝗲𝗾𝘂𝗲𝗻𝗰𝗲𝘀: email is defs not dead. if marketing sends more than 8 emails between deal creation and closure, the close rate increases by 47%. yet 94% of emails are sent before any pipeline qualification - meaning most companies abandon prospects right when nurturing matters most. the average conversion rate from email marketing campaigns in b2b is 2.5%, but companies with solid nurture sequences see much higher returns because they're playing the longgg game. (stats from 👉 Powered by Search + HockeyStack) 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗺𝗮𝗿𝗸𝗲𝘁𝗶𝗻𝗴: 𝘁𝗵𝗲 𝗲𝘅𝗽𝗮𝗻𝘀𝗶𝗼𝗻 𝗴𝗼𝗹𝗱𝗺𝗶𝗻𝗲 this is the most overlooked channel. 75% of marketers use abm for customer marketing as it helps increase client retention rates. existing customers are 50% more likely to try new products and spend 31% more than new customers - yet most marketing budgets focus almost entirely on acquisition. (stats from 👉 Terminus (by DemandScience) UserGems 💎) 𝘄𝗵𝘆 𝗯𝗼𝗿𝗶𝗻𝗴 𝘄𝗼𝗿𝗸𝘀 - longer-term thinking = compound returns - relationship-focused vs transaction-focused - less competition for attention - sustainable without constant optimisation the flashy stuff gets the conference talks.  the boring stuff gets the revenue.

Transparency and trust – new client referral guidance for ADGM CSPs 📋🤝   As part of ADGM’s commitment to fostering a high quality CSP ecosystem, the Registration Authority has published guidance for ADGM CSPs on referral and agency arrangements.   The guidance discusses the following key requirements that a #CSP should consider before entering into a client referral or agency arrangement with a 3rd party: ✅ Transparency ✅ Acting in the interests of clients ✅ Fitness and propriety ✅ Conflicts of interest ✅ Monitoring and management of compliance   Generally, referral and agency arrangements where an ADGM CSP does not have direct access to or contact with a client are not compatible with the above requirements.   Background context: In April 2021, ADGM introduced a comprehensive regulatory framework for the provision of corporate services (in addition to existing AML requirements). The framework was strengthened in 2023 reflecting the critical gate keeper and client service roles that CSPs play. #ADGM #CorporateServices #Guidance #RegulatoryCompliance #BusinessEthics #Referrals #AgencyArrangements #AML #TCSPs #DNFBPs

Ever notice how that one customer who can't stop raving about your product or service is like a walking, talking billboard? Well, guess what? They're also your secret weapon for growth. It's like having a friend who tells everyone they know about this new restaurant they discovered. Word of mouth is powerful, especially for SMBs. So, how can you use that to your advantage? 👉🏾 Start by identifying your superfans—the ones who leave glowing reviews, refer their friends, and can't get enough of what you offer. Treat them like VIPs, and make them feel like a part of your inner circle. It could be as simple as sending them a personalized thank-you note or offering them exclusive access to new products or services. 👉🏾 Next, encourage them to spread the word even further. Ask them to share their experiences on social media, write testimonials, or participate in case studies. Their authentic stories and recommendations will resonate with potential customers far more than any ad campaign ever could. 👉🏾 Remember incentives. Consider creating a referral program using tools like Viral Loops, which rewards your loyal customers for bringing in new business. It could be a discount, a freebie, or a unique experience. Not only will this show your gratitude, but it will also motivate them to keep spreading the love. The beauty of this approach is that focusing on those who already love what you do will likely attract similar individuals who will become loyal fans. It's a win-win situation. So, stop overlooking your happy customers. Nurture those relationships, empower them to become your advocates, and watch your business thrive. #apollineadiju #ABM #b2bmarketing #demandgeneration

I wrote a book called The Referral Engine to make the case that referrals should be your #1 lead source—but there’s a catch. Early in my career, I thought doing great work was enough to keep clients coming. And for a while, it worked. One happy client led to another, and I stayed busy. Then, one day, the referrals slowed down. And I found myself wondering: Where’s the next client coming from? That’s when I realized something many business owners eventually figure out: Referrals don’t just happen. They have to be built into your marketing system. Too many businesses think referrals are random. They do great work, cross their fingers, and hope happy clients will spread the word. Yes, that better be happening. But that’s not a strategy. I started asking myself some different questions. ~ How do I make referring me the easiest thing my clients can do? ~ How do I teach my best customers to tell the right story about me? ~ How do I bake referrals into every stage of my client experience? Just thinking this way changed everything. Instead of waiting for referrals, I created a system to generate them. Here’s what I figured out. First, people don’t refer businesses. They refer experiences. If your work is just “good,” no one is talking about it. If your process is clunky, no one is bringing their best contacts into it. The easiest way to get more referrals is to create something worth talking about. Second, most people would be happy to refer you, but they don’t know how. If you want more referrals, you have to make it easy. Give people the right language to use. Create a process that naturally encourages introductions. Make referring you feel like a win for them, not a favor to you. Finally, the best way to generate more referrals is to teach before you sell. Create content that positions you as the expert people want to send their friends to. Be the person people naturally think of when someone asks, “Who do you know that does great work in this space?” When someone tells me their lead generation is inconsistent, I don’t tell them to start cold calling. I tell them to make referrals a system, not an accident. So I’m curious—what’s one thing you do to make referrals a natural part of the customer journey?

Why ₹100 Referrals Don’t Work in Tier 2 India And what actually does. A few years ago, I assumed referrals were a simple game: Give someone ₹100, and they’ll get 3 of their friends to sign up. That worked. Until I tried it in Tier 2 India. And not as successful. I spent the last few weeks studying failed and successful referral programs in Tier 2 & 3 India -from gaming and finance to health and edtech. Here’s what I learned 1. Trust > Transaction Referrals in smaller towns are personal. It’s not “Get ₹100 and refer your friend.” It’s “If I’m doing this, and I trust it — so should you.” A neighbour, a cousin, or a shopkeeper saying “Yeh achha hai” > beats any ad, any coupon. 2. Relationships, Not Rewards People here don’t refer for ₹100. They refer because they want their cousin to benefit. Their community to win. I call it the “If you win, I win” mindset. And you can’t buy that with small cash. 3. Hyper-Local, or Nothing Referral messages work "only" when they feel native: -Vernacular language  - Local idioms & festival cues  -Delivered via WhatsApp groups, temples, kirana stores One of the most effective campaigns I saw? Printed flyers handed out by teachers at local schools. 4. Recognition Beats Rupees A shoutout at a community event. A thank-you in a local Facebook group. A small badge for being the “top recommender” at a nearby clinic. That social reward outperforms cash in places where "reputation = ROI". So what’s the takeaway? If you’re designing a referral program for Bharat:  1/Anchor in community  2/Localize everything  3/Build for trust, not conversion  4/Use cash as a supporting nudge - not the hook Curious to hear from you: What’s a small growth experiment that failed - until you rethought the user’s world Let’s trade notes.

Referrals are by far the highest ROI channel for B2B businesses. So why aren’t you getting more of them? I use a dead-simple, but incredibly effective method to double my inbound referrals. 1 — Be Direct. The biggest mistake people make is relying on “automated emails” and “programs”. They take the easy way out because they are afraid. They wait for a follow-up email and send vague requests like, “If you think of anyone, let me know!” The reality is people don’t have time to brainstorm referrals for you! 2 — here’s what I do: make a specific and direct ask. And when possible, do it face-to-face right on the video call. Yes, you can do this over email, but asking directly, person-to-person, makes a stronger impact. 3 — Instead of leading with an ask, start by GIVING a lead first. Before ending a call, try this: “Before we wrap up, I’d like to give you two leads I think would benefit from your service. Would you mind sharing two people on your client roster who might find us interesting? I’ll send you a tailored email for easy forwarding.” Even better, do your homework: “I noticed these logos on your website. These two companies look like they’d be a great fit for us because [reason]. Would you mind making an introduction?” Be specific. Be proactive. Be intentional. What’s your go-to approach when asking for referrals? Let me know in the comments.

I have a portfolio company that consistently converts 1000 paying subscribers every month, and referrals are a key source of these new subscribers. Here are a couple of lessons we’ve learned: 1. Boost referral conversions by integrating PLG features early on. People often forget about referral programs, so use transactional or marketing emails as gentle reminders. 2. Maintain user awareness of the referral feature with a counter for referral conversions and send "congrats, your invitation was accepted" emails to celebrate successful referrals. 3. Introduce referral programs even during the waiting list phase before your product is fully launched. If your product solves a real problem, people will wait for it. Think about the Cybertrucks Tesla has yet to deliver despite the massive number of orders, or how long Oura ring buyers waited after Prince Harry was seen wearing one (I waited almost a year for mine!).

CRED has just rolled out Referral Rush, a referral program with exclusive benefits for next 24 hours. It's a flash sale for Referrals. Here's a breakdown of why this feature could succeed — or potentially fall flat. 🟢 Why it could work: ✅ Network Effects: Leveraging the trust users have within their own networks can result in higher sign-up rates. ✅ Strong Incentives: A well-structured reward system could motivate users to actively refer friends, boosting both user acquisition and engagement. ✅ Gamified Experience: With milestones and potential leaderboards, users might enjoy a competitive, fun experience. 🛑 Potential challenges: 🔺 Oversaturation: With many apps offering referral programs, will users find CRED's offer compelling enough? 🔺 High Costs: If rewards are too generous, the program could quickly become more expensive than the lifetime value (LTV) of referred users. 🔺 Retention Risks: There's always a chance that new users might sign up for the rewards but fail to stick around. 📊 If you were a PM for the Cred's Referral Rush program, you should have measured : 1️⃣ Number of Referrals & Conversion Rate 📊 2️⃣ Cost per Acquisition (CPA) vs. Lifetime Value (LTV) 💰 3️⃣ Retention Rate of referred users over time 🔄 4️⃣ Referral Activity Rate: How engaged are existing users in making referrals? 5️⃣ Virality Coefficient: Are referred users bringing in new referrals themselves? 6️⃣ Time to First Referral: Avg time it takes a new user to make their first referral after joining the platform. ⭑ Why Cred did it? In a space where cost-effective marketing is king, referral programs like this can deliver high ROI by reducing traditional marketing spend. By adding urgency with exclusive, time-limited rewards, CRED is banking on FOMO to drive quick, scalable growth. My take 👇 The big question is whether this translates into long-term engagement or just a flurry of short-term sign-ups. CRED will need to focus on retention strategies to ensure referred users remain active beyond just collecting rewards. What do you think? Will this referral strategy help CRED scale, or is it just another flash in the pan? 🔍👇 #Fintech #ReferralMarketing #ProductStrategy #UserAcquisition #CRED #ProductManager #ProductManagement