Referral program in the context of social capital and digital marketing methods

More and more indicators affecting the company's profits are becoming available for calculation due to the development of technology. Social capital can be one of these indicators. The study concludes that the referral program is the use of the external social capital of the enterprise. Digitalization allows companies to develop the interaction with consumers. There is a simplification and improvement of such marketing tools as loyalty programs, which are already moving into the field of digital marketing. Companies can enable customers to attract new customers for a certain reward using user-friendly web interfaces or applications. The objectives of the study are: to clarify the term “social capital”; to describe various concepts of attracting customers for sales growth, including digital marketing methods, in order to more accurately determine the referral program; to propose formulas for calculating the efficiency of the referral program. Keywords—social capital, referral program, customer acquisition cost, referrer, digital marketing