What metrics would you use to evaluate EkWateur's customer referral program?

Introduction

Evaluating EkWateur's customer referral program requires a comprehensive approach to product success metrics. To address this challenge effectively, I'll follow a structured framework that covers core metrics, supporting indicators, and risk factors while considering all key stakeholders. This approach will help us gain a holistic understanding of the referral program's performance and its impact on EkWateur's business.

Step 1

Product Context

EkWateur is a French energy provider that offers green electricity and biogas to residential and business customers. Their customer referral program is likely designed to incentivize existing customers to recommend EkWateur's services to friends and family, thereby acquiring new customers at a lower cost than traditional marketing channels.

Key stakeholders include:

1. Existing customers (referrers)
2. Potential new customers (referees)
3. EkWateur's marketing team
4. EkWateur's customer service team
5. Company leadership

The user flow for the referral program might look like this:

1. Existing customer receives a unique referral code or link
2. Customer shares the code/link with friends or family
3. New customer signs up using the referral code/link
4. Both the referrer and referee receive a reward (e.g., account credit or discount)

This program fits into EkWateur's broader strategy of sustainable growth and customer acquisition through word-of-mouth marketing. It leverages the trust between friends and family to expand the customer base while rewarding loyal customers.

Compared to competitors, EkWateur's referral program likely aims to differentiate itself through its focus on green energy and potentially more attractive rewards or easier sharing mechanisms.

In terms of product lifecycle, the referral program is likely in the growth stage, as EkWateur seeks to expand its customer base and increase market share in the competitive French energy market.