Working principle of the referral program
So, in a nutshell, a referral program (also called “affiliate program”) is the way of promoting different businesses to new customers through referrals.
How does it work? As an example, you can generate your referral links of some product or service and share them across your social media.
Any user who signs up through your links will become your referral. You can see your profit grow as your network of your referrals.
So, a referral program is a type of performance-based marketing. It is one of the ways of getting people to bring new customers to the company through referrals. And existing customers are getting rewards for these referrals.
The point of affiliate marketing for partners is to earn rewards for mentioning or recommending services or products on their media channels. So they need to join one or more affiliate programs for this. Partners publish some links on their web page. When your website visitor clicks on the link and then makes a purchase or completes an action, you receive a commission. In some cases, you are paid if someone just clicks on the link.
Who is a referral partner?
A referral partner (also called “referrer”) is an Internet marketing term that refers to a business associate (company or an individual) that recommends a company and its services or products in exchange for something of value such as access to extra features, discounts and other rewards. In crypto, customers can get some tokens or other bonuses.
Referrer sends potential leads to the primary webpage via their social media resources, website, groups, email or through any other method that exists in the network. Partners are part of a referral network, which allows promoters (or primary owners of webpages) to partner with affiliates to advertise their businesses (products or services) on an affiliate-maintained website, blog or through a social network.
What is a referral reward?
Referral reward is a reward that's given to the referrer for making a successful referral. So you can easily earn money by referral links.
The referral rewards can be in different forms, such as cash, prizes, discounts, shopping vouchers, or redeemable points.
What types of the referral program exist?
There are some different types of referral programs. Let's take a look at some of them.
- Instant Rewards referral program
This type of referral program is the most popular in crypto businesses. When the customers share their link via their social channels, they get some bonuses such as increased usage limits, access to extra features, discounts or other rewards.
- Goal-based referral program
Another type of referral program. The user gets rewards for bringing some number of new users. This program often uses high-value bonuses for customers.
- Referral contests
As an example, some users who bring the most new users over a contest period will get a prize. Most often, there are large promotions with big prizes.
- Referral Giveaways
Customers get rewards randomly over a certain time period. Their chances of winning are proportional to the number of entries they earn.
Each referral marketing company and each advertiser has its own rules, so they can't all be shown here, but you can take the time and read everything before you make your choice. You can sign up with more than one referral marketing company.
Emirex referral program
Today there are numerous different referral programs in crypto. For example, there is the Emirex referral program. It is easy and profitable. Referral program includes two types of commission: Trading commission and IEO commission.
When you share your referral link with your friends, and some of them sign up and start trading or invest in EMRX tokens, you'll get a great reward. There are also 2 referral levels.
Users can start earning an investment project tokens, inviting other investors to participate, in case of IEO.
Build your investment ecosystem with Emirex:
P.S.: pay attention to the fact, that some projects will not be listed on the Emirex Exchange, which is investment with higher risks.
Invite your friends and earn money on trading commissions together! Every referral user will pay you trading commission for each transaction. Build your trading ecosystem with Emirex:
How to make money from referral programs?
Getting rewards with referral programs is all about traffic and registrations. The more users that see your website or social media pages, the more likely the referral links on your pages will be clicked. The best method to increase traffic to your website or blog is to fill it with interesting content and to renew that content as often as you can. Then you can promote your pages.
How to increase traffic?
First of all, share your content (with its link) to Facebook or other social media pages every time you publish something new. You can also gather an email list and add to it constantly. Then use this database to advertise your website or blog by sending a newsletter to bring more users to your site. Add a link to your site in your email signature.
Not many persons indeed make really big money using affiliate programs on their media. So you must work hard posting high-quality content and promoting your webpage.
Are the referral programs profitable?
Referral programs are profitable both for customers and for companies.
Of course, referral programs and contests were always a good thing to bring people around something. But look deeper into it.
Good projects that hold referral programs will bring some great bonuses and other profits to customers. And when there is a decent project that stands behind the referral program, people will most likely stay with it.