How to Create a Referral Rewards Program

If you want more referrals in your business, you need to set up a formal referral rewards program. You need a way to let people know that you accept referrals. Tell them how to give you a referral, and then reward them for every referral they give.

Tiered Referral Rewards Program

One way to set up a referral rewards program is to have it tiered into different levels. Offer a bigger reward the more referrals a person gives to you. For example: if they give you one to three referrals, they get a five dollar reward for each referral. When they send four, five or six referrals they receive a ten dollar value gift. For seven to ten referrals, you may want to give them a $15-20 gift.

Referral Rewards Program

When you are picking out gifts for your referral partners, pick something that will create a fun experience that they will use up and look forward to receiving again.  This might be a food or spa product.  It could be a gift certificate or gift card for movies, music, books, or a restaurant.

Put this information in a letter and send it out to your referral partners so they know what to expect.  That will give them a bigger incentive to work their way up that referral ladder.

Referral VIPs

Some businesses create a V.I.P. program for people who give the most referrals in a year.  You can give them some sort of special V.I.P. status if you have events. Maybe you give a V.I.P. special reward at the end of the year. You could have a holiday party that’s just for V.I.P. partners and for your clients. This gives more status and recognition to your referral partners for the referring that they do to you.

It makes people want to refer more if they know they are going to get more in return. They see that you appreciate the time they take and the trust they give to you by giving you a referral and then they will give you more.  If you want to get more referrals, implement a tiered reward system. The more referrals a person gives to you, the greater the referral gift you’ give to them.

If you want to set up a referral rewards program for your business, schedule a call with us.  We have lots of ideas on choosing the right incentives to reward your referral partners so they keep sending you more referrals. To stay organized, grab a copy of this referral tracking sheet to keep track of your referral partners.

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