Square Trade created a referral campaign to coincide with the iphone 4S launch. It’s a great example of the right incentives, very generous cash bonus $10/referral, 5 gets $100 and $5 off on a new warranty. Plus a referral put both of them into a drawing for an iPad 2.
In the 5 week campaign:
- they gave away 50 iPads,
- 10,000 customers signed up to refer in 10 days
- 14,000 customers participated in the campaign
- Advocates shared with an average of 5 friends
- 60,000 shares across Facebook, Titter and email
- 2.200 new customers bought warranties
Square deal kept the cash referral program. The cash can be claimed via Paypal, I-Tunes or Amazon. Pretty well executed.
Read the story at targetmarketingmag.com