We are working with a real estate company and doing marketing for new leads. As part of the process, we will be sharing new listings with the email list and social media. We wish to create a referral program which incentivizes those who do not qualify for the new house (may not be looking, or out of budget or out of neighborhood) and want to enroll them in the idea of sharing the listing, but need an incentive to do so. Do you think a draw for a prize would work or would we need to go a % of commission?
If Im understanding your idea correctly you want to provide potential customers who for some reason did not qualify for a home an incentive to direct people to you.
IF this is the case you have a few options but each you need to be careful with So ill give you the pros and cons of each
Percent of commission. .... you could be asking for more work as far as tracking sales and taxes if it is applicable.
If you use a contest most customers dont care to go that route because they feel there is no chance of winning.
My best suggestion is to have a set amount per sale and do giftcards.
One, you can track your giftcards. You then know how much is going out and a better tracking method can be established as to how well this referral method worked compared to leads and sales.
Hope this helps and I wish you luck in you business.
Answered 9 years ago
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