Everything we know about referral rewards and incentives. (Hint: it's everything there is to know.)

Everything we know about rewards and incentives

You learn a thing or 39 working at Buyapowa, the world's leading referral marketing platform. And, day in day out, we share what we know with our hundreds of clients across all kinds of industries - from fashion and beauty to telecoms and financial services, and everything in-between.

One of the topics we're asked about most often is how to choose the perfect referral rewards and friend incentives. What are the different options available? Which ones work best in which circumstances? What value should they have? And what are the roles of rewards and incentives in the first place? Well, here's everything we know. And, now, you do too!

Rewards

  1. Referral rewards are a thank you to customers who have successfully referred their friends.
  2. They're also something to accelerate that referral in the first place.
  3. Guess what? The first point really isn't important. If the referral was going to happen anyway, a thank you is nice, but it’s ultimately unnecessary. Rewards should be designed to trigger actions that wouldn’t happen on their own.
  4. You’re rewarding referrals, but referring isn’t the action rewards should be designed to trigger. The actual action is sharing with a friend; whether they


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Tout sur les incentives et récompenses en parrainage

Everything we know about rewards and incentives

Travailler chez Buyapowa, la plateforme leader en parrainage digital, nous apprend beaucoup. Nous partageons jour après jour ce que nous apprenons au contact de notre centaine de clients à travers toutes sortes d’industries - de la mode à la beauté, en passant par les télécoms ou banques, et bien d’autres encore.

L’un des sujets sur lesquels nous est demandé le plus d’informations et de conseils fait référence aux récompenses et incentives idéaux. Quelles sont les différentes options possibles ? Qu’est ce qui fonctionne, dans quelles circonstances ? Quelle devrait en être la valeur ? Et quel est le rôle des récompenses et incentives en premier lieu ? Nous vous exposons ci-après tout ce que nous savons sur le sujet !

Rewards

  1. Les récompenses parrainage remercient le consommateur qui a parrainé avec succès. .
  2. C’est avant tout un levier pour encourager au parrainage.
  3. Par ailleurs si le parrainage allait arriver quoiqu’il arrive, un remerciement est toujours apprécié, mais pas nécessairement obligatoire. Les récompenses devraient être désignées pour provoquer une action qui ne se serait pas produite auquel cas.
  4. Récompenser les parrainages, n’est pas récompenser l’action de parrainer. L’action est de partager avec un ami, qui s’il converti


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Marketing Week says Co-buys "send conversion rates soaring"

Marketing_Week

What do we mean by 'rewards'? What kind of incentive is it when retailers offer the same boring savings to everyone? How can we expect customers to be loyal when it's rarely a two-way street?

These are some of the critical questions facing brands, retailers and marketers today. And Marketing Week have tackled them in a stand-out feature about vouchers and incentives, published in their latest edition. Unsurprisingly, they've consulted the experts: Buyapowa, plus two of our clients, Tesco and GameSeek.

It's a seriously good read. So, seriously, read it:

http://www.marketingweek.co.uk/a-personal-touch-gives-smarter-rewards/4010009.article

If you take it all in and decide that smart rewards aren't for you, we'd love to know how you can afford to take that risk.

If, on the other hand, you decide that clever incentives are exactly what your business needs, we'd love to speak to you about that, too - so we can help you get started.

EIther way, get in touch now.


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Analysis: Paddy Power are favourites to revolutionise social

Paddy Power In-Play

"Every man", said Paddy Power CEO Patrick Kennedy on a recent call with city analysts, "over the age of 18 on Facebook in the UK is connected to at least one Paddy Power fan."

Them's fighting words and, being a) a man, b) in the UK and c) waaaay older than 18 (weep), I thought I'd give it a go. Guess what? I'm connected to three Paddy Power fans. Turns out that hot air wasn't nearly hot enough.

The important thing, though, is that Paddy Power aren't simply sitting back on their laurels and enjoying their place at social's top table. It's not enough for them to have over a million people listening to them on Facebook, they've got people talking about them, too. In fact, if you compare them with other brands who have similar a number of Fans, they generate six times as much conversation as Costa Coffee, 48 times as much as Pringles and 83 times as much as Blackberry. And Blackberry are in the conversation business.

All this is because, 18 months ago, Paddy Power totally reassessed their growth strategy. As underdogs, they were in no position to compete on level terms with the likes of


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Is Social Commerce about to transform the betting industry?

Is Social Commerce about to transform the betting industry?

I spend a lot of my time working with clients, figuring out the best way to apply Social Commerce to their calendar, to their brand and to their industry. Sometimes, everything just adds up and it's a super-easy fit: retail, travel, pharma, FMCGs. Sometimes, it's not so simple (I'm recalling an interesting discussion with a sewerage wholesaler here - it might have been viable, but the project just smelled a bit 'off').

But one of the things I've always figured would be a real no-brainer is betting. What does Social Commerce excel at? Replicating the thrill of offline shopping online, adding value as people come together, ceding control to the customer in exchange for more and better business. And what does betting excel at? It's thrilling, it's about getting the most value for your stake and it's about getting one over on the house and increasing your chances of a win. Ladies and gentlemen - we have a perfect match.

So it was very cool to read this morning about Paddy Power's forthcoming real-money sports betting app, which has just started beta-ing its way through Facebook's test-tubes. The concept is simple and clever, adding: "social engagement to online betting, enabling


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