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Trends #0025 — Referral Programs
Trends #0025 — Referral Programs
1. 
Problem
You need to make sales, find employees or get deal flow.
ProblemYou need to make sales, find employees or get deal flow.
2. 
Solution
Referral programs incentivize others to help you sell, hire & invest.
Rewards may be cash, credit, discounts, products or experiences.
SolutionReferral programs incentivize others to help you sell, hire & invest.
Rewards may be cash, credit, discounts, products or experiences.
3. 
Referral Programs
ConvertKit ( @ConvertKit)
Peloton ( @onepeloton)
http://Indie.vc Scouts ( @indievc)
Harry's ( @harrys)
Glossier ( @glossier)
Referral Programs ConvertKit ( @ConvertKit) Peloton ( @onepeloton) http://Indie.vc Scouts ( @indievc) Harry's ( @harrys) Glossier ( @glossier)
4. Referral Programs (con't)
Airbnb ( @Airbnb)
Gloat ( @dr)
YNAB ( @ynab)
Kabbage ( @KabbageInc)
Soylent ( @soylent)
Referral Programs (con't) Airbnb ( @Airbnb) Gloat ( @dr) YNAB ( @ynab) Kabbage ( @KabbageInc) Soylent ( @soylent)
5. Publishers
Wirecutter ( @wirecutter)
eBiz Facts ( @ebizfacts)
Honey ( @honey)
Skyscanner ( @Skyscanner)
The Points Guy ( @thepointsguy)
5-Bullet Friday ( @tferriss)
Fatherly ( @FatherlyHQ)
NerdWallet ( @NerdWallet)
No Code List ( @truedrewco)
Publishers Wirecutter ( @wirecutter) eBiz Facts ( @ebizfacts) Honey ( @honey) Skyscanner ( @Skyscanner) The Points Guy ( @thepointsguy) 5-Bullet Friday ( @tferriss) Fatherly ( @FatherlyHQ) NerdWallet ( @NerdWallet) No Code List ( @truedrewco)
6. 
Predictions
Referral programs will be used in most newsletters.
Tools like @RabbitRabbitHQ and @SparkLoopHQ make this easy. https://trends.vc/trends-0011-paid-newsletters/
Predictions Referral programs will be used in most newsletters. Tools like @RabbitRabbitHQ and @SparkLoopHQ make this easy. https://trends.vc/trends-0011-paid-newsletters/
7. Predictions (con't)
As firms get smaller, referral programs will become more popular.
Creators will focus on core competencies and get help selling.
Predictions (con't) As firms get smaller, referral programs will become more popular.Creators will focus on core competencies and get help selling.
8. 
Opportunities
Use dual-rewards.
• @Dropbox gives referrers and referees 500 MB of storage.
• @amuze gives both $25 off.
• @TrunkClub gives both $50.
• @Seedrs allows the referrer to decide who gets the reward.
Opportunities Use dual-rewards.• @Dropbox gives referrers and referees 500 MB of storage.
• @amuze gives both $25 off.
• @TrunkClub gives both $50.
• @Seedrs allows the referrer to decide who gets the reward.
9. Opportunities (con't)
Use referral programs to get deal flow.
FoundersClub and http://Indie.vc ( @indievc) have scout programs.
Opportunities (con't) Use referral programs to get deal flow. FoundersClub and http://Indie.vc ( @indievc) have scout programs.
10. Opportunities (con't)
Use referral programs to sell digital products.
Daniel Vassallo ( @dvassallo) and Wes Bos ( @wesbos) use affiliates to sell courses. https://trends.vc/trends-0022-digital-products/
Opportunities (con't) Use referral programs to sell digital products. Daniel Vassallo ( @dvassallo) and Wes Bos ( @wesbos) use affiliates to sell courses. https://trends.vc/trends-0022-digital-products/
11. Opportunities (con't)
Build a referral program for your productized service.
See WP Engine ( @wpengine) and Gloat ( @dr) https://trends.vc/trends-0017-xaas-anything-as-a-service/
Opportunities (con't) Build a referral program for your productized service. See WP Engine ( @wpengine) and Gloat ( @dr) https://trends.vc/trends-0017-xaas-anything-as-a-service/
12. Opportunities (con't)
Buy niche sites and negotiate commissions.
This shortens your payback period. Matt Giovanisci ( @MattGiovanisci) routinely negotiates with merchants. You’ll have more leverage with smaller vendors. https://trends.vc/trends-0012-micro-private-equity/
Opportunities (con't) Buy niche sites and negotiate commissions.This shortens your payback period. Matt Giovanisci ( @MattGiovanisci) routinely negotiates with merchants. You’ll have more leverage with smaller vendors. https://trends.vc/trends-0012-micro-private-equity/
13. Opportunities (con't)
Build apps to generate affiliate income. See @honey and @Skyscanner.
Both are billion-dollar companies. You can do this on a smaller scale.
Use growth tools to promote your products. Or someone else’s. https://trends.vc/trends-0016-growth-tools/
Opportunities (con't) Build apps to generate affiliate income. See @honey and @Skyscanner.Both are billion-dollar companies. You can do this on a smaller scale.
Use growth tools to promote your products. Or someone else’s. https://trends.vc/trends-0016-growth-tools/
14. Opportunities (con't)
Summarize books. @JamesClear earns money from Amazon Associates.
@nateliason summarizes books too. And sells access to his notes.
Learn by teaching, make money and build a personal brand. https://trends.vc/trends-0023-personal-brands/
Opportunities (con't) Summarize books. @JamesClear earns money from Amazon Associates.@nateliason summarizes books too. And sells access to his notes.
Learn by teaching, make money and build a personal brand. https://trends.vc/trends-0023-personal-brands/
15. Opportunities (con't)
Run contests instead of giving 1-for-1 rewards.
Think 99Designs meets referral programs. This is an asymmetric play. Leaderboards also work. https://trends.vc/trends-0021-gamification/
Opportunities (con't) Run contests instead of giving 1-for-1 rewards. Think 99Designs meets referral programs. This is an asymmetric play. Leaderboards also work. https://trends.vc/trends-0021-gamification/
16. Opportunities (con't)
Build a referral program for your paid community.
Food Blogger Pro, a learning community, pays 20-40% commissions on a recurring basis. https://trends.vc/trends-0014-paid-communities/
Opportunities (con't) Build a referral program for your paid community. Food Blogger Pro, a learning community, pays 20-40% commissions on a recurring basis. https://trends.vc/trends-0014-paid-communities/
17. Opportunities (con't)
Use referral programs to build marketplaces.
Lenny Rachitsky ( @lennysan) shares how he attracted new hosts to Airbnb. https://www.lennyrachitsky.com/p/this-week-16-building-a-referrals
Opportunities (con't) Use referral programs to build marketplaces. Lenny Rachitsky ( @lennysan) shares how he attracted new hosts to Airbnb. https://www.lennyrachitsky.com/p/this-week-16-building-a-referrals
18. 
Haters
“Why did you mention affiliates? The topic was referrals.”
Referral programs target existing customers. Affiliate programs target partners. The goal is the same. Sales. The title was a toss-up.
Haters“Why did you mention affiliates? The topic was referrals.”
Referral programs target existing customers. Affiliate programs target partners. The goal is the same. Sales. The title was a toss-up.
19. Haters (con't)
“Why not do sponsorships instead?”
They’re not mutually exclusive.
Haters (con't)“Why not do sponsorships instead?”
They’re not mutually exclusive.
20. 
Links
Joe Smith made $150k from a niche site in 15 months. https://medium.com/the-post-grad-survival-guide/how-i-made-150-000-from-my-bedroom-8784c2f85df3
LinksJoe Smith made $150k from a niche site in 15 months. https://medium.com/the-post-grad-survival-guide/how-i-made-150-000-from-my-bedroom-8784c2f85df3
21. Links (con't)
Danielle Simpson ( @SimpsonDaniK) and Arvid Kahl ( @arvidkahl) built and sold Feedback Panda.
They used a referral program to boost growth.
Interview by @robwalling https://www.listennotes.com/podcasts/startups-for-the/episode-492-from-zero-to-55k-7EcVnA_o2Of/
Links (con't)Danielle Simpson ( @SimpsonDaniK) and Arvid Kahl ( @arvidkahl) built and sold Feedback Panda.
They used a referral program to boost growth.
Interview by @robwalling https://www.listennotes.com/podcasts/startups-for-the/episode-492-from-zero-to-55k-7EcVnA_o2Of/
22. Links (con't)
Dom Wells, founder of Human Proof Designs ( @Human_Proof), went from running his own niche sites to building them for others.
Interview by @TropicalMBA https://www.listennotes.com/podcasts/the-tropical-mba/tmba494-the-affiliate-F63TLaO_ZMY/
Links (con't)Dom Wells, founder of Human Proof Designs ( @Human_Proof), went from running his own niche sites to building them for others.
Interview by @TropicalMBA https://www.listennotes.com/podcasts/the-tropical-mba/tmba494-the-affiliate-F63TLaO_ZMY/
Trends #0025 — Referral Programs https://trends.vc/trends-0025-referral-programs/
With Trends PRO you'll get:
• 22 Opportunities (110% More)
• 16 Summarized Links (220% More)
• 30 Referral Programs (200% More)
• 3 Predictions (50% More)
• 16 Affiliate Marketers (60% More)
• 31 Publishers (210% More)
• 22 Opportunities (110% More)
• 16 Summarized Links (220% More)
• 30 Referral Programs (200% More)
• 3 Predictions (50% More)
• 16 Affiliate Marketers (60% More)
• 31 Publishers (210% More)
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