If you want to implement rewarded referral, see everything you can customize to reflect your company's identity. Many companies have implemented it and discovered that it is a very efficient and cheap form of marketing compared to other available strategies.
How does rewarded referral work?
The way rewarded referral works can vary from company to company. Generally, the existing customer or member receives a unique code or link that can be shared with others. When someone signs up or makes a purchase using this code or link, the referring customer receives a predetermined reward.
Unlike other forms of marketing where you first pay for an uncertain return, with rewarded referral your company will only pay after achieving its goal. Thus, in addition to providing more financial security, the results can be measured.
What types of rewards are offered?
Rewards can vary depending on the company. They may include discounts on products or services, credits for future use, giveaways, cash, loyalty points, among others. You can configure which gifts you want to offer directly through your account on Smarbis.
Are there any requirements to participate?
Each referral program may have its own requirements. Some programs allow any customer or member to participate, while others may require the participant to have previously made a purchase or be an active customer.
Is there a limit to the number of referrals I can make?
Some companies may have limits on the number of referrals that can be made, while others may allow unlimited referrals.
Tracking my referrals and rewards
Companies generally provide a way to track your referrals and rewards. It can be through an online dashboard, a mobile app, or even by email.
Do the rewards have an expiration date?
Some rewards may have an expiration date. For example, credits or points may expire after a certain period, while discounts may have a specific expiration date.
Also read Find out the value of a referral