Web3 has impacted growth marketers. In this market, product launches and promotions face unique challenges, especially due to bans on mainstream platforms, many projects fighting for attention during bull markets, the cost and uncertain outcomes of marketing campaigns with KOLs and ads, and the challenges associated with building a solid community and incentivization structures. As a result, the reliability of traditional performance marketing is decreasing, leading businesses to explore alternative methods. An effective solution to this is Affiliate and Referral Marketing.
Referral and Affiliate Marketing have a long history, evolving alongside the internet to become crucial elements in the online marketing strategies of many companies. It is a performance-based marketing strategy where businesses reward affiliates / referrers for an action — driving traffic to their website, generating sales or leads, or getting downloads for an app. In this model, affiliates / referrers earn a commission or a predetermined reward for each customer brought in through their marketing efforts through a personalized link. This is beneficial for both parties, as the business gains increased exposure and potential conversions, while affiliate and referrers earn income without having to create a product or service of their own. Done right, an effective strategy can go from side hustle to a profitable online business idea generating passive income.
Friend.tech is a prime example of success in referral strategies. In its first two weeks, the platform quickly gained over 100,000 users, generating an impressive $25 million in revenue. Now, after just four months, the platform has 1,33 million active addresses and a remarkable 12,18 million transactions. This significant growth, especially considering market conditions, highlights Friend.tech’s notable success.
Friend.tech is a decentralized social network that operates as a marketplace for exclusive content from X (formerly Twitter) users. Users can trade “keys’’ linked to specific X accounts, granting access to private in-app chatrooms and exclusive content from the associated X user. The platform incorporates many Web3 features, such as airdrop rewards and fee sharing, expanding and enhancing the existing Twitter model.
The exclusivity of Friend.tech is evident in its invitation-only access. Every member receives three invite codes to share. Prospective users must receive an invite code, contributing to a competitive environment where getting such codes becomes a highly desirable task. Friend.tech’s rapid growth and exclusive entry method solidify its significance when evaluating effective referral strategies.
Another project that’s been in the spotlight is Blast. Following a similar growth strategy to Friend.tech, gaining access to Blast requires getting an invite code from someone already inside the community.
Blast is a L2 solution with native yield functionality designed for Ethereum (ETH) and stablecoins. Native yield implies that users can generate additional revenue and receive unique rewards directly within the platform. After securing $20 million in funding from investors such as Paradigm and Standard Crypto, the platform has officially announced an airdrop initiative for early users. Participants who register with an invite code, bridge ETH, and refer friends will earn airdrop points. These airdrop points can be converted into Blast tokens starting in May.
Referral and affiliate marketing have proven to be highly effective strategies. However, their development a lot of time and effort, and within the fast-paced web3 world, teams should prioritize focusing on their main products rather than building marketing tools. This is why there are a few options in the market that make this strategy more accessible for companies.
ReferToEarn provides Web3 companies a gamified affiliate conversion tracking and reward distribution system without the need of any development resources. It operates dynamically, using affiliate links to ensure a user experience similar to traditional web2 platforms while addressing trust concerns through the implementation of smart contracts.
→ Expanding Benefits: Layered Rewards
As part of Postmint’s app relaunch, ReferToEarn will introduce a very engaging feature: multi-level rewards. Affiliates will now be able to earn not only from their conversions but also from downstream conversions, creating a powerful incentive for recruiting top-tier affiliates.
Postmint focuses on the gamified growth of affiliate and referral networks. The integration of on-chain referrals, facilitated by smart contracts, ensures a secure and transparent process.
Postmint’s Web3 Affiliate Programs are available as SDK, no-code white label solution, or hosted campaigns. Sounds interesting? Let’s chat!
