Enty's Business Glossary:
Referral Program
Referral program is when a company rewards its customers for friend invitations and word-of-mouth referrals. The referral program can be established and formalized to motivate customers to share information about the company’s products and services with friends or colleagues. The referral program now can be automated highly which means that the service providers can take care of special website creation, invitation records, and reward processing.