Referrals are an absolute must for any successful business. Whether you are selling yourself, a product or an idea, building connections with like-minded individuals is the only way to get anywhere.
And why wouldn’t it be? After all, people are what you need to launch your success to new heights. So how can you establish a successful referral program on Indiegogo that will get not only the desired web traffic, but also the contributions you need to hit your project’s goal?
Sharing is Caring
You love your project-why shouldn’t others? Too often people fall into the “Field of Dreams” mentality where they think they can simply throw their idea out there and people will be drawn to it. But it’s not quite that simple. Yes, you have to share your passion project with others to bring the idea to new heights, but sharing and picking up referrals is more than just numbers. Those are actual people on the other end. That’s why you should focus your outreach, rather than just shotgun-blasting a spam message across the web. You do not want to waste time on frivolous digging; instead, you want to connect to people who are likely to have a genuine interest in what you are offering and who know people with similar interests. But with so many other ideas out there, what can you do to grab some attention?
Out-of-the-Box Thinking
Sites like Indiegogo focus their analytics heavily on referrals and the ability to track them. They encourage campaigners to boost funding with referral programs, which give contributors a little extra incentive to spread the word about projects.
By rewarding contributors for bringing in referrals, you ensure that you are not the only one out there sharing your project with other people. And there are plenty of ways to design referral programs.
One company ran a number of contests that focused solely on getting the attention of bloggers and other media outlets. Other campaigns offer prizes when a certain amount of money is backed through referrals. Other incentives include discounts, perks and add-ons for people that bring you referrals.
According to the data, referral programs tend to have the most success when they are launched a month into the campaign or when 60 percent of the total funding goal has been achieved. By timing your contest this way, you already have a contributor base that is ready to be activated and engaged and can help give your campaign the final boost that puts it over the top. But make sure you offer the right incentives to your contributors. Understand the needs and wants of your backers, and your referral program will find the success it needs to be a benefit to your project.
Looking for more assistance? We have helped countless entrepreneurs in their endeavors, and we have the experience needed to make your referral program a success. Subscribe to our newsletter for all the latest info and interviews, and get what you need to take your project to the next level.
