But Endy does it differently. Endy Fax Number List uses what I call the “Cash Rewards Strategy.” A standard incentive for most ecommerce stores is a percentage or cash discount off. Their next purchase (e.g., give $20, get $20): Screenshot Fax Number List showing copy for a referral program But Endy doesn’t give discounts. Instead, Endy Fax Number List gives away cold, hard cash. Screenshot showing a thank you note The reason is simple. Endy knows very well that a mattress is not a product that is bought frequently.
Anyone buying a mattress is Fax Number List expecting it to last for the next 10–20 years. It would be useless for Endy to give away a Fax Number List discount for a future purchase — their customers would have no use for it. To make their referral Fax Number List program attractive, for every new customer referred to them. Endy will send CA$50 by Fax Number List PayPal to the referring person. Refer enough friends, and the referrals can pay for the mattress!. Ergodriven followed this exact same strategy here to give a $10 cash reward.
For $500 spent in cash Fax Number List rewards, they made $4,950 in new product referral sales. It’s a great strategy, that both Endy and Ergodriven’s customers love. Which also explains why they are beating the industry average referral Fax Number List rate of 2.35%: Screenshot showing referral program stats Key Takeaway: Here’s a Fax Number List general rule of thumb we recommend ecommerce stores follow. If you’re selling something people buy often, like razors or cosmetics, give away a discount coupon as an incentive.