We don’t believe in magic formulas at Teachable. When it comes to success, we know that hard work and tools that work are what lead creators to success and profits. Our latest product release is designed to help creators just like you work more efficiently and scale your business so you can hit those milestones and goals faster than before. Introducing our brand new student referral program feature, crafted to help you increase your sales and expand your student footprint.
Consider it our winning formula to age old problems—no magic required.
Scale and share
There are two things we know our creators crave: a dedicated network of students and hearty sales. And when the two are so intricately intertwined, it’s important to invest your energy and attention into strategies that help achieve both. That’s where our new student referral program comes in. It can help you tackle both wisely and efficiently.
Strength in numbers
The new feature is a powerful tool that helps you incentivize existing students (via a discount) to share your products with their peers.
Here’s how it works: With our student referral program, there’s now an opportunity for your existing students to refer their friends to your school. In doing so, both the referred friend and the student will receive a reward discount. How much you offer is entirely up to you. We’ll allow you to offer percentage discounts—choose between 1 and 100% off. How you run your program is up to you.
In one transaction you’ve just given a happy customer a reward, expanded your student reach, and made another sale. Best of all—anyone can reap the rewards. Creators of all sizes and on all Teachable plan types can take advantage of the student referral program feature immediately.
Teachable creators have been utilizing a student referral option in the past, but they’ve done so in a less-than-ideal way: manually. We knew we could do better for our creators. So we did.
Now, you can enjoy an automated experience that takes a once inefficient process and makes it seamless and stress free.
Simple set up
Because difficult isn’t our style, we made the student referral program easy to set up. To begin, watch our demo video to guide you through the process:
Once you create a student referral program, you can add a referral block to your course curriculum to make it easier for your students to get all the details of your offer and start sharing. You can get the exact steps to set up your student referral block in our Knowledge Base article here.
Prepare for impact
Simply put: The student referral program feature is designed to make you money. We crafted an optimal incentive structure to deliver maximum results so you see more students, more sales, and ultimately more success.
Partners in marketing
With a double-sided reward structure, you’re able to give paying customers the opportunity to be your very own marketing partners. And really, happy campers are the best marketers you can ask for.
Studies show that 83% of satisfied customers are willing to refer a product to their peers. What’s more, referred customers are four times more likely to buy a product and have a 16% higher lifetime value. Plus, you’re gaining high-quality customers, aiding in overall course completion rates and student satisfaction.
All that means you’re building retention and scaling your customer reach with no extra work to you.
Proof in the profits
With student referrals, not only will your students recruit new paying customers for you, but they’ll also be incentivized to make return purchases themselves, thus increasing revenue streams for you.
The key to utilizing this tool and seeing all that it can offer is to build the buzz of your referral program into your marketing strategy. Consider adding a note to your email communications or newsletters, building a mention into social media posts, adding a testimonial from a referral to your sales page, and hyping up the value of the discount you’re offering.
Pro tip: Even if you’re just starting out with your online course business, offering a student referral option is a quick way to boost profits and grow a loyal network of students.
A full-circle experience
With the addition of our student referral program feature to our already expansive features list, we’re proud to offer a comprehensive experience for creators like you.
Combine the student referral program with our affiliate program to promote your course to the widest possible audience. (As a reminder affiliates receive a percentage of revenue generated from any sale that is a result of their promotion.)
Set up tiered access bundles to create a powerful product package. Bundle your top course with one-on-one coaching to increase your impact on students’ learning. Or integrate your Circle community with your course for an added student support system.
No matter how you grow, Teachable has the tools to help you run the business you want, how you want it.