“Moving from an ad-hoc referral offer to a fully-fledged program has completely changed how we generate business. We’ve seen an 800% increase in the number of qualified leads coming from past happy clients, and the best part is we’re only paying when those leads convert.”
When FutureNRG, a renewable energy provider led by Simon Fiske, partnered with Deakin’s Business Development Clinic, they were looking for growth but weren’t sure where to start.
With no clear strategy or tactic in mind, they handed the reins to a team of Deakin business students who conducted a comprehensive analysis and full health check using the 7 Levers of Business Framework.
The results? A revamped program that transformed the company’s lead generation and delivered an 800% increase in referrals.
The Blank Canvas:
Like all BDC clients, FutureNRG didn’t come in with a specific pre-scoped challenge. Instead, like many small businesses, they were open to new ideas and strategies that could help them grow – no matter what shape or size it came in.
The Deakin students, armed with the 7 Levers Framework, dug into every corner of the business, searching for untapped opportunities – and delivered a strategy-informed recommendation.
After reviewing the company’s operations, it became clear that renewing their referral program had enormous potential—particularly in boosting their Suspects Lever (lead generation).
The Deakin Business Development Clinic’s Role:
The students quickly realised that FutureNRG’s existing referral program was underused and untapped. It wasn’t fully formalised and was presented more as a one-off offer discussed only occasionally with clients.
Their recommendation? Rebuild the referral program from the ground up, and shift from an occasional incentive into a structured, ongoing program.
FutureNRG’s original referral program offered a split incentive: both the referrer (existing customer) and the referee (new customer) received $100 each once the referred customer completed their installation. While this approach seemed fair on paper, it failed to create a compelling reason for past clients to actively refer new business. As Simon noted, “The $100 split didn’t feel like a strong enough motivator to push clients to promote us, and the sales team wasn’t keen on mentioning it consistently during the sales process.”
As the student consultants highlighted to their client, research shows that higher incentives focused solely on the referrer can lead to more significant referral activity. Studies suggest that people are more likely to participate in referral programs when the reward is substantial enough to feel worth the effort, especially when it’s framed as an exclusive benefit for the referrer. FutureNRG’s sales team also found that the smaller, split reward lacked the weight needed to make it an integral part of their client conversations.
The Deakin students recommended an overhaul, reimagining the referral program as a robust, formal system that incentivised past clients (the referrers) with a single, larger reward of $250 (or more). By removing the incentive for the referred party, the focus shifted entirely to motivating existing clients to drive more referrals. This change made it easier for the sales team to promote the referral program, as they could clearly communicate the tangible benefits to the referrer.
“The students didn’t just present ideas—they gave us a system that could seamlessly integrate into our sales process,” Simon explains.
The new structure also simplified the referral offer, making it a stronger and more compelling part of the sales conversation.
Unlocking the Referral Potential:
Thanks to the revamped program, FutureNRG saw a staggering 800% increase in referrals. Not only did this bring in more qualified leads, but the new system also reduced marketing waste (an additional impact to the businesses Margins Lever).
“Moving from an ad-hoc referral offer to a fully-fledged program has completely changed how we generate business. We’ve seen an 800% increase in the number of qualified leads coming from past happy clients, and the best part is we’re only paying when those leads convert.” Simon explains.
Making the Referral Program Part of the Process:
Beyond the numbers, the real success lay in how the program became a central part of FutureNRG’s sales system. The sales team now incorporates the referral program into every conversation and client handover, ensuring it’s not just a one-off offer but a lasting tool for growth. This shift came directly from how the Deakin students framed the strategy and helped Simon and his team understand the broader impact on their business.
“The students helped us see the bigger picture. They positioned the referral program as an integral part of our overall business model, rather than just another promotion,” says Simon.
FutureNRG’s partnership with the Deakin Business Development Clinic is a testament to the power of fresh perspectives and structured business analysis.
By leveraging a comprehensive analysis of the business, the students helped Simon and his team unlock untapped potential in their referral program, delivering both impressive results and long-term business benefits.
FutureNRG’s Student Consulting Group:
- Bo Yan