What is a B2B referral program?

A B2B referral program is a structured way to motivate happy customers, partners or industry connections to introduce your services to decision makers at other businesses.

Instead of relying only on cold outreach, companies activate their existing relationships. Referrers bring warm leads and are rewarded when new customers are acquired. When designed properly, a B2B referral program becomes a continuous source of high intent leads.

Do referral programs work in B2B?

Yes. In many cases they outperform traditional outreach.

B2B sales cycles are long and trust plays a major role. When a known contact recommends your company, the buying journey becomes shorter and more reliable.

This is why referral programs often have greater impact in B2B compared to B2C. The value of a trusted recommendation is higher because the purchase decisions are riskier and more complex.

How to structure a B2B referral program in 5 steps

A successful B2B referral program is intentional, easy to use and supported by clear rules.

1. Define your goals

Decide what you want the referral program to achieve. Examples include increasing new sales, entering a new market or boosting loyalty among existing clients.

2. Set rewards

Choose what referrers earn when they bring qualified deals. Common rewards include commissions, discounts, credits or bonuses.

3. Identify your referral audience

Who can refer ideal customers to you? This might include existing clients, partners, subcontractors, advisors or employees.

4. Make the process simple

Clients should be able to refer in seconds. Use automation to track submissions, route leads and calculate payouts. Referral tools such as Leadfellow help avoid manual tracking and miscommunication.

5. Recognise and reward referrers

Follow up quickly, say thank you, deliver rewards on time and acknowledge successful referrals. This builds long term advocacy.

How do I get referrals in B2B sales?

Start from those who already trust you. Existing clients, suppliers, friends, investors and LinkedIn connections can often refer high quality opportunities.

Best practices include:

• Build strong relationships through value and reliability

• Ask at the right time such as after positive delivery or feedback

• Be specific about the customers you look for

• Offer meaningful incentives

• Make referring easy through simple links or templates

• Follow up and keep referrers updated

• Track results and optimise over time

How PRM enhances B2B referral programs

Many referral programs evolve into full partner referral ecosystems. A Partner Relationship Management system provides centralised tracking, automated reward handling, partner onboarding and live reporting.

Tools such as Leadfellow help companies scale referrals, formalise agreements and create transparent commission workflows.

Types of B2B referral programs

Common questions about B2B referral programs

What is a B2B referral program?
A system where existing customers, partners or employees are rewarded for sending qualified business referrals.

Why build one?
Because referred leads convert faster, cost less to acquire and come with built in trust.

How do I design one?
Define rewards, eligibility rules, tracking methods and communication flows.

How do I promote it?
Use email, social media, landing pages, onboarding flows and partner portals to explain benefits and share referral links.

How do I measure success?
Track referral volume, conversion rate, revenue influence, payout cost and overall ROI.

What is the best B2B referral program?

There is no universal winner. It depends on goals and workflow. However, popular tools include:

• Leadfellow for B2B referral automation and commission management
• ReferralCandy for simple cloud referral programs
• GrowSurf for automated reward distribution
• Leadformly for referral funnels and lead magnets

Most provide demos or free trials, so testing is recommended.

Your B2B referrals with Leadfellow

B2B companies need predictable pipelines, not occasional referral luck. Leadfellow makes referral operations simple from submission to payout.

Effortless onboarding

Create a public referral page in minutes and share it with your network on LinkedIn, in email signatures or on websites.

Direct leads to your inbox

Anyone can send qualified leads to you through your profile page. They can either submit the lead directly or connect with you first.

Earn more with less effort

• Save time by automating referral handling
• Increase revenue by capturing more qualified deals
• Grow your ecosystem by rewarding trust

Turn your partners into a revenue engine

Ready to launch a high performing B2B referral program?

Book a demo or start a free trial today.