What’s the deal with referral programs?Deals The List
There are all kinds of newfangled ways marketers use to hook you into their brand, but one of the best methods is also one of the oldest — word-of-mouth referrals from a trusted friend. Jimmy Rhoades has valuable tips that can earn you rewards.
1. All About Me
These are programs that reward the person making the referral. Examples include online presentation software Prezi offering a free three-month upgrade, Book of the Month Club giving away a free book, or Google giving you $15 in cold, hard cash for getting a new business to use its G-Suite office software. There might be other promotions they can take advantage of, but the new customer doesn't get a reward tied to your referral.
2. All About Us
PayPal, Airbnb and Lyft all have referral rewards that stick to both the person making the referral and the new customer. These two-sided programs cost companies more, but if they can drive serious expansion. For instance, Lyft wants to snag riders from Uber so their aggressive rewards include $50 in redeemable ride codes for the new rider, and $10 per referral for the existing customer.
3. All About More
These are companies that give you more of their service or product whenever you refer. The best example here is Dropbox which gives you more of what you already have with them – online storage of 500 megabytes for Dropbox Basic users and a full gig for Pro users. Another example: World of Warcraft… Refer a friend from within the game and you can choose from mount and pet rewards, including the brand-new Emerald Hippogryph. The blanket disclaimer is that you don't get your reward until the new customer meets certain requirements and these programs are fluid, so hop online and read the fine print.
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