KuCoin was launched at the same time as Binance in 2017. The exchange, however, had a poor start and struggled to recruit users for the first few years. KuCoin has grown from strength to strength since then. This is primarily due to two factors. The first is that KuCoin has attempted to entice new users to join by providing significant referral bonuses and free tournaments. The second is the exchange’s growth to offer a variety of defi functions.
What exactly is a referral program?
A referral program is a marketing strategy that encourages your current customers to tell their friends, colleagues, and family members about your company. A referral programme typically rewards customers with a gift card, discount, points, or swag in exchange for their efforts.
The benefit of a referral programme is that it allows businesses to identify their most loyal customers and track where their new customers are coming from. With a dedicated referral page and messaging, an established programme makes it easy for customers to spread your brand.
What are the benefits of a referral program?
A referral programme can be quite beneficial to any company. Here are four compelling reasons to begin a referral programme.
Standardizes the process of sharing:
Customers will gladly refer you to others if your company provides excellent items and services. Even your most satisfied consumers may forget to tell others about your company. They may never consider suggesting others unless they notice a friend or family member who needs your goods or service.
This is where software for referral programmes can help. A referral programme standardizes how you invite and reward clients for spreading the word about your business. You may boost the chances of your business receiving word of mouth by implementing a formal referral programme with clear and appealing benefits.
Attracts new clients for a modest price:
Referral programmes entice existing customers to spread the word about your company in exchange for a reward. Referral incentives have a predetermined cost (per referral), and they are only rewarded for performance.
Compared to most forms of advertising, the result is a substantially reduced customer acquisition cost (CAC).
What is the process of a referral programme?
Referrals are one of the most effective marketing strategies. Not only do most of us seek others for product and service recommendations, but we also trust these recommendations.
According to research, consumers prefer referrals from friends and family over all other forms of promotion.
It’s logical. These folks have been where you are now and are looking for a comparable answer. You’re more inclined to test a product if a previous consumer recommends it.
Create a referral scheme that works:
The next step is to build your referral programme when you’ve decided on your prizes. Your campaign’s look and feel can reveal a lot about your company and how it interacts with customers. After all, these referrals could be someone’s first exposure to your company.
Keep your referral programme messaging simple, and make sure all of the elements – the way it looks, feels, and sounds – are consistent with your brand.
KuCoin is a cryptocurrency exchange that allows you to buy, sell, and store a variety of cryptocurrencies. It has a popular mobile cryptocurrency app as well as an online interface. You can purchase KuCoin’s native coin (kcs) to reduce fees and gain incentives.
People can trade crypto exchange with just an email address because the account verification process is optional. However, as previously said, you must validate your account to enjoy its additional capabilities. Because of US crypto rules, Americans are unable to do so.