In this era of rapid digitization, startups and entrepreneurs are raising millions of their money every day. Founders need to try out new formulas to grow more potential consumers to their service. Small businesses don’t have an overflow of a cash injection and don’t have enough cash to try new ways of raising investments. So, it’s better to stick with referral marketing to get customers.
For any particular item, user purchase from your website will get some special discounts and tokens to make your customer feel reasonable to purchase from you. These also include product giveaway, exclusive gifts, gift cards, and cash. Here are some example companies you can inspire yourself to go on with referral programs.
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Dropbox is a famous referral marketing site. It is a well known online/cloud storage company. They started their referral campaign by giving 500MB space for both uses of referral and advocate. This policy led them to a 60% increase in total sign-ups. The authorities of Dropbox soon understood the need of all the users. Then they promised to give the customers referral awards, which are more storage space.
Uber has millions of users all across the globe. They are more advanced in referral marketing. They are known as one of the top referral marketing companies. Uber treasures their growing adventure. Their decision made the Uber we know today. Uber’s incorporation referring to marketing policy gained them a lot of spotlights. The primary source they used was a mobile app.
Uber’s innovative idea of using an app to connect people to get a ride has been so successful that f companies started using a mobile app as a referral marketing source. This referral marketing policy benefits not only the rider of the vehicle but also the driver.
Tesla is a car company that has changed its referral programs in years about customer basis to grow its business. They offer a customer a thousand dollars if they refer a friend. Yet they have changed their strategies into giving Tesla owners who refer get better prizes within an exclusive battery. Also, it’s even better if a referrer refers to twenty people in their region who will get a free model X or S. Some referrals get an exclusive chance to buy special editions that are not available to others.
These referrals reflect how much testing is needed to get done to see if the referrals work in the campaign works or not.
The referral marketing campaign for Airbnb is one of the best in the world. If you are a marketer, you already have an idea about this.
Airbnb has a unique way of raising awareness, and they have improved each technique and mastered every step. Airbnb offers a 2-way incentive program to users, and this means that the receiver and referrer will have twenty-five dollars credit in their wallet once the receiver completes his or her first trip. Also, when the receiver hosts someone, the referrer will have seventy-five dollars.
Evernote is a note-taking app that launched a referral program that gives customers rewards whenever they make referrals. These points can be redeemed for free to get the premium features of the app. Every time the referred user upgrades Evernote’s premium version, the referring customer will gain points. Now, this service has hundreds of million users, and they have thirteen million referral users.
iStock gives free stock images, audio tracks, and videos for online use. The referral program has its steps to enable consumers to pick their referral reward. They give users three options: commission, credit, and cash to manage a more significant community of potential consumers.
● Commission: If the user gets a pack within one month, they will get 20% on this sale.
● Credit: If a user buys thirty credits in three days, then another twenty credits will be provided by the authority.
● Cash: They offer twenty dollars in cash for each new customer, whoever bought thirty credits for around one month.
Skillshare is an online education site. It provides many learning packages, including an effective referral program. A regular Skillshare user gets the opportunity to invite friends -and that shared person gets free two months of premium Skillshare access. In the current world with COVID-19, online classes are benefiting people more and more. It was never possible to be comfortable when learning something.
Skillshare has a generous amount of referral programs. The person who had the free premium experience he is most likely to suggest Skillshare to other persons.
8. Sam’s Club
Online store Sam’s club encourages people to refer friends to have extra gift cards for both parties. The existing member will have a link to share friends. A referral who joins the club will get a 10$ gift card sent to the current user, and a 20$ card will be sent to the referral. So, customers will come back for referral gift cards, and more purchases will be made with it. This will generate quick sales even if the person doesn’t intend to buy anything they will use before the card exceeds the expiration date.
Upserve sells restaurant software with a customizable structure of worker schedules, points of sales, rewards for regular diners. It’s very much popular among restaurant owners.
The Upserve referral program has a unique twist. If a friend refers to a friend to sign up, the company will give $200 to the clean water fund. This approach is an exciting and satisfactory source of motivation for active customers. It’s like if you do good things for others, you will gain happiness rather than do it yourself. This referral program gives people to do the part of a charity.
10. Scribe Writing
Scribe writing is a book publishing company that offers $2,000 for every referral users make. Authors who publish their book can refer other authors if they sign up, and they will have cash in their account. Also, there is an option of donation if you want to donate your money to charity.
This strategy helps writers to get customers and attracts other authors to get inspired to publish writings. The reward is compelling, and new authors are likely to trust other authors who have experienced this service.
Referral programs are meant to grow your business and obtain potential customers. You should do it right to maintain your company’s growth. If you understand these referral programs, your small company will be off to a good start.
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