Case Study: iKhokha grows referral conversions with Referral Factory

iKhokha boosts referrals to nearly 20% conversion with Referral Factory

iKhokha, a South African B2B fintech, wanted to leverage its happy customers to drive growth more effectively than paid advertising. The challenge was to turn this unstructured word-of-mouth into a measurable and fraud-controlled channel without committing its in-house engineering team to a lengthy development project. To solve this, they used a customer referral program built with the vendor Referral Factory.

By implementing Referral Factory's software, which integrated directly with their HubSpot CRM, iKhokha launched a double-sided referral program with simple cash rewards. The solution included automated tracking and fraud controls, such as verifying a referred business had processed payments before paying out. The results were significant, with thousands of business owners signing up to refer. Referred businesses converted at a rate of nearly 20%, which is almost eight times higher than their paid search conversion rate, demonstrating the powerful impact of the program powered by Referral Factory.

iKhokha