As consumers, we are always looking for ways to save money and get the best deals on products and services. Two popular options are referral codes and discount/coupon codes. While they may seem similar, there are some key differences to consider when deciding which one to use.
Referral codes are unique codes that are given to a person by a company to share with their friends or family. The person who uses the referral code typically gets a discount or other incentive, and the person who referred them also gets a reward, such as credit or cashback. Coupon codes, on the other hand, are publicly available codes that anyone can use to get a discount or deal on a product or service.
So, when should you use a referral code versus a coupon code? Here are some factors to consider:
- Personalisation: Referral codes are personalised and unique to the referrer, while coupon codes are available to anyone. If you want to share a discount with your friends and family while also getting a reward for doing so, a referral code is the way to go.
- Exclusivity: Referral codes are often exclusive and not widely available, while coupon codes are often publicly available. If you want to offer a discount that not everyone can access, a referral code is the way to go.
- Rewards: Referral codes often offer a reward to both the referrer and the person who uses the code, while coupon codes typically only offer a discount to the user. If you want to incentivise your friends and family to try a product or service and also get rewarded for doing so, a referral code is the way to go.
- Limited time offers: Coupon codes are often available for a limited time, while referral codes may be available for a longer period. If you want to take advantage of a time-sensitive deal, a coupon code is the way to go.
- Flexibility: Coupon codes are often more flexible in terms of the products or services they can be used for, while referral codes may only apply to specific products or services. If you want a discount on a specific product or service, a referral code may be the way to go.
- Sharing: Referral codes are often meant to be shared with friends and family, while coupon codes can be used by anyone. If you want to share a deal with a specific group of people, a referral code is the way to go.
- Loyalty: Referral codes are often used as a way to reward loyal customers and encourage them to refer others, while coupon codes may be used as a way to attract new customers. If you are a loyal customer and want to be rewarded for your loyalty, a referral code may be the way to go.
- Brand advocacy: Referral codes are often used to promote a specific brand or product, while coupon codes may be used to attract customers to a variety of products or services. If you are a brand advocate and want to promote a specific product or service, a referral code may be the way to go.
- Stacking: We have seen a number of referral codes posted on this site which can be used in conjunction with a discount/coupon code. So it is entirely possible for you to get 2 lots of rewards/discounts when using referral codes.
In conclusion, both referral codes and coupon codes can be effective ways to save money and get discounts on products and services. The decision on which one to use ultimately depends on your specific needs and preferences. By considering the factors listed above, you can make an informed decision on which code to use and when.