Have you checked out Amazon’s refer-a-friend program? Or Teslas? There’s a reason that so many of the world’s biggest and most recognized companies are using refer-a-friend. Referral marketing helps you acquire more and better customers. Referred customers have higher LTV, higher NPS, and are more likely to become your advocates. Retailers, consumer brands, financial services companies, and B2B providers have adopted bigger and better refer-a-friend approaches.
So, today we announced the finalists for Advocacy and Customer Experience Award, the first of its kind, to recognize refer-a-friend programs that do it right. Our finalists are Casper, HotelTonight, and Uber. These three companies have programs that make sharing easy, make referral a part of their brand, and are beautifully designed – both visually and the overall customer experience.
Casper Friends, the company’s refer-a-friend program, makes it easy for customers to share with friends and family. When a referred friend purchases for the first time, they receive $50 off and the advocate receives a $50 gift card, which can be used at a variety of online retailers. The program’s structure requires two completed purchases to initiate the $100 payout. Along with organic buzz, Casper Friends helped Casper completely sell out of its inventory within just one week of launch.
This company’s referral program allows existing customers to send invite codes to friends and family. When a referred customer signs up, they receive a $25 off their first booking (of at least $135). When the referred customer completes a stay, the advocate receives $25 off their next booking (of at least $135). The program codes expire after 120 days.
The goal of the Uber referral program is to add new riders and drivers. When existing riders give their promotional code to friends without an Uber login, the referred customer receives $20 off their first ride. The existing rider receives $5 once their friend takes their first ride. When a driver gives their promotional code to a potential driver who then becomes an Uber driver, they receive a payment once the referred driver completes their first 10 trips.
All three programs check off the main components of a successful referral program so the decision from our marketing, loyalty and customer experience experts will be tough. Selection of the ACE award finalist will happen in January 2016 so keep an eye out for the winner!