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Starting in 2012, I'm going to bribe my customers

by mrcouchpotato
5 replies
Ok. Maybe bribe is too harsh of a word. Let's call it paying for referrals.

But I'm wondering what type of payment would be best. The particular service I'm going to do this for (to start) is my SMS service. I have two different thoughts in mind but not sure which would have the most impact and results for my business.

One would cost me more than the other.

Here's the cheapest of the two for me. Giving 100 free texts to any current customer who sends me a lead that turns into a new customer. A text costs me 2.5 cents each so my would only cost me $2.50. The value to my customer, however, would be around $10.00

The second costs me more (but may have a higher perceived value) would be a $25 gift card to a restaurant like Outback or TGI Fridays.

Which do you think would make me look better and get me more referrals?

Thanks.

Mike
#2012 #bride #customers #starting
  • Profile picture of the author ClarkKent
    It's calling having an affiliate referral scheme.
    A lot of businesses, especially in our market, have them.
    Not immoral at all.

    I give customers up to $200 off in services, or sometimes even a gift that's around that amount.

    Remember though that to get that they gave me either a client that's spending $1200+, more than $500 a month, or they've referred multiple new clients to me.

    Leads are hard to come by. And qualified ones from other businesses that have customers and partners are GOLDEN.
    Don't take them for granted
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  • Profile picture of the author xlfutur1
    Personally, I would go for the $25 gift card. When you figure the potential lifetime value of a new customer, 25 bucks is a drop in the bucket.
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  • Profile picture of the author LeeMark
    I think this is not the right way to do business. Should ignore all these things.
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    • Profile picture of the author krzysiek
      Originally Posted by LeeMark View Post

      I think this is not the right way to do business. Should ignore all these things.
      Sorry, you're wrong.
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