Genius Referrals
 

Knowing Genius Referrals: Referral Rewards System Of Your Choice!

Customer recommendation marketing or referral marketing is one of the most powerful tools today.

Empowering customers, rewarding referrals, reinforcing brand loyalty, and increasing income through positive referrals, are the characteristics that define this current marketing typology.

Through these strategies, rapid growth and an increase in the user base are generated in a short period.

For example, the global travel website, Airbnb, grew from 20k users in 2009 to 20 million registered on its platform in 2016 through a referral program with rewards of $25 for each invited user.

What rewards does a referral program offer?

Rewards are an essential part of a referral program if we want to ensure the strategy's success.

But we must study the type of incentive that we can offer our clients to obtain their promotion and loyalty.

Let's remember that a reward is an additional value proposition for the customer, which will differentiate us from the competition.

A rewards program is part of referral marketing customer retention strategies and pursues consumer loyalty.

If we manage to diversify and enrich the customer experience to retain it, we can build a value chain.

Specialists always recommend offering as rewards:

  • Rewards that are directly or indirectly linked to the objectives and goals of the business. That is, we should pay with our products or services instead of rewarding someone with a gift card for another application or business.

  • Rewards that respond to our objectives and business model. Grant the Referrals, distinctive elements of the brand.

  • Rewards in the form of free products or services. They will allow you to grow your customer base while existing users add those same items to their accounts.

  • Rewards that promote the company offers. It helps to increase the loyal customer base and makes the customers feel like they are part of a community while promoting the products or services.

  • Rewards with Internal Currency. A significantly profitable way to reward referrals without losing money from your earnings.

  • Rewards with exclusive content. It does not have to be an expensive way, but a creative and original way to present products.
What are the benefits of offering rewards to referrals?
A rewards program is an ideal strategy to increase your customer base in a short time, since it consists of granting unexpected rewards quickly, easily, and safely.

In this way, the existing audience is loyal while the base of subscribers to the brand grows.

Other advantages that this current marketing trend gives us are:

  • Process customer data to establish sales increase strategies
  • Learn about consumer trends in our market niche
  • Attract more and more customers to our pages
  • Reactivate those inactive clients who had resigned themselves to the usual and everyday
  • Increase sales thanks to the increase in the customer base
  • Emotional connection with each client and referral, strengthen the company-client bond
  • Greater growth opportunities. We can redirect marketing strategies from the analysis of customer data
  • Competitive advantages. As we explained, a rewards program can make a difference from the competition. The loyalty of a customer can decisively influence their purchase
Genius Advocate Portal, a Rewards program of your choice
Genius Advocate Portal, the classic Genius Referrals template, is fundamentally intended to facilitate the management of Affiliates and Influencers, empowering clients and putting at their fingertips all the statistics they require to monitor their actions in real-time.

“Empower promoters” is the central objective of the Genius Referrals Referral Program, giving you total control of the processes.

Genius Advocate Portal provides the promoter, through constant statistics, complete knowledge of his strategy. Thus, you can choose the most feasible channel to share content and get referrals.

In the Payment section of the Advocate Portal, Genius offers to promoters reclaim the accumulated bonuses and choose between 6 payment methods proposed by the template:

1. Gift Card

A Gift Card consists of a voucher to buy in certain establishments. It is a means of payment with a specific amount of money to access items in virtual stores.

They are a reliable and secure way of payment that prevent refunds and fraud. They offer fast transactions, with immediate benefits for customers.

For businesses and brands, Gift Cards generate revenue in any season, differentiate from the competition, and provide purchase data that can be processed and analyzed for market trends.

2. Paypal payment

Paypal is a payment platform that, unlike banks and branches, makes the shipment instantly, without sharing financial information with the recipient. In addition, it allows currency exchange, converting one currency into another with ease.

It is very easy to open an account on the platform and the way to send and receive payments is also extremely feasible.

3. Credits

A product or an amount of money is made available to the promoter for a set period, during which he can make use of it.

It is a system that generates trust and seeks customer loyalty and is free since they do not have hidden commissions.

4. Voucher

The discount coupon or Voucher allows the recipient to save a certain amount of money, buy products that they may not be able to buy at a normal price, buy more for less money, and find out about new offers.

5. Shopify Code

The QR codes generated by Shopify act as a physical or online shopping button for the customer.

In other words, through these elements, we can make purchases in various establishments.

6. Products

Through this payment method, the recipient can choose the product they wish to purchase in the payment gateway of a virtual store.

It is an effective channel to benefit the consumer, who can buy more easily.
POSTED ON APRIL 19, 2022
BY: ELIZABETH ALMEIDA