Step 2: Set a goal & track your progress
Going solar is kind of like the joke 'How do you know if someone is a vegan? They'll tell you!' There's a window right after someone goes solar where they want to grab a megaphone to tell the world about it.
- Charlie Saginaw, Regional Account Manager at BayWa r.e.
To declare that your referral program “works,” it must be measurable. A simple and valuable metric to determine how well you're doing on referrals is the ratio of “referrals per customer.” Take your total number of referrals over a given time period, and divide it by your total number of new customers over that same time. You should expect a lag between when customers close and when they begin making referrals. To take that into account, offset the time period of referrals and new customers by the number of months it takes to go from contract to PTO.