Brands supporting brands. Referrals coming and going. Everyone’s happy, thriving, and making a positive impact in the world doing what they are passionate about.
In today’s article, we’ll go deeper into how we are supercharging businesses and brands with referrals through our Lifetime Brand Rewards program, using this potent tool to increase your brand’s profits with almost no effort, using the good ol’ word of mouth to reach a higher audience and cash in from it.
What is a referral program?
Let’s start with the basics.
According to Hubspot, a referral program is a word-of-mouth sales technique that involves encouraging customers, friends, or even family members to become an advocate on behalf of your brand.
Instead of just writing online reviews, for example, a referral program enables existing customers or fans to share their positive brand experience with others.
Powerful, isn’t it?
Now, Shopify says something quite similar about referral programs: It’s a system that incentivizes previous customers to recommend your products to their family and friends. A supercharged word-of-mouth strategy to basically promote service to people you already know and trust.
Referral programs bring together the possibility of getting an immediate reward (or commission), supporting your brand’s growth, and driving your audience or close ones closer to a service you trust.
So, in a nutshell, referral programs are a significant growth strategy to reach an immediate reward for spreading the word about a particular product, service, or brand.
This allows the referred brand to track where the new users came from and tune their strategy to get more customers. The beauty of social reach.
The importance of referring
Forbes gives a solid reason why referrals are HUGE. Referral sales require little to no financial investment, which is especially important for brands who want to make the most out of their budgets.
They bring in incredibly valuable, warm leads, all while making those leads easier to close and transform into clients.
This is precisely why a referral-based marketing strategy is so important: It’s evergreen. Doesn’t go out of fashion. Provides easy-to-track KPIs. And, above everything else, it’s cost-effective.
Now, taking Social Media Today’s take on this subject, here are some interesting stats for brands who are thinking about referral programs as part of their growth journey:
- Referral programs provide a higher lead quality. 78% of B2B marketers say that referral programs generate good or excellent leads.
- More leads equal more sales opportunities. 60% of marketers say that referral programs generate a high volume of information.
- Leads are way more affordable. 54% say that referral programs have a lower cost-per-lead than other channels.
Simply put, this growth channel enables brands to increase their revenue in a heartbeat.
And (spoiler alert!) that’s something we’ve been doing for a while at Curastory, and we’ll break it down so you can start making the most out of it.
How does the Curastory Brand Rewards Program work?
Our rewards program has been a significant success for our brand partners. It has allowed them to receive a 5% commission on all net video campaign monetization from brands they refer… forever.
But that’s not it.
Those new brands you refer to Curastory also get an immediate reward for joining our brand partners community: They get 0 campaign fees for their first month as an official member of the Curastory crew as our thank you.
Yep. No campaign fees. No BS. Just earnings for our beloved brand partners. And that’s as easy as it gets.
As a referee, you need to sign up on our Curastory Brand Rewards page. And from there, share your unique rewards link with your referrals and have them sign up for Curastory, and there you go – voilà!
We also use Rewardful to create your rewards link and track your affiliate sign-ups from it. Just be sure to issue your affiliate link for easier tracking to not miss that 5% lifetime monetary commission from their advertising campaigns as our forever thank you.
P.S. This is limited to active Curastory Brand Partners (hopefully like yourself, running campaigns every month into Curastory)
P.S.S. Referral payouts are at the end of each quarter, using Stripe.
Curious about our Rewardful rewards tracking? Here’s a quick breakdown
Rewardful is a great way to start a referral program in just a few minutes.
Easy set up, friendly interphase, and does the work for you, basically.
In essence, Rewardful allows businesses and individuals (in our particular case, content creators, like you) to enhance their growth strategy with simplified and built-for-you referral and affiliate programs tools, allowing you to track and promote your business without any heavy lifting.
Taking Rewardful’s explanation on this matter, their referral ecosystem takes three simple steps to get up and running:
- First, connect your Stripe account to the platform.
- Then, configure your campaign following the steps provided by the platform.
- Finally, integrate Rewardful into your website for easier tracking.
Once this effortless setup process is completed, your affiliates will be able to join your program through a unique link. This is exactly what allows Rewardful to track where your affiliates came from. After that, every purchase or invoice paid by that referred affiliate will generate a commission.
Besides, through Curastory’s referral program, you can issue your affiliate link for easy tracking and get that 5% cash commission your way faster than just saying it.
Curious? Go check their page and say hi from Curastory (no rewards needed).
In Curastory’s case, it’s an immediate discount for the first month of the referred brand. As much as 0 campaign fees. As for you, the one who refers, you get a 5% lifetime commission on the referred brand’s monetization for as long as they are active. Huge, massive win.
In a nutshell, referrals are still a hit, and it could be so for you too.
Before saying goodbye, we want to re-extend the invitation for you, beloved reader, to join Curastory’s Referral Program and invite fellow brands to get immediate rewards and benefits for just showing up.
It only takes a few seconds to fill and pays off incredibly quickly.
As a quick reminder, your referrals only need to go to https://rewards.curastory.co/signup?campaign=brand-partners, have them include your brand’s information in the referral box, and that’s it.
And, as always, reach out to us if you have any questions about how this program works and how to use it best.
Until next time,
– The Curastory Team