It's important that you measure your marketing programs. First identify your KPI (Key Performance Indicators). Then you can develop a plan for getting as close to objective as possible in measuring your programs.
How you measure will differ based on the industry and the product. There are a lot of marketers that suggest that you should not measure marketing with sales, but I don't care what industry you are in, marketing and sales are at least indirectly related and should be measured similarly. Marketing is generating leads, prospects, and clients. Sales, is a part of marketing, or you might categorize marketing under sales depending on logistics, but they are related, and should work together. At minimum, there should be a way to measure the ease of sales with a good marketing program.
Traditional marketing methods are getting more diluted by sheer numbers and competition from other ads. They're getting ignored more by unwilling and uninterested customers. People are used to businesses telling others about how good they are. Why not build some marketing programs to make it easier and more EXCITING for someone ELSE to spread the word. When you begin "paying" your refers they become what Seth Godin calls a "sneezer". You want to stay away from this as much as possible. I'm not saying you shouldn't give incentives. But, are they more interested in the value of your company or the value of the monetary incentive? Focus on the first, and diminish the second as much as possible. There are LOTS of ways to do this and should be explored more as the ROI for marketing grows smaller.
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