If you’re running a customer reference program using Deeto and you’re getting the “so what?” from your boss, you’re in the right place. This guide is for marketers, ops folks, or anyone who’s tasked with justifying the time and money spent on getting customers to vouch for you. We’ll skip the fluff and get into the practical ways to measure, analyze, and—most importantly—improve the ROI of your Deeto reference program.
Step 1: Get Clear on What “ROI” Really Means for References
Before you start crunching numbers, you need to know what you’re trying to prove. “ROI” gets thrown around a lot, but for a Deeto reference program, it really boils down to:
- Are we getting more (good) deals because of it?
- Are we saving time or money in the sales process?
- Is it making customers stickier or happier?
If you’re just counting how many reference calls got set up, you’re missing the point. Your goal is to tie your program to real business impact—either revenue, efficiency, or retention.
What to ignore:
Vanity metrics like “number of reference requests completed” or “number of reference customers enrolled.” They sound nice in a slide deck but won’t matter to anyone outside your team.
Step 2: Set Up the Right Tracking Before You Start
You can’t measure what you can’t see. If you haven’t set up tracking, you’ll be stuck with hand-wavy estimates later.
What to track:
- Reference request source: Where did the reference request come from? (Sales, marketing, customer success, etc.)
- Deal stage at request: Was this an early-stage lead or a deal about to close?
- Reference touch outcome: Did the reference actually happen? Did the deal progress or stall?
- Deal outcome: Did the deal close? For how much?
- Sales cycle length: Did the reference make things move faster?
- Reference customer engagement: Are your reference customers burning out or staying happy?
How to track:
- CRM integration: Make sure Deeto is syncing with your CRM (Salesforce, HubSpot, etc.) so you can tie reference activity to deal outcomes.
- Custom fields: Add fields for “Reference Provided (Y/N),” “Reference Customer Used,” and “Reference Impact” in your CRM.
- Keep it simple: Don’t try to track 20 things. Focus on the handful of metrics above and set up reporting you’ll actually use.
Pro tip:
If your sales team isn’t recording reference requests in the CRM, your data will be garbage. Do a quick audit to check.
Step 3: Calculate the ROI—For Real
Now for the part that actually gets attention: showing the return on investment. Here’s how to break it down in plain English.
1. Attribution: Did References Actually Influence Deals?
Ask yourself: if a reference call happened, did it push the deal forward or help close it? This is easier said than done, but here are a few ways to get close:
- Direct attribution: Tag deals where a reference was provided, then compare win rates to similar deals without a reference.
- Sales feedback: Get honest input from reps—did the reference actually move the needle, or was it just a box-checking exercise?
- Customer surveys: After a deal closes, ask the new customer if the reference made a difference.
What doesn’t work:
Assuming every deal with a reference would’ve closed anyway. Don’t pad your numbers.
2. Revenue Impact
Calculate the incremental revenue from deals that closed because of references.
- Formula:
(Average deal size) x (Number of deals influenced by references) = Attributed revenue
For example:
If 10 deals closed after a reference call and your average deal size is $30,000, that’s $300,000 in influenced revenue.
3. Sales Cycle Acceleration
References can speed up deals. Measure the average sales cycle for deals with and without references.
- Formula:
(Avg. sales cycle with reference) - (Avg. sales cycle without reference) = Time saved per deal
Multiply that by your average cost per day in sales (salary, overhead, etc.) for real savings.
4. Cost Savings or Avoidance
If Deeto automates or streamlines reference management, factor in:
- Time saved by marketing or sales ops
- Fewer reference customer “burnouts” (not having to recruit new ones constantly)
- Reduced incentives or manual tracking
Estimate hours saved per month and multiply by the loaded hourly cost of the people doing the work.
5. Program Costs
Don’t forget to subtract what you’re spending:
- Deeto subscription costs
- Incentives for reference customers
- Any other tech or resource spend
6. ROI Formula
Put it all together:
ROI = (Total Attributed Revenue + Cost Savings – Program Costs) / Program Costs
If you get a number above 1 (or 100%), you’re in the black. If not, you’ve got work to do.
Step 4: Analyze the Data—And Don’t Fool Yourself
Now that you’ve got numbers, it’s tempting to cherry-pick the best ones. Resist that urge.
- Look for patterns, not just wins. Are certain types of deals more likely to benefit from references? Is one sales team actually using the program, while another ignores it?
- Watch out for “halo effect.” Sometimes deals that use references are already more likely to close, because the rep is more diligent. Don’t mistake correlation for causation.
- Check for reference fatigue. If the same customers are being asked over and over, you’ll see engagement and quality drop. Rotate your reference pool.
Pro tip:
Ask your sales team for stories where a reference saved a deal—or didn’t help at all. Real feedback beats any spreadsheet.
Step 5: Report Honestly—And Make It Useful
When you share your findings, skip the marketing spin. Executives don’t care about “engagement rates”—they want to know if the program is making (or saving) money and if there’s room to grow.
- Show the numbers: Revenue influenced, sales cycle reduction, cost savings, program costs. Simple.
- Highlight weak spots: Are there teams not using the program? Are reference customers burning out?
- Recommend actions: Should you recruit more reference customers? Change how you track requests? Invest more, or scale back?
- Use visuals: Simple charts—before and after sales cycle, win rates with/without references—are more convincing than big tables of data.
Step 6: Iterate and Improve (Don’t “Set and Forget”)
The first time you measure ROI, you’ll probably find holes in your data. That’s normal.
- Refine your tracking: Make it easier for reps to log reference activity, or automate it.
- Experiment: Try different ways of matching references, or test new incentives.
- Talk to your customers: Sometimes the best references are the least obvious ones.
- Keep it lean: Don’t let your program become a bloated process-machine. Focus on what’s actually working.
What Actually Works (and What Doesn’t)
Works: - Tying reference activity directly to deal outcomes - Regularly rotating and rewarding your best reference customers - Getting honest sales feedback (not just relying on CRM fields) - Keeping the process simple and visible
Doesn’t work: - Measuring “number of reference calls” as your main KPI - Overcomplicating with too many metrics or dashboards - Ignoring the effort and fatigue on your reference customers - Assuming ROI will magically appear if you just buy the right tool
Keep It Simple and Iterate
Measuring the ROI of your Deeto reference program isn’t rocket science, but it does take some discipline and honesty. Focus on real business impact, not vanity metrics. Start with basic tracking, make your reporting useful, and tweak as you go. The best programs are the ones that get better over time—not the ones with the fanciest dashboards.