How to pay out over 300M in referral commissions while driving growth
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Show Notes
Raul is the Chief Advocate at ReferralCandy, the #1 referral program platform online
Since its launch in 2009, they have over 30,000 paying users with over $10M in annual revenue. What’s even cooler is that since then they’ve paid out over 300M in referral commissions to clients.
Referrals are the key for a lot of businesses. For instance, MorningBrew has reached over 2.5M subscribers and attributes 30% of their subscribers to be from their referral program. The same goes for Harry's when they gathered 100K emails in a single week.
In this episode, Raul shares we can use customer referral programs to drive growth while building strong partnerships and customer relations. Insights he shares include:
- What it means to give value without expecting anything in return
- Why customer referral program ideas will not solve your business problems
- Why are businesses happy to invest in ads but not discounts or cash for referrals
- How to ensure you are ready for a customer referral program
- How to gain referrals in a way that is relationship-oriented as opposed to transactional
- Explore the intersection between referrals and performance marketing
- Customer referral program ideas
- Why ReferralCandy treats all partners alike
- Why effective customer referral program ideas require a bit of a mind shift
- and much much more ...