By popular demand, we have introduced a refer-a-friend tool. It's version 1, but will instantly help you grow your business. This tool allows your customers to easily invite their friends and both get rewarded for it! This can be a super effective way to reduce your marketing costs. The power of word of mouth marketing is a wonderful thing.
First some definitions!
Referrer = the person who invites their friend to be a new customer to your store.
Referee = the friend who is referred by the referrer and is the new customer to your store.
How does it work?
- You as the merchant need to enable it and set the rewards (both for the referrer and the referee).
- Your customer can get their unique link from their login area, or at the end of their checkout and shares it with their friends.
- If their friend clicks the link and goes through the checkout and purchases from your store then both the referrer and referee will be given a cash reward (based on your settings in the admin). This cash reward balance will be deducted from future payments.
How much does it cost?
There is an additional percentage transaction fee the first one-time product purchase or subscription purchase for the new referred customer (referee). If it's a subscription then the additional percentage transaction fee will apply for all payments during the active subscription term.
The additional percentage transaction fee amounts are as follows:
- Launch: 5%
- Grow: 3%
- Scale: 1%
All older plans or other non-standard plans will default to 5%.
This fee is to cover the cost for maintenance and development of our product and this feature and it's future improvements. It should still work out more affordable than using a third party referral tool. But let us know if it doesn't!