We’ve been on a roll lately, running through a whole bunch of referral program examples. Here’s the latest one!
Seedrs is a UK-based Equity Crowdfunding platform.
Say hello to their landing page:
There’s actually a lot to learn from their landing page– it’s beautifully designed, responsive, has strong images, great copywriting and strong social proof.
But we’re here to talk about their referral program, so let’s skip those details and get right to it.
Simple Navigation – Is the referral program easy to find? Yes!
The top of the page has only 3 options, so there’s no information overload.
“Invest” and “Raise” are the two primary functions that their users come to the site for, and the “MORE” tab, on mouse-over reveals Referrals, Blog and FAQ.
What happens when you click on “Referrals”?
Referral Landing Page – Strong and succinct
Strong value proposition– earn money by referring new investors to Seedrs. How much? 50% of the company fees Seedr earns on any investments your friend makes over the next two years (!).
How does it work? – Straightforward referral link or code
Simply adding an “OR” between the two options would reduce cognitive load.
Referral reward variability – Pay it forward!
Seedrs wisely allows advocates to pay their referral fees forward to the people they’re referring. Investors tend to be high-status individuals (when you sign up, Seedrs literally ask you to verify that you’re a High Net Worth Individual), and they’ll probably be more interested in building relationships than making a % profit off their friends’ investments.
Being able to say “Hey, use my referral link and you’ll make an extra % on your investments” is a lot more powerful than “Hey, use my referral link so I can get a slice of your investment returns.”
Referral Portal – relatively easy to access
Seedrs requires you to sign up with them before you can start making referrals. How do you start referring once you’re logged in?
If you click on More -> Referrals as before, you get brought back to the “Join Seedrs” page– even if you’re logged in. I’m guessing this is a bit of a fluke. I then have to click around a little more– I recall that I have a dedicated link, so I assume it should be in my settings or on my profile somewhere.
I click on my profile in the top right corner, and go to Profile settings:
There, where I can configure my profile and change my password, I can also go to my Referral Portal, where I can see my referral code, like so.
Not too difficult to access, but it would be even better if I were brought to this page by clicking More -> Referrals!
What happens when somebody clicks on the referral link? You get brought to the regular signup page:
It doesn’t tell me that I was referred here by a friend : (
While the signup page is simple, it shows absolutely no sign of the fact that I was referred here by a friend of mine! If I had put in the link into my browser, while also having a whole bunch of tabs open, there is no context for me to remember why I’m here.
I would recommend that Seedrs add a little box at the top (kinda like what Airbnb does) with a reassuring “You’ve been invited by <friend>!”. It would likely improve conversion rates.
Also, while their landing page has loads of social proof, there’s none whatsoever on the signup page– where a critical decision needs to be made.
Still, all in all a pretty well-executed referral program!
Check out more referral program examples.