Hi everyone! We’re launching an exclusive referral program just for you guys here on the Neo Community and we want to make sure it’s as valuable as possible for you guys!!
When it comes to sharing Neo with friends, what’s most important to you?
A higher reward for your friend?
An equally split reward between you and your friend?
Special perks or bonuses for referring multiple friends?
0voters
My key question: Would you rather give your friend more money while still earning a little yourself, or would you prefer to receive more and give your friend a smaller reward?
Your feedback will directly help us create this program so let me know below!!
@Frankholmes I know you’ve expressed a lot of excitement about us launching an ambassador program on the community. I’m super curious about what your thoughts here, what kind of set up would be most motivating for you to use this referral program?
I’ll be honest, the benefit to my friend will not be the bonus incentive. If the card was bad but you gave them $100 I’d still not recommend it, and vice versa if the card was good (which it is) the benefit for them could be $0 and I’ll still recommend it. The benefit to me will be the main driving factor, not the bonus benefit my friend receives.
I think the $25 referral program is fine as a basic strategy but getting into a real ambassador program that drives measurable growth would ideally provide a strong cumulative incentive for ambassadors with meaningful perks and access to marketing support or events.
As for the benefit to new users referred, id say a neo CC could stay as $25 with maybe 6 months of premium
and
W/E a statement credit for the annual fee + 1 year of premium would make sense. Given the average Canadian is spending more than 2k per month on CC (according to this years Equifax report) that shouldn’t be much different than what you are currently offering for the 6k spend challenge and is similar to what Amex does for new users already.
As an ambassador the financial benefit would ideally inspire me to share on socials, with family and friends and go above and beyond just sending a link for $25.
I think it would be nice to know what the special perk would be compared to splitting the money. I think the special perk for those who get more referrals should be increased. Maybe the first 3 are 25 dollars and then maybe its 30 dollars per referral and then premium for 3 months for the next 5 referrals, and so on because the value of the customer acquisition as well as more use of the card is a benefit to Neo. By having it as a ladder of more rewards or perks it more feasible for people to want to continue to get referrals.
I’d love more or an open ambassador program, with custom links to refer to businesses. While sales reps are great, we each know our individual local markets and businesses.
