So this is an important thing to focus on. I am glad it caught your attention. Now that you have launched your referral campaign, you should know that for how long you should keep a referral program running on the same reward.
It all depends upon your brand, the size of your customer base, and the type of referral campaign. But you should never keep a customer hanging on the same rewards for long.
Some campaigns are going on in the long term, and then some only last for a few months.
Long term Campaigns
Long term campaigns run for years. These are an ambassador program that is the best marketing strategy to keep the new customers coming in.
The best example of a long term referral campaign is Dropbox’s refer-a-friend campaign. It is running since the beginning of the referral trend. Dropbox gives out free space on every successful referral to a friend. Dropbox’s referral program is one of the best and oldest referral programs ever started.
Short term campaigns
Short term campaigns last for a few months. They are the most popular ones—discounts, sales only continue for less than a month or sometimes just for a few months.
The brand like Uber and Amazon start their referral campaign, which doesn’t last very long. This is the best way of keeping your customers engaged and making your campaign viral. Uber starts their referral program after every 2-3 months or so, of sharing the referral and getting a 10% discount on their ride.