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How Tracked Referrals Turn NPS Ratings Into Real Revenue

Dan Barraclough
By Dan Barraclough — September 26, 2024

Getting perfect 10s on your NPS surveys? Fantastic, but you’re only scratching the surface…

Your customers are raving about your brand, giving out perfect 10s on NPS and CSAT surveys. That’s amazing. But did you know that you’re only scratching the surface in terms of driving value from those customers? 

High NPS and CSAT scores are a fantastic starting point, but how do you know if your promoters are actually advocating and shouting about your brand? 

Below, we’ll explain how tracked referrals can bridge the gap between high survey scores and tangible revenue.


The misconception of high NPS/CSAT scores

Simply leveraging high survey scores isn't enough if you want to drive sustainable growth from your biggest fans. What if all those 10s aren’t driving any new business? What if they love your brand but keep it to themselves?

This is where tracked referrals make a difference.

They provide concrete evidence about how much a promoter is shouting about your brand. Without tracked referrals, segmenting and targeting all of your NPS 10s and hoping to drive profitable growth is like sifting for gold with a broken pan — you’re going to waste time and miss golden opportunities. 

Tracked referrals and advocacy insights are the gold standard of sifting pans, helping you catch and nurture your most valuable customers, without relying blindly on your high survey scorers.


How to turn high scores into high-value referrals

You know why to use tracked referrals: they help turn intangible NPS scores into real, measurable revenue streams.

But how does tracking referrals show you who’s spreading the word about your brand? 

Let’s break it down step-by-step using Mention Me as an example.

1. Launch a best-in-class referral programme

Start by launching a best-in-class referral programme. With Mention Me, you can use Name Share® alongside A/B tests to capture as many word-of-mouth referrals as possible. 

Name Share® makes referring effortless for customers, enabling them to refer friends using just their name at checkout — no links needed. It currently drives between 30% and 77% of referrals for some of our brands. 

Then, continuously optimise your referral programme through A/B testing, which typically delivers a 4x boost in customer acquisition for our brands in the first six months.

How Tracked Referrals Turn NPS Ratings Into Real Revenue-blogA/B testing enables you to continuously improve your referral programmes and maximise value from your customers

2. Integrate NPS scorers

But what about all your 9s and 10s? Do you simply forget about them? Absolutely not.

Using Mention Me, you can easily find and show to your NPS top scorers a message asking them to enrol in your referral programme. That way, you can capture as many promoters as possible.

3. Leverage advocacy insights

After you’ve started tracking referrals, it’s time to leverage your referral data to drive real value from your promoters. Mention Me offers AI data models designed to maximise insights from your referral data, including:

  • Predicted ECR (Extended Customer Revenue)
This Machine Learning model forecasts how your brand’s promotion will evolve over the next 12 months within your customer base and offers strategies to improve those predictions. 

It identifies which fans will continue to advocate for your brand, which may stop, and who future advocates might be, allowing you to target these segments with tailored experiences for better outcomes.

  • Propensity to Refer®
This data model segments customers based on their likelihood to refer at the point of purchase, helping you tailor the shopping experience to each group. 

High Propensity customers receive referral offers, while Low Propensity customers get alternative offers like discounts or newsletter sign-ups, optimising customer engagement for brand growth.

  • Network Insights

This tool uses referral data to uncover hidden networks of fans within your customer base. It helps you create unique experiences, communicate more effectively, and nurture groups of fans who can sustainably grow your brand.

network-insightsNetwork Insights shows you previously hidden communities of valuable customers

4. Continuously maximise value from your NPS 10s

With all this referral data at your disposal, you can continuously maximise the value from your brand promoters. Relying solely on NPS surveys leaves you in the dark about who’s actually promoting your brand, which can lead to wasted time and money on disengaged customers.

However, with tracked referrals, you know exactly who is advocating for your brand — and who will continue to do so over the next 12 months. This enables you to focus your efforts on driving sustainable growth through your most valuable promoters.


Roundup

Don’t just settle for high scores. Transform them into real business growth.

High NPS and CSAT scores are great starting points, but true real value lies in tracked referrals. This strategy bridges the gap between customer love and tangible revenue, turning your promoters into proactive brand advocates who drive sustainable growth.

Mention Me’s AI data models are designed to help your brand identify, nurture, and maximise value from your most enthusiastic customers. The result? More effective targeting, a surge in lead generation, and a bottom line that reflects your brand’s valuable customer base.

Ready to start the journey from high scores to high-value referrals? Contact our experts today or request a free demo.

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The short answer is yes—but it’s difficult to measure precisely. And beyond driving new customer acquisitions, referrals bring long-term value to your business as well.

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