In today's article, we will talk about referral programs for earning, you will learn how to choose the best one, as well as how to earn from it $500 per month.
A referral program is a marketing tool that encourages your existing customers to share your brand with their friends, colleagues and family members, acquaintances, and so on. In exchange for sharing and recommending your brand, they may receive additional bonuses, discounts, or even a fixed percentage of the sale.
The beauty of the referral program is that it helps companies easily identify their biggest fans, as well as track exactly where their new customers are coming from.
A referral program can be a big advantage for any business. Here are four main reasons why the referral program is awesome:
1. Standardization of the exchange process. If your business offers exceptional products and services, customers will be happy to recommend you to others. However, even your happiest customers may not always remember to talk about your business. If they don't see a friend or family member in need of your product or service, they may never consider recommending others.
This is where a referral program can help. The referral program standardizes the way in which customers are invited and rewarded for sharing their brand with others. By offering an official referral program with clear and attractive rewards, you can increase the chances of your business being talked about.
2. Attracting new customers at a very low cost. Referral programs encourage your current customers to spread the word about your business with the promise of rewards. But how much does the referral program cost? The value of referral rewards is fixed and these rewards are only paid for performance. The result is a much lower customer acquisition cost compared to most forms of advertising.
3. Attracting quality customers. It has been proven that attracted customers spend 25% more, and the probability of repeat purchase increases three times. It promotes interactions related to your business and can help you build an online community to connect with customers.
4. Referral programs are effective. Some of the most popular companies have been successful thanks to a strong referral program. PayPal and DropBox are among such companies.
As a rule, in any referral program there are three participants. A company that creates a product or service. Affiliate (webmaster) who recommends a product of a particular company. A referral is someone who bought a product on the recommendation of an affiliate.
Thus, the affiliate recommends someone else's product, and if this product is bought on his recommendation, he receives a reward. This can be a percentage of the sale, or additional discounts, gift certificates, etc.
Simply put, you sell other people's goods, services or services and receive a percentage for this.
In order to recommend someone else's product, a special affiliate link is assigned to the affiliate. Thanks to this, you can track all the statistics and your sales. Of course, there is also another system. When there are no affiliate links and you need to track whether there are sales on your recommendation yourself
Before you start earning, it is important to understand what exactly. To do this, you need to find some good referral programs. Here are a few criteria that you should pay attention to:
- Percentage of remuneration;
- Product quality;
- The company and its reputation;
- Terms and conditions of the referral program;
- product cost, etc.
Next, you will need to analyze the referral program itself and its product. In addition, it is also important to understand and make an analysis of the target audience. That is who is the ideal buyer for this product. Why they buy it, what problems the client solves thanks to this product. What objections and what barriers may be on the way to making a purchase decision.
It is also worth analyzing your competitors who also cooperate with this referral program. Here you need to understand exactly how they recommend this product, what strategies they use. What can be borrowed from them, and what can be done better.
After this analysis, you will need to sign up for these affiliate programs and get your affiliate links. It is important to choose several referral programs at the start, this is necessary to understand which one will work best in your case.
Next, you will need to understand how to recommend an affiliate product and how to attract referrals. There are many different strategies here. Firstly, the strategy for attracting referrals will depend on the conditions of the company itself. Many companies initially set rules for how you can recommend their product. For example, many prohibit the use of spam or direct advertising on behalf of their company.
Secondly, the strategy for attracting referrals will depend on the tools you work with. For example, if you are good at YouTube, you can generate leads by creating video content. If you are well versed in SMM, then you can look for referrals thanks to social networks. networks and so on.
In addition, you can also create your own website that will be closely related to the product. Next, you will need to fill this site with content and promote your web resource in search engines.
In the articles of your site, you will need to place your affiliate links. Over time, when people start visiting your site, they will start clicking on those links. Thus, you will begin to receive referrals and, accordingly, sales.
By the way, it is not at all necessary to first choose an affiliate program, and then create a website or a YouTube channel. You can go from the opposite, first you can create your own blog or public on a specific topic, and only after that select a referral program for it.
In addition to the site, blog or social. networks, you can use other ways to recommend a product using referral programs. For example, you can recommend it to your friends, relatives or acquaintances.
In addition, such recommendations can be as an accompanying upsell to the services or products that you sell. For example, if you make websites to order, then you can register in the referral program of some good hosting and register a domain and hosting for your clients using an affiliate link. Or if you have a travel agency, then you can offer travel insurance to your clients by cooperating with insurance companies through a referral program.
A similar strategy for promoting referral programs can be implemented in any niche. It is important to find related products or services that are close to your business.
After you choose referral programs and start attracting referrals, you will need to scale this scheme. For these purposes, you can develop your site, increase its traffic or add other ways to attract potential customers. For example, social networks or paid advertising on the Internet.
You can also work on increasing the conversion of your web resource. That is, with the same number of visitors, you have more referrals. You can also use other ways to scale your activity. For example, you can start promoting other referral programs as well.
Over time, you will also be able to create your product based on the referral program that you recommend. And instead of someone else's product, you will already be offering your product to potential customers. Thus, your earnings will be higher. For example, if you have your own beauty parlor, then instead of creams from another company, you can start producing creams under your own brand.
There are a huge number of different affiliate programs that are not so difficult to find. To do this, just use the search engines. However, among them there are not so many really good ones.
Here are a few you can partner with:
Aviasales is an airline ticketing service and has a great referral program. By the way, you can earn up to 70% of ticket sales on it. This affiliate program is primarily suitable for those who are associated with travel and tourism. If you have a travel website or a blog, then you can safely take this service to your attention.
Skillbox is an online university on the website of which you can find a huge number of different courses. For example, marketing, design, programming, SMM, etc. This company offers quite flexible and pleasant conditions for cooperation. There is no specific binding to the topic, so the courses of this company can be recommended on almost any site.
Referral program how to earn: Ozon
Another good referral program of a well-known online store. This site offers many different products that you can recommend and earn a percentage of the sale for. With Ozon, you can earn up to 18% on the sale of a single item.
In order to start earning, you need to register and choose the right product that you can advertise on your blog.
To find a good referral program, it is not at all necessary to use those that we wrote about above. It is also not necessary to search for them on the Internet. For these purposes, you can use your contacts and connections.
To do this, simply find among your friends, relatives or acquaintances those who have some kind of business. And offer them cooperation under the referral program scheme. You bring customers to them, and they pay you a percentage of sales. In this scheme, it is important to choose those goods or services that are in high demand. For example, manicure, plumbing services, teeth cleaning, massage, etc.
To attract customers, you can also create your own website or YouTube channel, in addition, you can use the social. networks or bulletin boards.
Of course, here you will not have an affiliate link, so you will have to control the entire process manually. However, this way of earning on referral programs has its advantages. Firstly, there is no competition and other affiliates that cooperate with this company simply do not exist. Secondly, you will have more pleasant and favorable conditions for cooperation.
Referral programs for earning money are a great way to start making money thanks to the Internet. To start, you need to choose a company that has a referral program with a high-quality and popular product. This product must be massive and in constant demand. For example, hosting, flights, online courses, etc.
To attract referrals, you need to know the basics of marketing. For these purposes, you can explore SEO, YouTube, Tik-Tok or Instagram. It is quite possible to earn here from $500 per month, however, in order to achieve this result, you will need to make a lot of efforts.