They say that the best deal is when both parties benefit.
In other words, we both win.
So let’s make that happen with a referral system, also known as a “Double-Sided Referral Program”.
To create and launch a Double-Sided Referral Program, you should ensure that you are able to deliver exactly what you set out to, i.e. is the offer and discount technically possible at your company.
Once you understand what is technically possible, you can figure out the economics of your program.
Of course, you need to make sure that your referral program is sustainable and helps you grow in a way that produces a positive return on investment.
Dropbox had a great example of this and one that made its growth stratospheric: every referrer and referred would gain extra data storage capacity in their accounts, i.e. a classic “win-win”.
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