Develop a referral program designed to encourage current customers to refer new customers while boosting retention. Identify key customer touchpoints where referral incentives would be most effective, such as [purchase confirmation], [account management], and [customer service interactions]. Propose incentive structures, such as discounts, exclusive products, or loyalty points, that reward both the referring customer and the new customer. Track key metrics such as [referral rate], [new customer retention], and [customer satisfaction] to measure the program’s success.