33 Amazing Referral Marketing Statistics for 2023

General Statistics

• 92% of consumers trust recommendations from friends and family more than all other forms of marketing. (Nielsen)
• Word-of-mouth marketing is responsible for 13% of all sales. (MarTech Alliance)
• Referral customers have a 37% higher lifetime value than non-referral customers. (Bain & Company)
• Referral customers are 50% more likely to make a purchase than non-referral customers. (McKinsey & Company)
• 74% of consumers say word-of-mouth is a key influencer in their purchasing decision. (Ogilvy Cannes)

Industry-Specific Statistics

Ecommerce:

• 23% of Singaporean shoppers bought something in a physical store in 2019 based on a friend's recommendation. (BrightLocal)
• 73% of online shoppers trust the recommendations of other consumers. (Finances Online)
• 44% of Gen-Z have made a purchase based on a recommendation from a social media influencer. (Marketing Dive)

Restaurants:

• 37% of Americans decided on which restaurant to eat at based on word-of-mouth recommendations. (MarTech Alliance)
• 72% of diners say they're more likely to try a new restaurant if they've heard good things about it from friends or family. (OpenTable)
• 53% of diners say they're more likely to order a dish if they've seen it recommended on social media. (Yelp)
  
  

Electronics:

• 31% of electronics purchases are heavily influenced by word-of-mouth recommendations. (Gartner)
• 68% of consumers say they're more likely to buy an electronics product if it has been recommended to them by a friend or family member. (Consumer Reports)
• 45% of consumers say they're more likely to buy an electronics product if they've seen it recommended on a tech blog or website. (Pew Research Center)

Software:

• 20% of North Americans who became aware of a software product through word-of-mouth made the purchase instantaneously. (Enterprise Apps Today)
• 79% of software buyers say they're more likely to consider a product that has been recommended to them by a friend or colleague. (G2 Crowd)
• 66% of software buyers say they're more likely to buy a product if they've seen it recommended on a review site. (Gartner)

Other Statistics

• 82% of employers say employee referrals offer the greatest return on investment. (Exploding Topics)
• Referred customers have a 16% higher lifetime value than customers acquired through other channels. (American Express)
• 86% of businesses with referral programs say that referrals take less time to close than other leads. (Small Business Trends)
• 69% of B2B frontline sales personnel, 70% of sales leaders, and 67% of marketers believe that referred leads close faster than other leads. (Think Impact)
• 77% of consumers are more likely to buy a new product when learning about it from friends or family. (Nielsen)
• 91% of B2B purchasers said that their buying decisions were influenced by word of mouth. (Forbes)
• 84% of B2B decision makers start the buying process with a referral. (Harvard Business Review)
• 71% of B2Bs report higher conversion rates from referrals than other customers. (Exploding Topics)
• 89% trust recommendations from people they know the most. (Nielsen)
• 40% of company hires are more likely to be retained after one year if they are from employee referrals. (Jobvite)
• 42% of B2B marketers say referral marketing is their most effective marketing channel. (Content Marketing Institute)
• 69% of businesses with referral programs say referrals are their most valuable source of leads. (Signpost)
• 83% of marketers say referral marketing is very effective at generating high-quality leads. (Content Marketing Institute)
• 75% of marketers say referral marketing is essential to their business growth. (Content Marketing Institute)
• 81% of U.S. online shoppers say they've made a purchase based on a recommendation from a friend or family member on social media. (Sprout Social)
• 73% of consumers are more likely to trust a brand that's recommended by friends and family (Marketing Charts)