Referral Performance offers valuable insights into how your referral program is tracking and contributing to business goals. Unlock the power of data to measure, optimize and improve your Referral strategy periodically.
Performance metrics are categorized into the following sections:
KPIs
Conversion Activity
Channel Engagement
All metrics displayed are for a selected time period. The selected time period can be altered by choosing a date range
1. KPIs
Key performance indicators provide a high-level insight into the success of a Referral program.
Metric | Description |
Customers Acquired | The number of net new customers acquired through the Referral program. |
Revenue Generated | Total incremental revenue gained by the store through Referrals. This includes revenue from orders placed by both Recipients and Referrers. Revenue is calculated as the sum of all line item prices, discounts, shipping, taxes, and tips in the shop currency |
Other key metrics include:
Metric | Description |
Coupon Redemption Rate | Coupons redeemed by Referrers and Recipients of all the coupons issued within the selected time period. |
Total Attributed Purchases | Total incremental orders gained by the store through Referrals. This includes *eligible orders made by both Recipients and Referrers |
AOV | The average order value of all the Referral orders. |
2. Conversion Activity
Metric | Description |
Overall Referral Conversion Rate | The number of recipients that made purchases using a referral coupon in a selected time period divided by total referral links clicked (both via email and URL shares) in a selected time period, shown as a percentage |
Conversion Rate (Email) | The number of recipients referred through email that made a purchase divided by emails sent in the selected time period, shown as a percentage. This view also shows a funnel of conversion at each step |
Conversation Rate (URL Shares) | The number of recipients referred through a shareable link that made a purchase divided by the number of clicks of the shareable link in the selected time period, shown as a percentage. This view also shows a funnel of conversion per step. |
3. Channel Engagement
Metric | Description |
Where All Referrals Originated | Distribution of where Referrals originated from by channel |
Where Successful Referrals Originated | Distribution of where successful Referrals originated from by channel |
*Eligible orders are orders that include referral discounts