Terms

The person who provides the referral is often referred to as the "referrer" or "advocate." This individual is an existing customer or user of a product or service who recommends it to someone in their network. The referrer can receive various benefits for successfully bringing in new customers through their referrals. These benefits typically come in the form of incentives, rewards, or discounts provided by the business offering the referral program. The specific benefits can vary and may include things like:

1. *Discounts:* Referrers may receive a percentage discount on their next purchase or a fixed amount off their bill for each successful referral.

2. *Credits:* Businesses may offer credits that the referrer can use toward future purchases or services.

3. *Cash Rewards:* Some referral programs offer cash rewards or gift cards as an incentive for successful referrals.

4. *Free Products or Services:* Referrers might receive free products or services based on the number of successful referrals they make.

5. *VIP Treatment:* In some cases, businesses may provide special privileges or VIP treatment to customers who refer a significant number of new customers.

6. *Exclusive Access:* Referrers might gain access to exclusive deals, promotions, or events as a token of appreciation.

The goal is to create a mutually beneficial relationship where both the referrer and the new customer gain value. This approach encourages existing customers to actively promote the business to their friends, family, or colleagues, helping the business expand its customer base while rewarding those who contribute to its growth.