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Referral programs are the biggest untapped growth opportunity for most newsletters.
There& #39;s an urban myth that referral programs are complicated, but the truth is that launching a successful referral program is easier than you think.
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There& #39;s an urban myth that referral programs are complicated, but the truth is that launching a successful referral program is easier than you think.
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A lot of people know about @MorningBrew or @TheHustle& #39;s ambassador programs and think they need to spend a lot of time and money on swag.
That& #39;s just wrong.
In this thread, I explore the rewards which truly incentivize subscribers to promote your newsletter.
That& #39;s just wrong.
In this thread, I explore the rewards which truly incentivize subscribers to promote your newsletter.
First off, your referral program should be designed to either maximize your reach, maximize your conversions or both.
Knowing what the goal is for your referral program will help you choose the right incentive.
Knowing what the goal is for your referral program will help you choose the right incentive.
If your newsletter uses a traditional form of direct audience monetization (e.g., sponsorships), then your goal should be to get as many subscribers as possible.
Here some ideas:
- Access to a “secret,” exclusive newsletter containing bonus content
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Here some ideas:
- Access to a “secret,” exclusive newsletter containing bonus content
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- Access to special webinars or presentations with need-to-know insights
- Access to members-only Slack or Facebook groups
- A signed copy of a book
- Giveaways with prizes provided by sponsors for a quick, cost-effective incentive
- Access to members-only Slack or Facebook groups
- A signed copy of a book
- Giveaways with prizes provided by sponsors for a quick, cost-effective incentive
Examples:
Author @JamesClear offers ambassadors making at least three referrals access to a private newsletter.
Author @davidasinclair (author of "Lifespan") gives ambassadors access to his private Facebook group and a signed edition of his book.
Author @JamesClear offers ambassadors making at least three referrals access to a private newsletter.
Author @davidasinclair (author of "Lifespan") gives ambassadors access to his private Facebook group and a signed edition of his book.
If your newsletter is designed to educate and upsell your audience on a product or service, you can try the following rewards:
- Access to gated content, such as videos, pdfs, eBooks, or podcasts
- Access to a webinar, roundtable discussion, or presentation
(continue...)
- Access to gated content, such as videos, pdfs, eBooks, or podcasts
- Access to a webinar, roundtable discussion, or presentation
(continue...)
- A free or discounted consultation with you or a member of your team
- A small coupon to spend on a service you sell
- A small coupon to spend on a service you sell
Examples:
Trading expert @Rayner_Teo combines freebies with insider knowledge by offering access to members-only roundtables and an eBook worth $29.
@coreyhainesco gives ambassadors 50% off his annual plan in exchange for referrals.
Trading expert @Rayner_Teo combines freebies with insider knowledge by offering access to members-only roundtables and an eBook worth $29.
@coreyhainesco gives ambassadors 50% off his annual plan in exchange for referrals.
If you have a paid newsletter (or free newsletter with optional membership option), consider these ideas:
- Discounts on membership
- Free access for a month, a year, or a lifetime
- Access to members-only events or groups
- Discounts on membership
- Free access for a month, a year, or a lifetime
- Access to members-only events or groups
Example:
Andrew Kamphey provides ambassadors with free paid membership for one month.
Andrew Kamphey provides ambassadors with free paid membership for one month.
If you& #39;re a course creator, a referral program is a great way to acquire new customers with little effort.
Here some ideas:
- Discounts on current or future courses
- Free access to a course for a limited period or a lifetime
(continue...)
Here some ideas:
- Discounts on current or future courses
- Free access to a course for a limited period or a lifetime
(continue...)
- Access to a members-only group on Slack or Facebook, to take education further and network with like-minded people
- Free preview lessons to give readers a closer look at other content or courses
- One-to-one sessions with a teacher
- Free preview lessons to give readers a closer look at other content or courses
- One-to-one sessions with a teacher
Example:
@louisnicholls_ incentivizes referrals with his “Sales for Founders” course, offering a $100 coupon code with access to an exclusive webinar video.
@louisnicholls_ incentivizes referrals with his “Sales for Founders” course, offering a $100 coupon code with access to an exclusive webinar video.
This list is not exhaustive list but hopefully will get your juices flowing...
You can read the entire article herehttps://abs.twimg.com/emoji/v2/... draggable="false" alt="👉" title="Right pointing backhand index" aria-label="Emoji: Right pointing backhand index"> https://www.campaignmonitor.com/blog/email-marketing/2020/05/turn-your-newsletter-into-a-supercharged-growth-machine-with-these-19-referral-program-reward-ideas/">https://www.campaignmonitor.com/blog/emai...
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