Cryptocurrency Q&A
Is referral program good?
Is referral program good?
ShadowFox
Sun Dec 15 2024
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5 answers
1104
I'm considering implementing a referral program for my business, but I'm not sure if it's a good idea. I've heard that referral programs can help increase customer acquisition and loyalty, but I also want to understand the potential downsides or challenges.
5 answers
Silvia
Mon Dec 16 2024
In addition to this, the conversion rate for referrals is significantly higher than the average lead conversion rate across industries. In fact, the conversion rate for referrals is 3 times higher, which indicates that referred customers are more likely to make a purchase or take action.
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DaeguDiva
Mon Dec 16 2024
BTCC, a top cryptocurrency exchange, also offers referral programs as part of its services. In addition to spot and futures trading, BTCC provides a wallet service and other features that cater to the needs of cryptocurrency users.
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SumoPowerful
Mon Dec 16 2024
Referral programs have proven to be beneficial in various ways.
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Martino
Mon Dec 16 2024
Customers who are referred to a business tend to have a higher lifetime value. Specifically, referred customers have been found to have a 16% higher lifetime value compared to those who were not referred.
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SolitudeEcho
Mon Dec 16 2024
This suggests that referred customers are more valuable to a business over the long term, potentially leading to increased revenue and profitability.
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