Accredible has launched a new tool, the Accredible Digital Credential Referral Calculator. The calculator helps to communicate the value of digital badges and digital certificates and supports the customer value optimization process.
What is the digital credential referral calculator?
The calculator is a tool to understand the positive impact of adding digital credentials and generate potential sales and marketing returns. Customers can use the tool to communicate the value created by digital credentials to decision-makers and internal stakeholders. The calculator helps the customer value optimization process by providing insight into the ROI of marketing strategies.
How does the digital credential referral calculator work?
Issuers input their:
- Number of unique users
- Credential type
- Industry
- Average course cost
- Close-rate percentage
To generate best case and average scenarios for referral and engagement rates using Accredible’s existing data. The calculator returns potential revenue generated for referrals and sign ups.
How to interpret results
After inputting your program metrics, the calculator will generate values for engagement rate, share rate, shares generated, and referral clicks generated.
- Engagement rate is the percentage of recipients that view the credential.
- Share rate is the percentage of recipients that share their credential to a social platform.
- Shares generated is the approximate number of shares based on the number of users and the share rate.
- Referral clicks generated is the number of third-party credential views that lead to sign-ups.
Based on these values, the calculator then returns the dollar value for referrals and revenue based on the course cost.
- Referral value is the estimated spend for referrals if these had been generated through placing paid advertisements, i.e. social ads or display ads (search engine ads).
- Revenue generated is how much the organization will earn through additional sign-ups based on the course cost and number of referral clicks generated.
Accessing the digital credential referral calculator
The Accredible sales team is happy to provide a demonstration of the digital credential referral calculator. Get in touch to book a demo or follow the link to access the digital credential referral calculator online.
