Do you know the UPI and shopping apps you use provides you an opportunity to earn side income? You heard that right. Many popular platforms offer referral programs. Participating in these programs ensures users get a commission if their reference succeeds.
How To Make Money Through Job Referrals And Networking?
These programs are well known as Refer and Earn. Typically, you refer a company’s product or service to your friends. You make money when your friend participates in the referral link.
There’s more to learn about referral marketing and how to make it a passive income source. So, let’s understand what referral marketing is and how it works. In this blog, we’ll glance at the top 10 apps that allow you to earn by referring jobs.
What Is Marketing By Referrals?
The promotion of products and services of a company through the word-of-mouth method is called marketing by referrals. A company uses this technique to incentivize its goods and create new customers. It influences business growth positively.
The comprehensive referrals marketing strategy motivates the brand promoters to form an internal network for your company.
So, these promoters encourage other customers to convey the company’s product or service to other people. It creates a chain of word-of-mouth marketing. As a result, more people learn about business and their ROI increases.
Let’s learn how marketing by referrals works.
How Does Marketing By Referrals Work?
Humans are social beings, and regularly, we communicate with our friends and families. Simultaneously, we share satisfactory experiences received from a particular brand’s product. Our friends inspire us to try the same item when we share positive feedback. This is how marketing by referrals works.
We trust people we know when they share positive opinions about a product or service. For example, you wish to share the product’s favorable results you try with your friends. Similarly, you share when you had a negative experience. Our opinions further impact other people’s decisions.
Companies promote referral marketing because it is affordable and effective. Brands can leverage customers and also spend less on marketing. Therefore, it increases the Return on Investment for a company.
Promoters try to spread the positive word through referral marketing. Therefore, more people test the products. Now, we’ll understand why referrals work better than other methods.
Why Do Referrals Work So Well?
Let’s look at some factors that make referral marketing work fantastically.
- Referrals motivate other customers to share the product’s reviews. A survey reveals that 83% of customers try the product when they hear positive feedback.
- Referral marketing helps brands to win loyal customers. These customers boost the company’s sales and awareness.
- Brands can create solid social proof through referral marketing. Reference is one of the most persuasive forms of marketing because the customers promote the business, and it builds your brand’s impression.
- The customer base spontaneously increases because your existing consumers share great reviews of the products.
- Neilsen’s study demonstrates that 92% of consumers believe personal recommendations from friends, testimonials, and reviews.
- Referrals on social media encourage 71% of customers to purchase the products. Referral marketers share referral links that boost potential customers’ numbers.
- It drives more customers to purchase your brand’s products.
Let’s discuss ten apps to earn by referring job candidates.
Top 10 Apps To Earn By Referring Job Candidates
Here is the list of notable apps that allow users to earn by referring job candidates. These apps also enable you to track your referral status earnings.
✅ Paytm Money
Paytm Money offers an outstanding referral program with a competitive cost structure. The discount broker app asks for low brokerage fees.
Furthermore, the platform is fantastic for beginners exploring referral marketing. They get familiar with stock markets and how an investment works. Additionally, Paytm Money is ideal for day traders.
Using Paytm Money is straightforward. Users must open their account on the app and log in with the correct credentials. However, the Paytm app only allows users with KYC-approved Aadhar Numbers to trade.
Another leading app for world-class referral programs, shares trade, and mutual funds is Upstox. Users interested in referral programs must sign up for the company service or product and share the referral code.
You earn a commission when your friends buy that particular product. Each participant in the referral program earns up to 200 rupees as a commission.
You will find the Refer and Earn section on the Upstox dashboard. As a new trader, you must adequately complete all the formalities.
✅ IIFL Securities
It is a fantastic stockbroker platform integrated with the finest referral programs. These programs offer excellent passive income sources to users.
Also, the existing customers on the app can promote a company’s services and products and earn cash. Users can participate in equity delivery trading with zero brokerage fees. However, you must pay 20 rupees for other trades.
The referral program at IIFL Securities app is profitable because users earn 500 rupees on each successful referral. Additionally, the app sends you gift vouchers weekly, which you can use after 60 days. However, these offers apply to the Demat account.
✅ Google Pay
Google Pay has earned immense popularity recently. The transactions on this platform are quick and secure. Google Pay has revolutionized transactions and streamlined the entire payment procedure.
You can participate in Google Pay’s refer and earning scheme that offers 150 rupees to 180 rupees for every referral. Google Pay is available on all Operating Systems.
The app is ideal for refer and earn programs in India. ySense provides surveys opportunity to users.
So, you refer ySense’s apps and websites to your friends and families and make a decent income. Users get at least a 30% commission on each referral.
ySense enables users to earn cash by watching videos and playing games. You can also sign up on other websites and apps and get a commission. The best feature of this platform is you don’t have to pay a penny to participate in games.
Therefore, it is one of the best and most free referral platforms as it works as an excellent passive income source.
PhonePe offers convenient refer and earn programs that ensure you earn cash without a hassle.
It has a user-friendly interface that makes transactions more straightforward. Also, PhonePe permits users to participate in investment and mutual funds opportunities.
A successful referral allows you to earn $125. Also, the referral money transfer completes within seconds.
✅ Amazon Pay
Today, Amazon is the world’s leading eCommerce platform that also provides the finest payment services through Amazon Pay.
It delivers exhilarating and unmissable referral programs. So, you can earn 75 rupees as cashback on each referral. Additionally, your friends who participated in your referral link get 125 rupees.
CRED has modified the credit card management system for users. You can monitor and check all your transactions. Additionally, each transaction helps you earn exciting cashback.
The app provides rewards and points when a user maintains a credit score and pays all the bills on time. You can purchase several items from these points.
At present, CRED offers to refer and earn programs. So, each referral gives you 10 CRED coins. Customers use these coins to get discounts on other eCommerce stores, such as Amazon and Flipkart. The cash or vouchers range from 150 to 1000 Rupees.
✅ Pocket Money
The app has 4.2 ratings on PlayStore, and reviewers consider it the most suitable refer and earn platform. You can earn 500 rupees on each referral and free recharge offer.
Additionally, you get 30 rupees when a user downloads the Pocket Money app from your referral link. Per day you can earn at least 160 rupees.
The app gives you food and travel coupons. Users also earn points from playing games, finishing challenges, and watching videos.
The online payment app enables users to pay bills, recharge, and invest in stocks and mutual funds. MobiKwik offers to refer and earn a program to its users that give you 50 rupees as soon as you join and 20 rupees on each referral.
In addition, you get 100 rupees when your friends transfer funds using MobiKwik. Its maximum limit is 1500 rupees.
You must download the MobiKwik app and link it with your UP accounts. Join the refer and earn program and win referral points.
These were the best referral apps that enabled users to refer and earn. Earning through referral marketing is one of the reliable passive income sources. A user needs to promote a company and win referral money in the comfort of their home.
You must know that the income through reference marketing is relatively low, and you should expect little from it. However, referrers get additional benefits with referral marketing on the apps mentioned in the blog.
Another advantage of refer and earn is that the platforms offer exciting rewards. These rewards can be discount coupons or cashback.
You can start referral marketing on free apps and earn immediately using your phones. Therefore, you can make it a great side income using referral marketing because you don’t have to exert much effort.