Here at SalesCamp we’re all about designing a platform to let you create the referral and affiliate programs that your business needs, easily and seamlessly. This means a lot of things when it comes to our platform…things like our Stripe integration, referrer transparency via Referrer Dashboards, and multiple ways to trigger rewards in your campaigns.
And today we’re excited to announce another addition to your referral campaign arsenal: Dual Sided Rewards.
To give a bit of background and terminology there are a few different types of rewards that you can create in a referral or affiliate program:
- Single Rewards
- Double Rewards
- Dual Sided Rewards
SalesCamp has always had in place Single Sided Rewards, where only the Referrer is awarded something for sending a new lead or customer to your business. But now you can create Dual Sided Rewards within your SalesCamp account.
An example of a Dual Sided Reward could be something like the following:
- Refer a friend and each of you get $50
- Refer a friend, and they get their first month free, you get 20% of their monthly subscription price
- Refer a friend, and you both get a month free on your SaaS subscription
That’s right, you can create not only basic Dual Sided Rewards, where both the Referrer and the Referral are rewarded in the same ‘currency’ or payment structure. You can also create unique Referrer and Referral Rewards, each matching up with one of the Golden Rules of referral marketing:
Create a reward in the currency of the person receiving it
So while an external affiliate might want to be paid in cold, hard cash, that might not be the best fit for your new customer who also is to be rewarded. For them, it might be a free month of your service or unlocking a new feature or even something like a discount off of their monthly bill.
There’s no doubt that Dual Sided Rewards are the best performing type of referral program. And the reason should be clear: Everyone Wins
Both the Referrer (person sending new leads and customers your way) wins because they get rewarded, and the new lead/customer gets rewarded too because they came into your business via a referral campaign from a highly trusted source.
Creating a Dual Sided Reward
Inside your SalesCamp dashboard we’ve made creating a dual sided reward super simple. Here’s a screenshot from one of our campaigns where we’re set to give the same amount to both Referrer and Referral, but of course you’re welcome to customize this to fit your business objectives and customer needs.
Your Experience with Dual Sided Rewards
We’d love to hear how your new Dual Sided Rewards are performing. And in fact we’re collecting a few Case Studies to show the performance difference between Single and Dual Sided rewards. If you’re interested in sharing your experiences please drop a comment below this post, or send us an email at firstname.lastname@example.org and tell us all about it. We’ll be compiling these experiences into an upcoming blog post and white paper on referral program performance.