8 Referral Marketing Platform Success Stories [2024]

Updated: November 19th, 2023
Start A Referral Marketing Platform

Here are some real life success stories of starting a referral marketing platform:

1. ReferralHero ($216K/year)

He was working for a startup in the event analytics space. A customer suggested a feature for attracting more attendees to events. The idea was to allow people to jump higher in the queue by inviting (or referring) more people to the event.

Several months later, remembered the idea and decided to build an MVP referral program as a widget instead of a web application.

How much they make: $216K/year
Current team size: 0

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How I Created A $18K/Month Referral Marketing Software

ReferralHero is a profitable, referral marketing platform with over 6,000 customers and MRR of around $18,000/month, built by founder Manuel Frigerio as an MVP in just four days, with growth coming from content marketing and SEO.

About
Manuel started ReferralHero about 6 years ago
Revenue
Manuel grew the business to $18K/month
Read by 9,654 founders

2. GrowSurf ($1.2M/year)

Kevin Yun, co-founder of referral software company GrowSurf, came up with the idea for the business after realizing that there was a lack of suitable referral software available on the market. After years of waiting for someone else to build the ideal solution, Kevin and his co-founder decided to create it themselves, with the vision of making it as streamlined as possible to integrate a referral program into any product. Since launch, GrowSurf has achieved an impressive $25k MRR and is focused on increasing customer retention and reaching $1 million in annual recurring revenue.

How much they make: $1.2M/year
How much did it cost to start: $0
Current team size: 2

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How We Developed A $25K/Month Referral Software For Tech Startups

Co-founders of B2B SaaS startup GrowSurf, Derek and Kevin, developed a referral software for tech startups that has brought in around $25k MRR with a 6% monthly growth rate, overcoming generic messaging and a compromised product that wasn't a good fit for anyone.

About
Kevin started GrowSurf over 6 years ago
Revenue
Kevin grew the business to $100K/month
Read by 6,928 founders

So... can you actually make money with a referral marketing platform?

Of course. There are millions to be made in this industry.

But how?

  1. Research real, profitable businesses and see exactly how much money they make.
  2. Study exactly what works, and what doesn’t.
  3. Take action, because now you have the roadmap.

Join Starter Story and build your next big thing:

Start Now

3. Everflow ($15M/year)

Kanwar Dhaliwal, co-founder of Everflow, came up with the idea for the business after selling his previous company, Moolah Media, which was an ad network. Recognizing a gap in the market and armed with firsthand knowledge of the industry, Kanwar and his co-founders decided to disrupt the existing vendors and build a technology platform company. With a commitment to customer success and a hyper-focus on the market, Everflow has grown profitably, serving nearly 700 customers.

How much they make: $15M/year
How much did it cost to start: $400K
Current team size: 82

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How We Developed A SaaS Partner Marketing Platform

Everflow, a bootstrapped company founded by three entrepreneurs, now serving nearly 700 customers profitably, offers a tracking, measurement, and analytics tool for digital advertising, attracting and retaining customers primarily through market-driven decisions and commitment to customer success.

About
Kanwar started Everflow almost 8 years ago
Revenue
Kanwar grew the business to $1.25M/month
Costs
It cost Kanwar $400000 to start the business
Read by 5,880 founders

4. bestcourses ($1.2K/year)

Janosch came up with the idea for bestcourses while searching for online courses to enhance his web development skills. He wanted to create a platform that made it easier to find and compare courses from different platforms. The idea was inspired by similar platforms in other niches, and by leveraging his experience in creating and selling online courses, Janosch saw an opportunity to make online education more accessible and transparent.

How much they make: $1.2K/year
How much did it cost to start: $0
Current team size: 0

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How We Grew Our Online Course Search Platform To 600K Monthly Impressions

Bestcourses.io is an online course comparison platform that aggregates courses from major online learning platforms and enables users to easily find deals, with an impressive 500k+ monthly impressions and making $100/month from affiliate commissions.

About
Janosch started bestcourses over 2 years ago
Revenue
Janosch grew the business to $100/month
Read by 2,139 founders

So... can you actually make money with a referral marketing platform?

Of course. There are millions to be made in this industry.

But how?

  1. Research real, profitable businesses and see exactly how much money they make.
  2. Study exactly what works, and what doesn’t.
  3. Take action, because now you have the roadmap.

Join Starter Story and build your next big thing:

Start Now

5. ReferBox ($12K/year)

How much they make: $12K/year
Current team size: 1

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Nigeria Based Referbox hits 52 on Waitlist. Student Founder Launching Paywall One Month Targeting $1k MRR

ReferBox utilized referral marketing, incentives such as discounts and rewards for customers, social media platforms, email marketing campaigns, free trial, SEO and PPC to increase search engine visibility and website traffic.

About
Damilare started ReferBox almost 2 years ago
Revenue
Damilare grew the business to $1K/month
Read by 321 founders