If there is an existing referral program, the referral contest incentive should be better than what is offered in your current referral program. So, if the referral program offers a percentage discount, the contest incentive could be a dollar amount, discount, or free products.
Referral incentives are essential as it drives new customer acquisition. The incentive is an extra push for the referred Friend to take action and make a purchase. These are the types of incentives to offer:
Dollar amount discounts
Percentage discounts
Free denmark phone number list subscription months
Free trial periods
Free shipping
Free products or samples
Gift cards
Branded merchandise
Learn more: Setting Up a Friend Incentive – Friendbuy Help Docs
A referral contest is an opportunity to identify “super” Advocates, those customers who will refer as many friends as possible to win a reward. You can reward Advocates for various triggers, such as the number of Friends who bought products or shared the most on social media. A contest raffle is also another way to appeal to Advocates. For every referral, they get a ticket and enter into a raffle to win a prize.
The types of referral rewards that work well in referral contests are:
Branded swag
Store credit
Third-party gift cards
Cash prizes
Free products or services
But we’re not talking about the usual 20% off discounts. We’re talkin’ head-turning, jaw-dropping rewards that they haven’t seen in your referral program before (or maybe ever will again).