The four main metrics Referral Factory uses to measure your campaign are reach, users, referrals. and converted referrals. These metrics give you an indication of how your referral program is performing.
But what do they mean?
This is how many times people have viewed your referral programs, a single campaign or a particular referral link. This will include all users - a person referring or a person that has been invited. Similar to page views on a website.
This is the total number of people inside your account or your campaign. This includes anyone who has joined your campaigns, either as a person referring or as a person who has been invited.
This is the number of people that joined your campaign via a referral link from their friend i.e. they filled out the form in Step three of your referral campaign. Another way to think about them is the number of leads generated.
This is the number of referrals you received that were successfully converted. A conversion could be a sale, a contract signed, an account opened etc.
An example of a great campaign is one where the referral number and the user number are not too far off from each other. This means that people are joining your program to refer friends and their friends are interested in your product or service.
An example of a bad campaign is one where the reach number is very high but there are not a lot of users in your campaign. This could indicate that your program is not appealing to your existing customers and therefore they are not incentivized to refer friends.