[June 2024] 🤠 Our best referral content this month [+ next webinar]

Hi there,

We get a lot of questions on how to run successful referral programs.

• What rewards should I offer?

• How do I improve my program’s performance?

• How can I get more people to share and engage?

• Where do I start?

To answer these questions, we hosted a webinar on reward design covering top mistakes and how to avoid them. We analyzed benchmark data from our platform and shared the 2 most important metrics for predicting if a referral program will work and how to analyze your program’s performance.

We also sent a survey in last month’s roundup asking “what topics should we cover next.” We received 100s of responses. Here are the top requests:

• Promotion and Member Engagement (46%)

• Integrations (25%)

• Messaging/Design (18%)

This resulted in creating new best practice content on Promotion Strategies and Messaging and Brand Assets and hosting an Integrations Webinar on July 24th at 1pm EST (see poll to help us refine what questions you want answered).

These are the highlights but don’t miss the rest of the updates below.

-Mica
Head of Operations

👀 Content Updates

[Benchmarks] 2 most important referral metrics (insight post): Detailed explanation of the 2 leading indicators (share and reach) for predicting referral program success and explains how to analyze referral programs. Includes benchmark data from the first ½ of 2024.

Messaging and Brand Assets (support article): Tips and best practices for creating your program copy and images. Includes share message, referral page, and member portal.

Promotion Best Practices (support article): Explanation on how to think about promotion and tips for building a comprehensive program and engagement strategy.

Customer Referral Reward Design 101 (Dos and Don’ts) (webinar): 30-minute webinar on how to design rewards for customer referral programs: 5 most common mistakes, how to avoid them, and a framework for building your reward structures.

✨ Product Updates

The majority of our time in June was spent working on Phase 2 of the admin redesign. In May, we updated the admin interface with a modern navigation menu, new quick action button, and style improvements.

In this next phase, we’ll add new:

• Home Page - Find and access what you need, see news and updates, and it’s easier to do work within your program

• Analytics Dashboard - Track key referral indicators, monitor performance over time, and compare programs

• Shortcuts - new navigation item to easily pick up where you left off and ping your most used pages

Did you know?

You can track detailed Member and Referral behavior and engagement data. This is great for getting a granular understanding of your program and seeing where you can make improvements.

⏮ And in case you missed it…

Here are some more recent posts from our team that you may have missed!