Not totally clear on what you are asking, but if the questions is; does giving out a referral code to an existing user in hopes that they would refer another work? My experience (largely in B2B software) is not all that well, at least not without some sort of incentive. Even if your user is super satisfied with the product/service you are providing, simply giving them a code to give another person doesn't necessarily drive them to make the handoff. Now, two things.
First, if you either incentivize the existing user with say a discount on his next bill or a free goodie, then he'll be more likely to do it... Even better, if you do that, plus give the referred user some kind of benefit, like a discount on his first bill, free trial or other goody, then it can work rather well.
Second, all that said, know that referrals in general are gold. You should test and do whatever you can to get referrals. Generally @Leads360 we found that providing really high quality customer service (more so than even the best product) lead to referrals. To that point, our sales people worked in tandem with customer service in this way.
Whenever a CS person realized they gave a great customer experience they would let the sales person know and they would then reach out to that customer while still warm from the nice touch and simply ASK for a referral. I was always surprised when we could get referrals simply by asking. I like to stick with 1 referral at a time, just ask for 1 person to be email connected with, don't overwhelm them with the statement "hey, can you refer your friends and colleagues to us", be specific. Something like "I see on LinkedIn you're connected with John B from ACME corp, I'd really like to speak with him about our product, would be willing to make an introduction for me".
Great advice from Jeff.
If you're referring to the online program, "Referral Key"... I've seen the program, I personally don't like it. I think it's one of the worst programs out there... it cheapens and devalues the sales process.
Why? Because at our very core, we humans are emotional creatures - we make decisions based on emotion. We justify with logic later.
Yes, I've certainly referred people and sometimes there's even a finders fee - however the finders fee was not the motivating factor to providing the referral. TRUST in the person receiving the referral is the factor...
If, and I'm only guessing as I know you only get 150 characters to post a question, you're looking for a way to get referrals... then the trick is this... you EARN them ;-)
Linkedin has proven to be one of my best online platforms to earn business. I use linkedin to share knowledge, contribute to posts by others, make introductions, give (earned) endorsements, give (earned) recommendations... in return I've been wonderfully rewarded - I've earned business in return.
The beauty about Linkedin is that when someone refers you, that person can view your endorsements (social proof) and recommendations (proof of results).
How do you get a referral. You give one to get one, but don't expect one.
I haven't found Referral Key to be very beneficial at all. I got a lot of spam from them. It is like a generic "LinkedIn" and the site is often down.
I use one platform for mostly all of my online marketing strategies and lead generation.