How do you structure a good referral program?
Lodovico Sella
21 replies
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.
Replies
Sebastian Janus - derStartupCFO@derstartupcfo
Pitch Deck Catch Phrases
Don't forget to use catchy headlines π
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@derstartupcfo A great reminder! Thanks πβ
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.
KoolStories
@dilan_aydin Yes I agree with you thank you for your answer
Flex-Worthy Templates
Giving different reward at different number of referrals
KoolStories
@shushant_lakhyani Okay, could you give an example?
Flex-Worthy Templates
@lodovico_sella You can check out this article to get an in-depth analysis: https://medium.com/the-mission/h...
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
KoolStories
@murali_aasaan Makes sense. Thanks for sharing with us. β
FUNCTION12
Providing extra rewards or discount for users with many referrals can also work too!
KoolStories
@shawn_park_f12 Surely!βππ
@shawn_park_f12 ππβΊ
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.
KoolStories
@chetan_natesh Alright, noted. β
Donβt forget to check how your competitors are doing it!
KoolStories
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
KoolStories
@jim_dusbiber Great, thanks for sharing!ππ