A referral code is a unique set of letters, numbers, or symbols that identifies a person who has referred someone to a product, service, or program. Referral codes are often used as a form of marketing to incentivize individuals to refer others to a product or service, typically by providing a reward or benefit for doing so.
When someone refers another person using their referral code, the person being referred will typically enter the code when signing up for the product or service. This allows the company to track which individuals have been referred by whom and provide any associated rewards or benefits to the referrer.
Referral codes can be used in a variety of industries, including e-commerce, mobile apps, and financial services. Some companies offer cash bonuses, discounts, or other incentives for successful referrals, while others may offer points or rewards that can be redeemed for various products or services.
In addition to benefiting the referrer, referral codes can also be beneficial for the company offering the product or service, as they can help to increase customer acquisition and loyalty, as well as drive sales and revenue.
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