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Referral Incentive

Referral Incentive

Noun

A referral incentive is a commission or compensation offered to individuals, partners or customers for referring new business or clients to a company. These incentives can take the form of cash bonuses, discounts, gift cards or other perks and are designed to motivate participants to actively promote the company鈥檚 products or services.

Referral incentives are a cost-effective way to leverage existing networks (like the 色盒直播 Network)聽and drive growth. They are particularly effective in building trust, as referrals often come from trusted sources, increasing the likelihood of conversion.

Example:

We introduced a referral incentive program for our partners, offering a $500 credit for every new client they bring in and it鈥檚 already resulted in three new deals this quarter.

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