Referral programs are a great way to acquire new customers, increase brand awareness and retain existing customers as you offer them rewards for referring other customers. One-sided referral programs are less complex when it comes to implementation and can be cheaper than two-sided referral program.
Word-of-the-mouth is one of the best advertising means. Nielsen's report proves that the recommendation is the most trusted for customers sitting on the fence. According to the statistics, as many as 92% of customers trust their friends’ advice, 77% of customers are willing to buy a product or use services recommended by someone they know.