Referral marketing entails converting customers into brand advocates, leveraging their social circles to promote a product or service. Dropbox serves as a prime example of effective referral marketing implementation.

Dropbox pioneered a referral program where users were offered complimentary cloud storage in exchange for inviting their contacts to join the platform. This ingenious strategy swiftly became the primary driver of new customer acquisition for Dropbox.

Another notable example is Airbnb, which incentivizes both referrers and referees with travel credits. Referrers receive credits when their friends complete a qualifying stay, while referees receive credits for their first booking. This mutual benefit system has significantly contributed to Airbnb's rapid expansion and market dominance.

The prevalence and effectiveness of referral strategies continue to grow, with innovative companies like Airbnb demonstrating their potential to drive organic growth and enhance brand visibility.