Who is a Referrer?
A referrer is existing customers of your business. A referrer is the most prized possession that you have nurtured by serving them with the best.
Whenever you create a referral program, the referrer is the one who will be the first one to enrol in your referral program and share the link with their friends. A referrer is the one who contributes the most in getting you a strong customer base by bringing in more customers.
Who is a Referee?
If your customers are satisfied enough with your services they will recommend your business to their confidants. Thus, the people being referred by your existing customers aka referrers are called Referees.
The referee is the one who is being referred by your existing customers. When referrer shares the link with their friends over social media platforms they (the friends) will click on the link to join/subscribe to your services.
Note: Referrer and referee both will take interest in your referral program only if they see their benefit in it.
What are Conversions in Referral Marketing?
Conversion of visitors into paying customers is the primary goal of an organization irrespective of the industry they are in. Conversions in referral marketing are when your customers share your referral link with their friends and then their friends’ clicks on the link to sign up to your web page. This is your conversion to the referral program.
There can be multiple-goal conversions that one can achieve according to their brand demands. Conversions such as sharing links to target groups, promoting mobile app installations, Registrations over a platform and sales from referrals.