How to establish right incentives for referrals?
Believe it or not this is the hardest thing you ever have to do with NextBee. You need to see how much a new customer or sign up is worth. For every person on your newsletter list, how much do you make in a year? It would be worth to give away at least twenty five percent of that amount just for a newsletter sign up.
If you are running a coupons rewards program, then you should be willing to give away enough of that sale to just barely make a profit. Chances are very good that this new customer will come back and shop your store again. This customer never would have come in the first place if they had not been referred. This is the best advertising your money can buy and you should invest in it as such.
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