How Refer & Earn Module Works in Platforms Built with Yo!Coach

People often ask their friends and family for recommendations before buying any online course or enrolling on any online tutoring platform. Online tutoring businesses can use this word-of-mouth strategy to fuel cost-effective customer acquisition while simultaneously enhancing existing customer retention. Recognizing the important role of this feature in marketing your online tutoring business effectively, we have incorporated ‘Refer and Earn’ module in our advanced online tutoring software–  Yo!Coach.

In this blog, discover how the ‘Refer and Earn’ module works in platforms built with Yo!Coach. But first, let’s understand what is ‘Refer and Earn’.

What is Refer and Earn?

In a ‘refer-and-earn’ program, happy customers recommend your platform in their social network through their referral link. When new customers sign up or make their first purchase on the platform via the same referral link both the referee and the referrer receive the reward.  All-in-all, it’s a win-win for both the referee and the referrer, as both get rewarded. It’s a popular marketing strategy tutoring businesses use to spread the word about their services and offerings. 

Advantages of Refer and Earn

There are many benefits of incorporating a refer and earn program into your business, let’s know about them. 

Increased Market Reach: A well-designed referral program can spread like wildfire, as happy customers eagerly share their positive experiences with others, increasing your market reach and causing the customer base to grow rapidly.

Cost-Effective Marketing: Compared to traditional marketing methods, refer and earn programs help businesses acquire new customers at a lower cost. Because it’s your current customer base that helps you in spreading the word about your business. It is more cost-effective as you only pay when new customers are acquired through referrals.

Brand Advocacy: Referral programs encourage customers to become cheerleaders for the brand by giving them rewards for actively promoting your online learning platform to their friends and family.

Trust and Credibility: Recommendations from friends and family members are often trusted more than advertisements. With the refer and earn program you can leverage this trust and improve your sales and revenue. 

Low Barrier to Entry: Joining a refer and earn program is usually very easy for customers. They can easily participate in and recommend your tutoring platform to others. 

Now that you have gained knowledge about refer and earn and its advantages, next, let’s understand the flow of the refer and earn module. 

Flow of Refer and Earn Module 

Let’s understand the start-to-finish workflow of the refer and earn module. Admin is responsible for managing all the settings related to refer and earn module. Let’s see how it works. 

• First, the admin enables the refer and earn setting from the manage settings tab under referral settings. 
• The admin then sets the conversion rate of reward points, which determines the worth of each reward point. 
• Next, the admin sets a minimum threshold for reward point usage. This means customers can only redeem their points once they’ve accumulated a certain amount.
• Further, the admin decides a fixed amount that a referrer will receive when their referred referee registers with their online tutoring platform. 
• Similarly, the admin sets how many reward points the referee (the person being referred) will receive upon registration. This acts as an incentive for them to sign up and explore your online tutoring platform.
• Next, the admin determines the reward points the referrer will receive on the referee’s first purchase completion. 
• In the same way, the admin decides how many reward points referees will receive upon completing their first purchase. This adds an extra layer of motivation for new customers to make that initial buying decision.

Sharing of Referral Links and Reward-Earning

Let’s gain insights into how referral links are shared and rewards are earned by the referrer and referee. 

• The referrer shares the referral link via the copy-paste method, email, and social media (WhatsApp, Twitter, Facebook and Telegram).
• The referee receives the link and clicks on the link which redirects the user to the registration page from where the user can register. 
• Upon successful registration both the referrer and referee will receive the reward points as set by the Admin. 
• Then the referee makes the first purchase on the platform and once the purchased session is completed (i.e. the learner and teacher attend the session and the session is marked as completed) both the referrer and referee will receive the reward points as set by the admin. 
• The referee and referrer can use these reward points while purchasing sessions (as a learner) or can redeem them in the wallet (as a teacher).

This is how the refer and earn module works in the platforms built with Yo!Coach. In case, you still need more guidance or have any questions, you can contact our experts. 

Conclusion

With a refer and earn program on your platform, you can tap into the power of word-of-mouth marketing strategy. Your online tutoring business can unlock a cost-effective and highly targeted marketing channel that will drive growth, success, and tangible results in the years to come. By opting for software like Yo!Coach that comes pre-integrated with the refer and earn module you can easily start a feature-rich online tutoring business and can implement this marketing strategy and take your business to new heights.