Referral programs, customer value, and the relevance of dyadic characteristics

Guillermo Armelini, Christian Barrot, Jan U. Becker

Research output: Contribution to journalArticlepeer-review

20 Scopus citations


. Referral programs have become a popular tool to use the customer base for new customer acquisition. We replicate the work of Schmitt et al. (2011) who find that referred customers are more loyal and valuable than customers acquired through other channels. While our results confirm that rewarded referrals indeed reduce the risk of customer churn, we do not find that referred customers are necessarily more valuable. Analysis of the relationship between senders and receivers of referrals demonstrates that demographic similarity drives the referred customer value.
Original languageAmerican English
Pages (from-to)449-452
Number of pages4
JournalInternational Journal of Research in Marketing
Issue number4
StatePublished - 1 Dec 2015


  • Customer acquisition
  • Customer lifetime value
  • Financial services
  • Referral rewards


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