The top-performing referral programs are ones that are driven by offering both a reward to the person referring and an incentive to the person being invited.
Firstly, people feel good about getting a reward when they know they are giving something to their friends too.
Secondly, the person invited might be on the fence so to speak about using your product or service. They may also be considering another provider. Offering an incentive is a great way to tip the scales in your favor.
Thirdly, double-sided referral programs that reward the referrer and their friends are more effective in gaining mass adoption than single-sided referrals.
The best deals are built off the principle of “give and take” - understanding the art of negotiation, and the concept that in order to “get” you must be willing to “give”. Asking your customers to spread the word about your business should not be taken lightly or something you should expect of customers to do. They are taking time out of their busy days to refer you so rewarding them for doing so should be as valuable as possible.