EarlyParrot supports both Marketing Referral Program and Sales Referral Program.
What is a Marketing Referral Program?
A Marketing Referral Program will track your funnel for new referred leads. The end goal of your referral program is to get you more leads at the top of the funnel. Rewards are sent out when a referrer refers new leads. This is the simplest referral program you can have, as the referral cycle is very short and referrers get to see the results of their recommendation quite quickly.
Marketing referral programs are commonly used in conjunction with:
- online events
- virtual summits
- webinars
- online workshops
- masterminds
- email list building
- lead magnets
that provide free access in exchange for an email. Referrers are enticed to refer other leads in exchange for a reward.
What is a Sales Referral Program?
If your referral marketing campaign’s end goal is to get more customers, then a Sales Referral Program is for you. A Sales Referral Program enables you to reward referrers only after they refer a paid customer. The referral cycle is longer but this kind of referral program is necessary in certain businesses cases. Some business cases where sales referral programs are frequently used:
- e-commerce,
- SaaS,
- membership websites,
- course selling
- paid online events, webinars or workshops.
Set up your Marketing Referral Program and Sales Referral Program in EarlyParrot
In the Goal step in your EarlyParrot campaign wizard, you can choose whether to have a Marketing Referral Program or Sales Referral Program.
Check this KB on how to set up the goal of your referral program