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The Dropbox Referral Program. Are Referral Programs the Secret Marketing Weapon for Startups?

Dropbox is a file storage, sync, and collaboration service that gives users access to their files from any device. The company’s platform makes it easy for businesses to store and share files, leading to organizational adoption.

DropBox referral program is probably the most famous referral program today. The company went from 100k registered users to 4M registered users. That's a 3900% growth over 15 months!

What Is A Referral Program?
A referral program is an excellent way for a business to grow its customer base, but it can be challenging to get referral marketing right. There are two main ways to set up a referral program: From a customer’s perspective, there are also two types of referral programs: 
  1. An affiliate program where customers get a commission for every sale they make.
  2. A lead program where customers get rewards for introducing a new customer to your business.

Dropbox Referral Program.
You need to create a unique referral link to set up a referral program with your users. Dropbox allows you to use your branding, so you can choose whether or not to include a referral link and branding in your link. You can also use your referral link or branded links to invite current customers to refer new users to your account.

Once you’ve set up your referral link, you can choose how to reward your customers for referring new users. You can decide to offer a one-time reward or a recurring reward for every person they refer. You can also choose whether or not to require your customers to enter the email address of the person they’re inviting. It is a great way to make the referral process more targeted and specific.

Referral Program Benefits For Startups.

- Increased customer lifetime value: A customer who believes in your product enough to refer it to their network is more likely to stay a customer longer and spend more overall.

- Increased customer acquisition: Most referral programs have an “ask and you shall receive” approach customers know that if they refer enough people to your business, there will be something in it for them.

- Improved customer retention: Referral programs are most effective when customers are motivated by the possibility of future rewards.

- Increased branding awareness: With referral programs, you can put your brand in front of new and existing customers vested in seeing your business succeed.

How Can Referral and Rewards App Be of Assistance to Your Startups?
You will have better engagement and retention rates when you have a Referral&Rewards app that integrates referral and rewards programs. This app will also encourage customer reviews, which can be helpful for your business. Incorporating the app into your business gives your customers the chance to make a difference.

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