Customers who are referred to a business tend to spend more than customers who come in from marketing. As one marketing professional put it to me, “Referred customers come in hot. They trust their peers and they spend more out of the gate than do other new customers.”

Good service gets referrals and those referrals are valuable. Here’s how you can put a pencil to customer referral value.

Learn more about “Calculating the Value and ROI of Customer Service” in my LinkedIn Learning course.

Referred customer value from Calculating the Value and ROI of Customer Service by Brad Cleveland