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We hear a lot about how great referral programs are because of newsletters like @MorningBrew and @TheHustle
But in reality, a referral program shouldn't be an early concern.
Short thread (promise)
But in reality, a referral program shouldn't be an early concern.
Short thread (promise)
For a referral program to work, people need to share your stuff. Make sure you produce great stuff people are compelled to share.
(this is the most important tip in the whole thread. You could stop reading now and be good)
(this is the most important tip in the whole thread. You could stop reading now and be good)
How do you know people are sharing? You need to know how they're finding you. Set up Google Analytics so you can see all your traffic sources.
Make sure you're tracking conversions.
Once you know people love you enough to share, it *might* be time for a referral program.
Make sure you're tracking conversions.
Once you know people love you enough to share, it *might* be time for a referral program.
Why the hesitation? These programs are expensive.
Unless you're building it yourself, you'll probably use @ViralLoopsHQ or @SparkLoopHQ
Viral loops starts at $50/month. Sparkloop starts at $30/month.
And then you still have to pay for the rewards you're giving.
Unless you're building it yourself, you'll probably use @ViralLoopsHQ or @SparkLoopHQ
Viral loops starts at $50/month. Sparkloop starts at $30/month.
And then you still have to pay for the rewards you're giving.
I have 2,000 subscribers on my list. 175 (~9%) came from my referral program. If I hadn't gotten a lifetime license of Viral Loops (s/o @AppSumo), these people would have cost almost the exact same as my Facebook ads
"But referral subscribers are more engaged!"
Are they?
"But referral subscribers are more engaged!"
Are they?
Of my 175 referrals, 20 have unsubscribed. But only 60 people have ever unsubscribed from my list.
33% of my unsubscribes came from 9% of my list!
My facebook ads subscribers are much stickier.
33% of my unsubscribes came from 9% of my list!
My facebook ads subscribers are much stickier.
My advice: get 1,000 subscribers and make sure people are sharing, then check the math before jumping into an expensive monthly software
But if you get a lifetime license deal, lock that up. Even if you don't implement it right away.
But if you get a lifetime license deal, lock that up. Even if you don't implement it right away.
If you liked this, let me know if you want a detailed breakdown of how I set up my referral program so it's 99% automated.
