EquityFeed was looking to accelerate their growth. As a company focused on delivering exceptional products to their customers they did not want to distract their focus by building non-core technology.
They needed a solution that would require minimal maintenance, low up front cost and full support.
EquityFeed chose to run a double-sided referral program, which rewards existing users and new users with a monthly discount on their bill upon a paid conversion.
A discount based reward resonated with existing customers. It resulted in very creative sharing, and effective referrals by customers excited to reduce their bill.
The double-sided reward made it easy for referrers to be transparent about their referral and lead to a high conversion rate of trial subscriptions to paid subscriptions.
EquityFeed has seen strong growth and customer engagement with the Referral SaaSquatch platform. Program engagement, to generating new website visitors, to acquiring paying customers.
With minimal maintenance, upgrades, or changes, EquityFeed continues to see 5% monthly engagement rates resulting in 18% annual paid user base growth.