Business
In this episode of E-coffee with Experts, we sit down with Kirsty Sharman, Founder at Referral Factory, to break down how modern referral programs actually drive sustainable growth. After manually managing referrals in spreadsheets at 2AM, Kirsty built a plug-and-play system that now powers thousands of referral campaigns across SaaS, solar, finance, healthcare, education, and agencies.
We cover:
- Why most businesses calculate referral rewards incorrectly
- How to structure incentives for recurring revenue businesses
- The math behind referral ROI (CAC vs LTV explained simply)
- Why “money talks” — and when creative rewards outperform cash
- How solar, banking, and SaaS companies dominate with referrals
- Commission vs one-time rewards: what works best for agencies
- How to avoid referral churn by improving customer experience
- Why generous brands win in commoditized markets
If you’re a founder, agency owner, SaaS operator, or marketing leader looking to lower CAC and build a predictable growth channel outside paid ads, this episode is a must-watch.
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In this episode, we discuss:
00:00 - 02:45: How Referral Factory Started
02:45 - 05:10: Why Referrals Beat Paid Ads
05:10 - 08:20: Are You Asking For Referrals Too Much?
08:20 - 11:45: Best Industries For Referral Programs
11:45 - 15:10: Why Bigger Rewards Drive More Referrals
15:10 - 18:30: Creative Incentives Beyond Cash
18:30 - 22:00: Simple Math To Set Referral Rewards
22:00 - 25:40: Commission vs One-Time Referral Payments
25:40 - 29:10: Should You Offer Lifetime Commissions?
29:10 - 32:30: Protecting Your Business With Clear Terms
32:30 - 35:00: Why Great Companies Win With Referrals
35:00 - 38:00: How Agencies Should Structure Referrals
38:00 - 40:20: Hidden 50% Discount Strategy
40:20 - 41:11: Final Advice
Connect with Kirsty Sharman
https://www.linkedin.com/in/kirstysharman/
http://referral-factory.com/
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