How to incentivize my current customers to refer new customers?
I recently began working for a retailer for a large wireless provider. My position is 100% commission. I would like to provide an incentive for customers that have purchased from me to refer family and friends back to me. I was thinking of a few ideas, but I wanted to bounce these off of this community since you're probably a lot more experienced in this area than I am. 
The referral will be earned if my customer refers someone to me and the person they refer activates new service or upgrades their existing phone.
My initial thought was a gift card to my business. I was thinking $5 or $10. The gift card could be used to make purchases in the store, such as accessories, etc. Also, if they rack up enough referrals, they would have a collection of gift cards to use. I did bounce this idea off an associate and he thought it was a good idea because "...people like something tangible..." The downside to a gift card is that this doesn't require them to do business with me. They can use the gift card with anyone at the store. Also, a gift card to allow purchases of accessories, etc. from my store may not really be a big thing because most people would buy their accessories (phone case, chargers, etc.) when they purchase the phone.
Pay a portion of their phone bill. Maybe $5 or $10 per referral.
Instead of a gift card to my business, I could give a gift card to a local business. I'm in a small town and we do have a few chain businesses, but we also have a few "Mom & Pop" businesses. I was thinking of a local coffee shop. I know the owners and have a good relationship with them, but me giving gift cards to their business will be benefiting their business and not mine.
With all of the above, I was also thinking of limiting it to a certain period, such as ".... maximum of x gift cards per y days..." (30, 60, 90, 180, or something like that).
I am open to your feedback.
Thank you.
The referral will be earned if my customer refers someone to me and the person they refer activates new service or upgrades their existing phone.
My initial thought was a gift card to my business. I was thinking $5 or $10. The gift card could be used to make purchases in the store, such as accessories, etc. Also, if they rack up enough referrals, they would have a collection of gift cards to use. I did bounce this idea off an associate and he thought it was a good idea because "...people like something tangible..." The downside to a gift card is that this doesn't require them to do business with me. They can use the gift card with anyone at the store. Also, a gift card to allow purchases of accessories, etc. from my store may not really be a big thing because most people would buy their accessories (phone case, chargers, etc.) when they purchase the phone.
Pay a portion of their phone bill. Maybe $5 or $10 per referral.
Instead of a gift card to my business, I could give a gift card to a local business. I'm in a small town and we do have a few chain businesses, but we also have a few "Mom & Pop" businesses. I was thinking of a local coffee shop. I know the owners and have a good relationship with them, but me giving gift cards to their business will be benefiting their business and not mine.
With all of the above, I was also thinking of limiting it to a certain period, such as ".... maximum of x gift cards per y days..." (30, 60, 90, 180, or something like that).
I am open to your feedback.
Thank you.
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