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NETSUITE STARTS REFERRAL PROGRAM Featured

Oracle NetSuite has started a customer referral program, along with a program for associations and buying groups. NetSuite had “some things” for rewarding referrals but the new effort unites those under SuiteReferrals.

”It’s operationalizing and bringing together some things that had been there over the years," according to Ranga Bodla, head of industry marketing. Once someone has referred a lead to NetSuite where it is registered and then the company has a year to close it. If the deal closes, the referrer earns 10 percent of the first year’s revenue. “The big benefit of the program is these are warm leads,” says Bodla. “These are people who have expressed interest in market.” Anyone can refer business and Bodla said there have been prospects who decided not to buy NetSuite before made a referral which closed. “It could be anybody that has a valid referral Bodla said. The Association & Groups program signs up these organizations for a non-exclusive relationship with NetSuite, enabling them to provide negotiated discounted pricing on NetSuite products to their members. Seven participants have signed up since the initial launch with distributors and suppliers heavily represented.

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