Referral tracking is the process of tracking and attributing customer referrals to a specific source. It is a way to track the effectiveness of referral marketing campaigns and to identify the most valuable referral sources.
A referral tracking system typically involves a unique referral link or code that is assigned to each referral source. When a customer clicks on the referral link or enters the referral code, the referral tracking system records the referral source and attributes any resulting conversions (sales, leads, etc.) to that source.
How does Referral Tracking work?
- First, the referral tracking system generates unique referral links or codes for each referral source or campaign. This can be done automatically through referral tracking software. Each affiliate will have their own unique tracking link for each campaign, landing page, banner, or combination of these.
- The referral links or codes are then distributed, typically through email, social media, or on an affiliate’s website.
- The referral tracking system also records any resulting conversions, such as sales or sign-ups, and attributes them to the referral source or the affiliate who sent the conversion.
- The referral tracking system then stores this data in a database, which can be accessed and analysed to track the effectiveness of their referral marketing campaigns and to identify the most valuable referral sources.
- Some referral tracking systems like the one provided by BlackBull Partners also include built-in analytics and reporting features, which allow businesses to view detailed data on their referral program’s performance, such as the number of clicks, conversions, and revenue generated by each referral source.
Referral tracking is a useful tool for businesses to track and measure the effectiveness of referral marketing campaigns and to identify the most valuable referral sources. It also allows businesses to reward their customers for spreading the word about their products or services.
Get started with referral tracking for yourself by signing up for an account with BlackBull Partners.