HOW CAN REFERRAL PROGRAMS SUPERCHARGE Your Business growth

Imagine a coffee shop that you visit regularly has a referral program. Sometimes, as a loyal customer, you might receive a special referral card with a unique code.

Once you give this card to a friend and when they make their first purchase, you and your friend get a reward—like a free coffee or a discount on your next order.

This example demonstrates a referral program by showing how a coffee shop uses incentives to encourage existing customers to bring in new ones. When your friend uses the card to make their first purchase, it helps the shop track these referrals using the code, ensuring that both benefit from the program. This approach uses happy and trusting customers to bring in new ones, showing how referral programs help a business grow by encouraging people to spread the word.

What is a referral program?

A referral program is a marketing strategy that uses wordof-mouth to grow a business. It involves getting existing customers, influencers, or partners to recommend a particular business's products or services to their friends and contacts. This can be done through customer reviews or official partnerships.