Referral Program Overview
Hi Harsh, can you give me a quick overview of CaptainBitcoin?
Captain Bitcoin is a gamified video content+advertising platform, where users earn native tokens for watching video content + adverts and additionally, if a user watches a minimum of two minutes of content, we enter them into daily Bitcoin raffles with high stakes.
The platform will be a place for people to learn about blockchain/crypto products, and we aim to have an educational twist too.
We have designed it to ensure a high level of attention to a targeted audience, by capping the videos at 10 minutes daily and validating their attention with multi-choice questions after each video.
Our users absolutely loved how quick and easy the process was in terms of getting the referral link and sharing with others.
Why did you decide to run a referral program?
Referral programs are the most effective ways to get the word about your product out there we found.
What were you looking for in a solution?
A product that does one thing and does it phenomenally well.
Why did you choose ReferralHero?
After testing various products we found Referral Hero was the most effective product in the way it is designed and the seamless process, even our users absolutely loved how quick and easy the process was in terms of getting the referral link and sharing with others.
The follow up email sequence we can setup on Referral Hero is straight forward too!
And of course the pricing is very competitive.
Referral Program Campaign Setup
How much time did it take to plan and execute your referral campaign?
Couple of weeks of planning went into our program before we executed and we needed to make sure we create urgency amongst our users where they would refer their friends, family and followers as the spaces in our various phases were limited.
Below is a screenshot of our plan:
As you can see, we implemented what we call ‘halving’ for each phase and I have to admit, this worked like an absolute charm and we closed the first three phases in 3 days or so once we deployed our resources after our initial user testing and feedback had been implemented.
What is your prize/reward and how did you come to decide on this prize?
We are targeting a cryptocurrency community and there is nothing people want more than Bitcoin! So, we decided to give away Bitcoin to our users and referrers.
Top prize if $2,500 USD in Bitcoin and then it gradually reduces in steps.
Total giveaway is $15,000 and we expect to get more than 75,000 users signed up with this reward in total of around 6 weeks of marketing.
Note - we have spent $0 on marketing apart from the $15,000 giveaway.
What advice would you give to someone selecting a reward for their referral program?
Know and understand what your users want and make sure the reward is worth the effort they put in. We have had Youtubers review and recommend our product to their followers without us asking them!
What was the user experience like?
As simple as possible. When the user signed in on our website after creating an account, first thing they would see their referral link
This simple choice made our referral program top of mind for all our users and the single most important call to action after sign up.
How did you promote the referral program to your users/customers?
Fortunately, having been in the industry for so long we know some great people with some following and we just got them to seed the word about our product in a way that drove curiosity amongst our target users and off we went!!
You gotta love the dynamic leaderboard! It makes our users very competitive!
How did you drive traffic?
We drove traffic simply by leveraging our network few days prior to the launch and then individually messaging every single person and then just took off from there. Here is the warm up post. That post has nearly 900 engagements and around 100k views.
Referral Program Results
What was the goal of your campaign?
Drive sign-ups for our pre-launch campaign.
How has ReferralHero helped you achieve your goal?
Referral Hero has all the features you need to run a simple and effective referral campaign - and the product itself is very flexible in terms of what it can achieve.
Our user growth is a testament of that:
- 0 - 500 = Four day
- 500 - 5000 - Two days
- 5000 - 7000 - One day
- 7000 - 10000 - Three days
- 10000 - 15000 - Few more days :)
As you can see from the graph below, once we gave it a green light, we hit a few thousand users in a few hours and had more than 10k users signed up in less than a week!
How has your perception of the product changed since you've become a customer?
We just had a few issues during setting up RH but that wasn’t due to the product itself but more due to our dev’s incompetency but since we went live, it has worked like a well oiled engine with no issues from either us, or our users.
What features did you like most about ReferralHero and why?
You gotta love the dynamic leaderboard! It makes our users very competitive!
What would you say to someone who is thinking about using ReferralHero?
Just. Do. It.
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Thanks to Harsh for speaking with us today. Visit Captain Bitcoin to learn more about Captain Bitcoin.
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