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How do you structure a good referral program?
I feel building an efficient referral program is very important for businesses especially for startups! Here are my points on structuring a good referral program :
- Asking your audience
- Having a clear CTA
- Offering premium rewards.
- Analyzing and Improving our approach
- Engaging with other business owners.
Let me know what is your preferred strategy for a good referral program.
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Chetan Natesh
One tip regarding rewards - give reward to person joining and if they refer someone, the person they referred will also get a reward. This is apparently the best structure.
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Ours referral program is just plain and straightforward, identify power users and have them refer, and give a good incentive, and you would have your power users validate your product which itself would give a lot of sales
Providing extra rewards or discount for users with many referrals can also work too!
1. Get clear about your goals
2. Make a list of your existing customer referral sources
3. Make an outreach plan
4. Determine the referral incentives you'll offer
@lodovico_sella You can check out this article to get an in-depth analysis: https://medium.com/the-mission/h...
Your points are really clear and useful! Shareable content can contribute to the referral program. Content related to your business can be shared organically by users. Especially B2C companies should use that. For example, an astrology app should add a short version of a daily horoscope in its referral program.
