Reward client with an Upgraded

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Reward With An Upgraded Product Or Service

If you’re looking to gain more referrals without spending too much money, then consider simply upgrading someone’s current service in exchange for a referral. It’s a technique that has worked well with other companies.

For example, the company DropBox has a referral program that gives customers more storage space at no additional cost for each referral, up to 16 GB. The more people that they refer to dropbox, who result in a sale, the more storage they’re rewarded with.

Upgrades are especially beneficial to long-time users of DropBox, since so much of what we do now is online and storage is a big concern. Just take a look at your cell phone bill sometime. The more data you use, the more you’re charged.

The same goes for saving files online.

With DropBox, a customer can be rewarded with upwards of 500 MB per successful referral. That’s a significant amount of storage space, and therefore, a good referral marketing program.

Dropbox also comes out ahead financially. The referral marketing program allows them to gain new customers without having to pay for advertisements.

Before they implemented the program, they hadn’t seen any net profit for a staggering three years.

By using this incentive program, however, they not only came out ahead, but ultimately saved the business from failing.

Chances are good that people who use a service like DropBox know other people who need the same service. The same probably goes for your company, since people with the same interests tend to stick together.

If you’re a cable or satellite service, you can offer existing customers an extra tier of premium channels at no additional cost, for a specific amount of time, for each successful referral.

 

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If they’re more into using the internet, then consider offering them a faster internet speed at no additional cost with successful referrals.

Consultation services, such as for finances and legal help, can offer something like a free hour of services in exchange for a referral.

If you decide to go this route with your referral program, you may very well find that you’re saving money in the long run.

The next time a customer has a successful, positive interaction with your company, take a look at what they bought and see how you can encourage them to send more business your way by offering an upgrade.

What you decide to upgrade, of course, depends upon the type of business that you run.

Be sure to tune into tomorrow’s email, where we’ll discuss the benefits of retargeting ads!

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