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Referral Incentive

Referral Incentive

Noun

A referral incentive is a commission or compensation offered to individuals, partners or customers for referring new business or clients to a company. These incentives can take the form of cash bonuses, discounts, gift cards or other perks and are designed to motivate participants to actively promote the company’s products or services.

Referral incentives are a cost-effective way to leverage existing networks (like the PartnerStack Network) and drive growth. They are particularly effective in building trust, as referrals often come from trusted sources, increasing the likelihood of conversion.

Example:

We introduced a referral incentive program for our partners, offering a $500 credit for every new client they bring in and it’s already resulted in three new deals this quarter.

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