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REFERRAL MARKETING MEANING

Referral Marketing - Featured Image - Make Money Referring People to Websites

Posted:  April, 2022

By:  Allen Matshalaga

What Is Referral Marketing?

As the name suggests, it is simply referring or recommending a product or company to a fellow friend or colleague. This started with companies offering to share their profits with what they call “Affiliates” to try and increase their sales by reaching a wider audience.

Referral Marketing Companies

Some examples of these are ClickBank and MaxBounty which are currently the leading affiliate networks in the world. These companies create a platform where sellers can find middle-men and pay them a % commission for driving sales. 

 

This is an old system but it still works till this day, as affiliates are cashing out thousands of dollars in commission every month.

 

However this set up has also moved to the digital world. We have seen the birth of many platforms which pay users for referring other users to join their platform. 

 

For example we have Payoneer, which is the largest online banking system covering clients on an international scale.

 

Over the years Payoneer has stretched its reach all across African continents. They managed to do this by offering an incentive which was a sign up bonus given to new users. Payoneer not only rewarded its affiliates but also gave the first time sign up users an incentive too.

 

Both the affiliate and the referral get US$25 credited into their accounts. Sounds like good money right? Sign up for Payoneer using this link, so that we both get paid. 

 

With advancement in technology we have seen smart contracts, like forsage being built on the blockchain technology.

 

These programs were designed as Multi-Level Marketing (MLM)s and Pyramid Schemes where you pay to join, then make money by referring other people to join. 

 

Unlike pyramid schemes, forsage is built on an ethereum blockchain, this means it can never be manipulated or shutdown. It shall exist as long as the ethereum blockchain exists. 

 

Forsage members get paid the full amount of the new users’ joining fee that they reffered to the platform. 

 

The program has 3 slots, 2 of them pay the member and the last one is used to recycle that level.

 

Nowadays all new programs or websites are being built with an affiliate section for people to sign up and make money. 

 

Due to huge competition, most corporate companies are now willing to share their profits with referral marketers or offer some sort of incentive to their loyal customers.

 

This strategy boosts sales and helps promote brand awareness and statistics show that these companies are growing at rapid rates. 

 

These platforms have been created in such a manner that people gain followers/potential customers making them influential as they can convert their audience into sales with a simple post or shout out.

 

Elon Musk for example, has the most controversial tweets of all time, whatever he tweets can spark a wildfire or conversations and has a negative or positive impact on it.

 

“Dodgecoin tumbles after Elon Musk calls it a hustle on SNL show” – source reuters –

 

This is the power of influencers and they are the number one go to when you are looking for people to sign up as your referrals, be it for CPA affiliate programs or E-commerce commissions. A number of affiliates are paying influencers as much as US$100 just for a simple 2 hour shout out.

 

In conclusion, referral marketing is a win – win for both the program, platform or software and the affiliates. If you are looking for ways of making passive income online click here.

 

Interested affiliates can sign up for referral marketing and start earning instantly.

CEO & Founder of the AVFX Trading HUB Company/Website

Written By: Allen Matshalaga

Allen is a professional forex trader, blogger and an online enthusiast who spends most of his time testing and reviewing legit ways of making money online and is determined to help others succeed.