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Optimizing Incentive Structures for Referral Programs

by on Aug 29, 2012

  • 1,833 views

Running an incentive program to reward your ambassadors for referrals is a time-tested method of dramatically increasing WOM success. The refer/reward structure taps into an innate desire to help one ...

Running an incentive program to reward your ambassadors for referrals is a time-tested method of dramatically increasing WOM success. The refer/reward structure taps into an innate desire to help one another.

Basically, people like to give referrals; they absolutely love being rewarded for it. Such programs present a lot of room for creativity in the structure, cost and development of the referral incentives.

Incentives can run across a broad spectrum incorporating both monetary and non-monetary offers. With so many options though, finding the right incentive can be difficult. Business’ must assess a number of financial and demographic components to ensure they are getting the most from their program.

In this presentation, you’ll learn how to optimize your incentive structure to improve your business’ WOM marketing exponentially.

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Optimizing Incentive Structures for Referral Programs Optimizing Incentive Structures for Referral Programs Document Transcript