Last week I implemented a referral program utilizing ReferralHero's new newsletter referral program.
Manuel was super nice and walked me through setup and connecting the digital pipes, roughly 1 hour call.
It was ultimately up to me to implement the messaging and set up automated emails as ppl went through the referral stages.
I spent roughly half a day creating a series of emails. 1 was for people I thought would be able to refer the most ppl, these are CEOs who want their employees to also get the info I send each week in a free email. This behavior already happens, my theory is that a formal referral program would help push those on the fence to talk about the newsletter, and even those who do, to push them to talk more and implore their employees to get smarter by subscrbing.
First goal is 3 referrals and they get in a private weekly email.
But worth way more, at 25 Referrals a company gets a shoutout in the newsletter. This is at least a $58 value.
End of last week, I sent about 20 emails to top ppl.
Also sent in last weeks normal newsletter each persons unique referral code. This went to 3,354 ppl. Just under 1k opens so far. Referral hero makes it easy to implement with mailchimp's merge tags.
Results thus far, 3 referrals.
Is this successful? No.
What will it take to be successful? 200 subs
What are the baseline needs? 39 subs
If I get 39 referrals within 4 weeks, I will pay 1 more month.
How did I get to that number? The cost is $39 per month. I am now starting to allocate $1 for acquiring a new subscriber.