How Sagetap achieved 39% additional monthly revenue growth with referrals

Sagetap is a platform that automatically matches technology buyers with relevant B2B SaaS vendors based on their key initiatives and product renewals, facilitating the discovery of new technologies in a non-sales setting.

Word of mouth has always been a crucial channel for Sagetap's community-driven business. Although they were already utilising a vendor for their referral program, they decided to replace it, with the goal to enhance program effectiveness. The absence of a seamless product integration, along with limited customization and branding options of their existing provider, prompted Sagetap to seek a more flexible and seamlessly integrated solution.

Key reasons that made Sagetap choose Cello as their new referral provider include:

1. Cello's ease of integration allowed for a quick, low-effort and seamless integration into their product and UX.
2. Cello offers features like automated rewards, multiple sharing options, and comprehensive management tools, which were significant factors in their decision.

These elements combined create a seamless and rewarding experience for both users and referees, supporting Sagetap's goal of a frictionless sharing process that fosters user-led growth.

How did they succeed?

Sagetap achieved success through their state-of-the-art implementation of their referral program powered by Cello, that optimizes for user activation, engagement and sharing, without disrupting the user experience. This includes also the chosen reward amount being set to a significant value (Sagetap users can earn up to $15,000 per referral), which is a strong hook for users to participate in the program.

The successful setup was also resulting from close collaboration with the Cello Customer Growth team, and the implementation of Cello-provided recommendations to maximize the effectiveness of the referral program.

After the initial setup and implementation of the referral program, Cello manages the integration of the referral program in Sagetap’s user journey independently, without further required effort from their team.

Custom Launcher

Alongside the pre-configured floating-action-button, Cello recommends the implementation of 'custom launchers' which enable customers to activate the Cello Referral Component from any chosen element within the product, such as a button, menu item, or link. To embed the Cello component into their product as seamless as possible, the Sagetap team opted for an in-menu integration, strategically distinguishing the referral program from other feature-related menu items.

Moments of Delight

Right from the beginning, Sagetap decided to implement Cello’s “Moments of Delight” feature, designed to increase user engagement and participation in the referral program. For example, whenever a tech expert finishes an advisory session, a thank-you page is displayed, together with a banner notification that subtly promotes the referral program.

Activation Campaigns

Sagetap uses Cello’s in-app announcements to activate and continuously engage users with the referral program. The announcements are seamlessly integrated into the Sagetap product experience. Once set up, these notifications are managed entirely by Cello independently. Examples for notifications are: welcome announcements, first-reward announcements, and activation announcements (if users are not engaging with the program). This allows customers to overcome one of the main challenges with referral programs, which is that users are not aware of the referral program.

Notification Emails

In addition to in-app notifications, Sagetap enhances user engagement by letting Cello send timely emails to Sagetap's referring users. This feature can be activated by program owners with only a few clicks, and emails will then be handled by Cello entirely. These communications include a welcome email to the referral program, updates about earned rewards, and reminders for unclaimed rewards.

Custom & Personalized New User Landing Page

Sagetap initially used Cello’s standard configurable banner as the destination for referees clicking the referral link. Cello's data indicates that a dedicated and well-crafted referral program landing page can boost conversion rates by up to 300%. Taking this insight on board, Sagetap launched its own customized referee landing page to enhance signup conversions. Building on this, they also incorporated a layer of personalization, provided by Cello: mentioning the referrer's name on the landing page strengthens the social proof, which in turn tends to improve conversion rates (by up to 50% according to Cello data).

Sagetap's close collaboration with Cello and fully leveraging Cello’s optimization features have propelled their referral program to new heights, boosting the overall user experience and program success.

The result?

Sagetap's implementation of the Cello referral program delivered exceptional results, achieving a remarkable 39% of monthly additional revenue growth, with referrals as their lowest customer acquisition cost (CAC) channel.

They were also able to boost their sign-up rate to an impressive 23% on average, with 39% in its best performing month, as well as a best-in-class sharing rate of 50% on average.

By optimizing their referral program and achieving those results, Sagetap demonstrates the program’s comprehensive effectiveness and its critical role in driving business growth.