growthunhinged.com · 2023-06-21 · 1079d

Your guide to B2B referrals

This article provides a seven-step framework for B2B SaaS companies to build effective user referral programs as a low-CAC growth channel. The guide covers program design, reward structuring, UX integration, go-to-market strategy, and includes benchmarks showing referred users convert at 2.4-6.3% annually and generate higher LTV and retention compared to other channels.

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Metrics in this report

Annualized User-to-Customer Conversion (Referrals)

20.4percent

top-quartile

Freemium SaaS with user referral programs

Annualized User-to-Customer Conversion (Referrals)

11.9percent

median

Freemium SaaS with user referral programs

Annualized User-to-Customer Conversion (Referrals)

6.3percent

top-quartile

Sales-led SaaS with user referral programs

Annualized User-to-Customer Conversion (Referrals)

2.4percent

median

Sales-led SaaS with user referral programs

Free-to-Paid Conversion (Organic)

2.8percent

average

Freemium SaaS

Free-to-Paid Conversion (Organic)

18.2percent

average

Free-trial SaaS

Free-to-Paid Conversion (Paid)

2.6percent

average

Freemium SaaS

Free-to-Paid Conversion (Paid)

17.4percent

average

Free-trial SaaS

Free-to-Paid Conversion (Referrals)

67.8percent

top-quartile

Free-trial SaaS with user referral programs

Free-to-Paid Conversion (Referrals)

42.5percent

median

Free-trial SaaS with user referral programs

Free-to-Paid Conversion (Referrals)

17.4percent

top-quartile

Freemium SaaS with user referral programs

Free-to-Paid Conversion (Referrals)

13.9percent

median

Freemium SaaS with user referral programs