CoClo: The Start-Up Revolutionizing Referral Management

CoClo is setting out to change channel chiefs’ minds about the power and value of referral programs and management systems through its revolutionary service.

Referral programs have long been a powerful tool in sales, offering warm leads and providing a direct path into valuable networks. Yet, despite the proven success of these programs, many companies overlook their full potential. Matt Cook, founder of CoClo, joins Channelnomics CEO Larry Walsh on “The Network Effect” to explore the disconnect and how CoClo is working to change the game.

As Cook explains, referrals are incredibly effective. Channelnomics research shows they have a 60% higher conversion rate than traditional marketing leads. Companies with formal referral programs also see revenue growth that outpaces that of their peers by 33%. The power of referrals lies in the inherent trust that comes with personal recommendations. Customers referred through trusted contacts are often ready to commit, and the resulting engagements tend to have a 25% higher lifetime value.

Despite these impressive statistics, however, many businesses fail to implement structured referral programs. Cook attributes this to a lack of transparency and automation, which leaves many referring parties in the dark about what happens after a lead is submitted.

Enter CoClo. Cook founded the company with the goal of bringing much-needed transparency and trust to the referral process. CoClo is designed to bridge the gap between businesses and non-transacting partners — people like influencers or community leaders who can provide referrals.

The service’s strength lies in its ability to track every referral from submission to completion, ensuring that everyone involved remains informed and engaged throughout the process. This transparency is critical, as it increases the likelihood that more referrals will be made, and with a higher degree of trust between parties.

CoClo, a partner of Channelnomics, also addresses a common flaw in corporate lead-generation strategies: an over-reliance on cold outreach. While businesses typically pour resources into business development representatives (BDRs) and marketing campaigns to chase cold leads, CoClo emphasizes the value of warm leads — those that come through relationships. These leads tend to convert faster and at a higher value. According to Cook, CoClo’s approach encourages companies to shift their focus away from chasing cold opportunities and instead nurture the relationships that provide more reliable paths to success.

CoClo’s vision extends beyond simply improving referral programs; it seeks to change how companies approach non-traditional sales routes. By fostering better collaboration with influencers and other non-transacting partners, CoClo enables businesses to maximize the potential of their networks. Additionally, CoClo’s seamless integration with existing customer relationship management (CRM) systems ensures that the referral process is not only transparent but also scalable.

As CoClo continues to evolve, Cook’s goal is clear: Improve the value that partners bring to the table. “We’re not here to compete with resellers or integrators,” he said. “We’re here to enhance their ability to drive value through referrals.” This unique approach positions CoClo as a key player in the future of B2B sales, helping companies turn warm leads into long-term, profitable customer relationships.

Hear how CoClo is revolutionizing sales referral management and driving new opportunities for companies to grow through the power of warm relationships. For more information, visit CoClo.ai or contact Channelnomics for an introduction to CoClo’s team.