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What is best strategy for referral?
Here are several tactics that worked well the respective companies. They may work differently for you depending on your product or service.
Most of them offer a financial reward for both the referrer and referee.
1. PayPal. They literally gave away free money, and it worked out great for them. And this was before social media!
They gave away $5 to users who referred someone. They eventually phased this out once they had "enough" users
2. Dropbox. Modeled after PayPal, Dropbox’s referral program got 4 million users in 15 months.
They gave users extra space (16 GB) for a referral.
3. Airbnb. A single user in China led to thousands of signups and hundreds of bookings in a single month.
They gave a referral travel credit $25 to you for referring and $75 to the new user when they make a booking.
4. Uber. They’ve been in a unique position to run multiple referral programs at once – for users and for drivers.
Discounted first rides for new riders and ride credits for referrer.
5. Tesla – $1,000 for both advocate and friend, with quite a start-studded list of advocates!
They reward advocates for throwing parties, and even give away chances to win free a free Tesla Model S.
6. Amazon Prime –Likely one of the most heavily-used referral programs in recent times.
When a friend joins they get a $5 credit towards their purchase. When they make a purchase you get $5 for referring them.
7. Evernote - Their referral program relies on a point system.
It gave referrers and new users additional space and/or Premium membership.
A good question to ask yourself to create your own referral program:
What do you have - can you offer a service for free if it means new users/sales?
Source for more info:
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