"How much do you love your energy company enough to recommend it to a friend? How about if 50 was up for grabs? Richard from Suffolk is a customer of Octopus Energy, and now eight of his family and friends are, too, after he recommended the provider to them all through its referral scheme. I really think [referral schemes] are a good idea. It's an incentive to swap without it, I think people wouldn't bother switching and would carry on as they were, he says."
"For each referral, Octopus gives 50 of credit to the referrer and the referee. Richard says his dad was delighted with this arrangement. That paid for a month's worth of electricity for my dad, which he was really happy about, he says. Across energy, banking, shopping and entertainment, there are lots of companies and brands offering existing customers perks for bringing in new business."
"Refer-a-friend schemes can be genuinely useful in offering cash bonuses or discounts for both parties, says Jane Hawkes, the founder of the consumer rights website Lady Janey. However, it is important to approach them with a degree of caution and common sense. If you like cinema, Cineworld offers a month of free Unlimited membership if members refer a friend. That means free cinema for a month."
Refer-a-friend schemes reward existing customers and the people they refer, typically via links or codes that grant cash, credit, discounts, free months, or points when a referral signs up. Octopus Energy offers £50 credit to both referrer and referee, prompting one customer to recruit eight family and friends and to pay a month’s electricity for his father. Businesses use these schemes to gain new customers more cheaply than advertising. Consumers can benefit from bonuses but should exercise caution, be honest about their experience, and disclose any personal bonus when recommending a service.
Read at www.theguardian.com
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