There are a lot of referral programs nowadays and here we will look at some of the more popular ones and see what they do. And hopefully, learn something and become a more informed customer or referrer. But before we can look at the top 5 referral programs in 2022 let’s quickly talk about what these programs are in the first place.
What Are Referral Programs?
Not to kick the figurative dead horse but we have talked about this a bunch. If you are a regular reader of our blogs then you may have seen this more than a few times. The goal is not to bore you to death so let’s just rip the bandage off so we can get to the fun stuff. A referral program is simply a program meant to motivate current customers or clients to refer you to others. In hopes to grow the business. This is normally done through incentives like, “Invite your friends and get a 20$ visa gift card” or something similar. They all are based on this same idea. Also, this is the most sought-after channel of business by many organizations and agents alike. Matter of fact according to Forbes, “60% of marketers say that referral programs generate a high volume of leads.”
This means the value of chasing after leads have so much value if you are not trying to find a referral program. Or maybe make your own, you are missing out on a great opportunity. We even outline some steps of how to build your own referral program.
But do not fear! That’s why you are here, to learn more about them and be better informed to maybe find the best one to tap into. But now that you know what referral programs are, let’s look at some of the current ones in 2022!
Dropbox is a rather large software service that provides cloud-based storage and sharing for all types of files and data. A basic free account gives you 2GB of space and this is where their referral program comes into play. For each person that you invite an extra 500 MB of space is added to a 16 GB maximum. For paid accounts, this is even better with 1 GB added for each for a maximum of 32 GB. So overall like the other referral programs here, it is in the best interest of the user to take part in referring. Not only do users get more space, but the company also gets more active users or even subscriptions.
2. World Of Warcraft’s “Recruit A Friend”
While this is slightly different from the rest on this list. Blizzard’s World Of Warcraft has a very popular referral program. This also shows that referral programs exist in all kinds of businesses, not just services like the others listed here. It’s good to see all kinds of programs to get the best understanding of how they work.
Though under a different name, “recruit”, it functions the same exact way as any other referral program. Here already well-established players are encouraged to invite new players into the game. And for doing so over the course of a year both players will receive rewards in-game. Players will also receive 30 days of game time, and since WoW is a pay-to-play game, a month of game access is 14.99$. Throughout this program, players gain 60 days of game time which is equivalent to 90$. This combined with the other cool things you get in-game, this program is highly rewarding for the player and for the company. More people playing means eventually more subscriptions and more revenue.
Up next is Airbnb’s new referral program which has made some waves and has made the company some great money. How their program works like many others, you simply refer a friend to the site with a special link, and when they sign up using the link they get a credit of up to 45$ on their first stay. And the magic comes in the stats in which according to cloudsponge, “Overall, referrals increased bookings by over 25% in some markets. The new 2.0 version of the referral program produced 300% more bookings and signups than before.” Again, as you can see these programs boost company profit and exposure quite a lot.
Uber’s program is nice and simple which brings up a good point about referral programs. The easier they are for people to use, the more likely the program will be successful. With Uber, once you sign up you get a code that when you send to friends, and if they join using that code. You both get a free trip, now how much simpler can it get? It is a pure foolproof referral program. You join for free and you both get a free trip.
Any company that wishes to stay relevant and competitive sees the use and power that referrals hold. And they also tap into the power that refer-a-friend programs have and most of them make programs tailored to their industry. Uber gives one free ride, Airbnb builds credit for stays, Dropbox gives you more cloud storage space, and NuOp pays you for bringing more Members on board! Also, hopefully, some light was shined on why companies go through this process, and now you are a better-informed referrer.
Finally, make sure you sign up for NuOp today! It’s free and you get access to the Invite & Earn program as well as a growing list of powerful tools to supercharge your professional referring career.