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!
- Referral rewards are a thank you to customers who have successfully referred their friends.
- They're also something to accelerate that referral in the first place.
- 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.
- 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