Referral Factory vs. Prospect (tryprospect.com)

It is well suited for businesses that need the ability to create good-looking professional referral campaigns within a short time frame and do not have coding experience. I would say it is ideal for perhaps eCommerce site owners and store owners who want to launch referral programs but do not have the resources available within their company to assign a developer or someone with coding knowledge to set up and integrate.

Its well suited If you find yourself manually placing contact details in CRMs or you're using multiple tools to find relevant and accurate contact details. Not so relevant if you already sheet of contact details and you can simply import it as a CSV in certain tools

Incentivized

• The platform is user-friendly with various types of guidance such as chatbot, videos, and articles, to assist the users.
• Referral Factory provides diverse methods of advertising referral programs, offering templates for a wide variety of industries that users can tailor to fit their brand guidelines.
• Referral Factory provides a detailed dashboard with key performance indicators to help marketers adjust referral campaigns to maximize conversion rates.

Incentivized

• Creating/updating contacts in Salesforce
• Finding accurate email addresses
• UI is great. Easy to use

• The UI needs some improvement to really smooth out the workflows. Overall it's not bad, but could always be better.
• There isn't good documentation on how to configure and use the solution. It's like they assumed they built to be obvious enough to where anyone can figure it out, but for things that have more nuances, users could really benefit from some tooltips and/or documentation.
• Pricing is pretty high, it would be nice to have a lower tier so businesses with a small income stream can start to benefit from referral programs.

Incentivized

• Minimizing minor bugs
• Being able to export contacts for varying accounts to corresponding tabs in Google Drive
• Being able to prospect more than 25 at a time

Referral Factory's overall usability is great. The interface was really easy to learn and use and there are also helpful video tutorials if you have any questions along the way while building your new campaign. The process of sharing the referral link is also really easy and Referral Factory provides multiple methods of sharing the link which is a nice feature as well.

Incentivized

Super easy to use, the only thing I wish they would change is that you always need to check the prospects linkedin page to see if there's been an update to their contact (eg. if contact didnt have a mobile number saved, they may now, so you need to check linkedin every single time before reaching out). Other than that, this is by far the best tool for pulling numbers and emails.

We have been very grateful for the ongoing support from the Referral Factory team who have gone above and beyond not only to help us get set up but have provided great insight into how to optimise our campaign

Referral factory has following features that I find more helpful in achieving my business needs: 1. Customization 2. Data Analytics 3. Ease of setting up and integrations 4. Affordability. As per my experience one feature that really comes in handy in Referral Factory is its integration with my CRM, which allows me to import the customer data i.e. emails, hassle free.

Incentivized

zoominfo has old contact info, a lot of the time i look at specific people and their companies aren't updated. I get intent emailed to me from zoominfo for job changes and it will be 6-12 months after someone changed jobs so the information is just not accurate enough. apollo only pulls headquarters info, never had an accurate cell number from it so i stopped using it pretty quickly during our eval

• Referral Factory led to a 30% boost in customer acquisition, translating to a measurable ROI. The incentivized referral programs effectively expanded our customer base, contributing significantly to revenue growth.
• By fostering customer loyalty through referral incentives, Referral Factory contributed to a 25% increase in CLV. The long-term value generated from retained, engaged customers showcased a positive and sustainable impact on ROI.
• Compared to traditional marketing channels, Referral Factory demonstrated a 20% reduction in customer acquisition costs. The cost-effectiveness of leveraging existing customer networks for referrals positively impacted overall business profitability and marketing ROI.

Incentivized

• I prefer using it from the SalesNav page compared to Zoominfo - seems way more up to date
• Allows me to massively scale my prospecting by keeping me in page and I don't have to look up and cross reference on other tools
• While it has a smaller set of functionality that I can use it for relative to Zoominfo, the things that it does do I've always felt it did a better job
• Really simple UI and doesn't prompt me to sign in every day which I appreciate.