REFERRAL PROGRAMS ARE LOW-COST AND PROMOTE SUSTAINABLE GROWTH.
What is a referral program?
- Marketing through paying people to promote your product
- Rewarding loyal customers through rewards
- This partnership drives sales and helps promote the services your company offers
For example: Instructor X offers a 50% off (1 month subscription) promo code for any current client who gets a friend to subscribe.
One step further: Instructor X offers a 50% off (1 month subscription) promo code for any current client who gets a friend to subscribe and ALSO gives a 50% off (1 month subscription) promo code for any new client that signs up via referral.
The result: Next month, they are both already on your subscriber list and are paying FULL price. This pays for itself!
Are referral programs worth investing in?
You’re not losing money by giving monetary or discount incentives in the long run. Your client list is growing which is the best way to increase potential sales. They are DEFINITELY worth investing in.
3 STRATEGIES TO IMPLEMENT TODAY:
Create a custom PROMO CODE for your customers who refer friends
Establish a DRAWING to win a large prize if people refer others to your program
Give out FREE CLASSES for new customers and encourage clients to bring friends