Referral as a Business Strategy

[moonchild]

Referral is a business strategy where you get to pay people or reward them in some sort of way for promoting your business or bringing customers to you, it's a good strategy if your business have any type of a viral loop, which basically is network effects.

Some business give out percentage to their referees when they sign up users and this is for most financial companies and also others offer you a fee for a every user you sign up, this should get you thinking on how you can integratebit in your own business and use referrals to boost your user base or paying customers.

Do you have any idea on this or contribution?