For many of us doing business online got significantly easier with the advent of Stripe as a payment processor. Stripe and its suite of tools around running online commerce makes it oh so easy for businesses to begin accepting payments online.
And now for those businesses who run their payment processing through Stripe creating a referral program that is triggered on new (or recurring) charges through Stripe just got a lot easier. SalesCamp is pleased to announce its referral marketing Stripe Integration.
The SalesCamp Stripe integration gives you a one-click way of connecting activity in your Stripe account to your SalesCamp referral campaigns.
How It Works
In SalesCamp you’ve always had the option to create referral programs with different Goals (these end objectives that we would like newly referred visitors to our sites to achieve), and now a New Paying Customer is one of those predefined options.
For many businesses this is the ultimate ‘endpoint’ of a referral program – new paying customers in our businesses. And we feel that our brand champions and referrers should be rewarded only when there are new paying customers in our business. That’s where the Stripe integration makes these programs so easy to set up, and to run on an ongoing basis.
In order to set up a campaign with a goal of a New Paying Customer you must first connect your Stripe account to SalesCamp via our one-click integration.
<< Click here to check out our complete step-by-step walkthrough of how to complete your Stripe integration >>
Once this is complete you will have the option of enabling the New Paying Customer goal for a campaign and can configure either the one-time or recurring rewards to your referrers.
As always in SalesCamp we give you a few different options for rewarding your referrers:
- Cash
- Gift cards
- Custom rewards that you can fulfill either manually or via our API.
The SalesCamp Stripe integration is set up out of the box to look for BOTH one-time and subscription/recurring charge events in your account only for those customers who were referred to your business through a SalesCamp referral link. So there is literally zero work you need to do in order to track the creation of rewards on an ongoing basis for these referred customers.
Because many of our customers run subscription businesses and SaaS tools we’ve also built in the option to give Ongoing Rewards. These are rewards that are given each time a referred customer is charged. A popular scenario here would be that you might give a referrer 20% commission for the life of a customer they refer over.
Might seem like a lot on the surface, but think about what your average Customer Acquisition Cost (CAC) is. The total cost of your sales and marketing to bring a new paying customer into your business. Is that amount higher than 20% of your Average Revenue Per User (ARPU)? If so then this kind of referral program would be a huge win for you in lowering that CAC.
Ok, enough acronym soup, the important thing to remember here is that with our new Stripe integration you can directly tie in revenue generating events in your business from those customers who are referred in via your referral campaigns.
As far as we know this may be the only 100% verifiable and attributable marketing channel out there. In almost every scenario we’ve seen this is a hugely positive ROI.
Click here to check out step-by-step instructions about how to set up your Referral Marketing Stripe integration inside your SalesCamp dashboard.
Our tech team is actively building out more integrations to give your referral campaigns easier to implement and to have more direct impact on your business, and we’d love to hear your input on what you’d like to see. Drop us a line at hello@salescamp.io or add a comment in below this post and let us know what types of integrations you’re looking for your referral campaigns.