If you Google “David Cancel Referral Bonus” you’ll find a few interesting results.
Like the time he gave out $10,000 referral bonuses for engineers. And the time he bumped it up to $30,000 (that’s not a misprint).
But at Drift, David wanted to do something different — and that’s what we’re talking about on this episode of Seeking Wisdom.
Time Stamped Show Notes:
01:28 – Launching the new Drift Referral Program
01:50 – Why you should care about the new employee referral program
02:03 – Previously tested referral programs
03:15 – What is the Drift Referral Program?
04:10 – Choosing an experiential reward instead of money
05:58 – The logic behind investing in employee referral programs
07:52 – The success of the $30,000 referral bonus
10:00 – The value that comes with the high standards of internal referrals
12:40 – Dealing with a negative podcast review
14:20 – Get your Hypergrowth tickets while you can at https://hypergrowth.drift.com/ Promo code: Seeking Wisdom
3 Key Points:
- Employee referral programs are one of the best ways to recruit top talent.
- You should try unique referral bonuses to incentive your team to get their friends in the door — but cash isn’t always king.
- Focus on people and experiences to get the best results in your business.
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Connect With Us
Follow David (twitter.com/dcancel) and Dave (twitter.com/davegerhardt) on Twitter.
Come hang out with us at seekingwisdom.io and on Twitter @seekingwisdomio.
Learn more about Drift at Drift.com.