A Nielsen survey on trust and advertising revealed that "Referral Marketing" scored the highest across every single demographic, out-doing editorial content, all forms of ads, and brand sponsorship.
83% of consumers trust referrals from people they know and people are 4 times more likely to buy when referred by a friend. - Neilson
65% of new business comes from referrals - New York Times
People are 4 times more likely to buy when referred by a friend - Neilson
92% of respondents trusted referrals from people they knew - Neilson
84% of B2B decision makers start the buying process with a referral. - Heinz Marketing
89% of millennial women trust recommendations from a friend, peer, or family member more than recommendations from a brand (11%). - Changing the Face of Modern Consumerism
Advocates’ recommendations are the most trusted source across all age groups: Millennials, Gen X, baby boomers, and mature adults. - Deloitte
B2B buyers are increasingly turning to social networks to not only share information with each other but to give each other advice. - Blanc & Otus and G2 Crowd Study
Businesses agree that Referrals creates 85% of their new business.
Customers referred to your business spend 200% more than the average customer, and make 2x more referrals about your business!