This is a guest post by Jack Paxton, the co-founder of VYPER, a marketing tool that helps brands build email lists, social followings, and revenue using viral giveaways, referral, and reward programs. Jack spent millions of dollars testing different marketing strategies at his marketing agency. He then also co-founded Hyax a fast, conversion & design-focused course and funnel builder for creators.
Famous SaaS brands like Dropbox and PayPal witnessed explosive growth in their platforms. Since 2007, Dropbox has grown into a $4 billion-dollar company, and PayPal went from 1 million users to 5 million in the same year (2000).
Dropbox and PayPal are two entirely different businesses operating in different markets. However, they share a similar viral growth strategy, one that is still used today.
Any ideas on what this strategy might be?
You got it, they both harness the power of referral marketing.
In this article, we present world-famous referral programs to determine what made them successful and how you can do the same.
Click on the relevant links to jump to your section of choice. Alternatively, scroll down to read all we have to say, to optimize your growth strategy via referral programs.
- What is referral marketing?
- The power of referral marketing
- How to create a successful referral program
Let’s jump to it!