Word of mouth is one of the most effective forms of marketing. In fact, 92% of consumers say that they trust referrals from their friends and colleagues, and 74% say that word of mouth is key to their purchasing decisions. Referred prospects also convert 30% better than leads generated through other marketing channels, and have a 16% higher customer lifetime value.
You know the word-of-mouth advertising, but a customer by himself is not going to tell others about your product and become your brand ambassador. With some strategy, you can encourage customers to spread the word and turn this idea into a successful referral program that includes real-time results, analytics, a dashboard, and customer ranking.
You can create referral programs for your ICO’s that can track your brand advocates or customers, give incentives to happy customers to promote your blockchain concept and increase both customer acquisition and retention. And for this, InviteReferrals provides a better platform to create and manage your ico referral program.
Benefits of Referral Program in ICO’s
Why use ico referral program? marketing and What’s so great about referrals? why not focus on leads that come from paid ads like google ads or facebook ads? Due to the increase in cases of fake ICOs, Google, Facebook and Twitter already announced blocking all the ICO’s ads on their platform. And now for your ICOs, a better source of lead generation is left which is a referral program.
The referral program will work as a lead generator for your ICO’s, in which people are being rewarded for finding leads for you. And not just lead, a high-quality lead which is more likely to convert and more loyal to your blockchain product.
A referral program gets your potential customers to trust your product as it has been referred by a friend or a colleague. A referral program creates more acceptability of your product among users.
How to Integrate a Referral Program for your ICO’s
We already know that a referral program is a great way to find a high-quality lead. And now we will see how to integrate this referral program into your ICO’s.
Decide Your Offer
In referral marketing, you will get more leads if you offer better incentives. Find the best offer you can give to your customer in return for high-quality leads. Run a contest or just simply announce to give a flat payment. For example, Howdoo implemented a referral program in which they offer 10 tokens to each user who refers their friend to join their telegram channel and when friends join the telegram channel they also get 2 uDoo tokens.
Choose the platform for sharing
As you know, Referral marketing is also known as word-of-mouth marketing, but in the era of the internet, you need a platform through which your customer can share their view about your product with their family, friends, and colleagues. For this, you can use the Invitereferrals platform. Invitereferrals will give your customers a wide range of sharing options on a single platform to share their views like telegram, facebook, twitter, WhatsApp and many more.
The first user has to login to the login screen. This step is known as the enrollment process. You can customize this step, for example, you ask for any detail of users like their mobile number, email, name, address or any other valuable information you need. Like howdoo ask customers for their ethereal address on which they send the reward to customers.
Now the second step is where a customer will share about your ICO via online social media channels like the telegram, twitter, facebook.
2 Examples of ICO Referral Program.
Howdoo, which is a social network based on blockchain implemented the InviteReferrals referral program for their ICO’s. In which they offer
- 10 uDoo (worth $1.00) token whenever user signup for a referral program.
- 5 Udoo token for every friend who accepts user invites to their Telegram Channel.
- Every day they randomly selected 1 telegram member who positively contributed to that day’s conversation and awarded 500 udoo (worth $500.00) tokens.
You can read more about this program here
Etheera Switzerland which is a real estate solutions based on the blockchain, implemented the InviteReferrals referral program in which they offer 5% of the commission to users from all his registered referrals which participate in Etheera’s Token Sale
The fastest and easiest way to start your referral program