Referral System and Partnership Model Explanation
Retoken is tokenizing the referral industry sector, helping to create a transparent and measurable system.
Digital technologies have allowed businesses to reach new global markets without significant financial costs. In addition, new platforms allow manufacturers and sellers to interact in a new meaningful way with their prospective clients.
Developing a central console where manufacturers can input incentives creates a new dynamic between parties where manufacturers can automate a process and reach every possible salesperson from across the globe.
Retoken helps manufacturers reach new potential users through blockchain integration, ushering in lower levels and investment. More importantly, Retoken allows manufacturers to quantify and measure the effectiveness of the referral bonus channel.
The Retoken Referral System
The blockchain-based referral system developed by Retoken is a two layers system. First, product and service providers can use Retoken to enable bonuses as a means to motivate sellers and customers by rewarding their initiative with RETO tokens — the native token of the Retoken ecosystem.
In an ideal world, customers share their positive and negative experiences. However, existing bonus systems only reward negative reinforcements and disregard positive ones. Thus, service providers can use Retoken to share extensive referral campaigns with sellers and buys, which can be accessed through the internal Retoken wallet.
The referral system generates unique customer codes for each platform participant. Service providers are able to track and measure the results of their campaign as each user will have a geotagged link. Following a positive or negative referral, end users are rewarded with Retoken in their own wallet, as stated in the program’s bonus rates.
Partnering for bonuses
Retoken’s partnership program allows blockchain-based referrals to enter the global market. The process entails new businesses will have to integrate the Retoken console into their daily operations. Cashiers or accounting systems are the basis of expanding the Retoken network across new sales channels.
Partners who want to use Retoken must purchase RETO tokens from a third-party exchange in order to access the referral system. In addition, each partner can set the goal of a campaign and select how they want to motivate their users.
As a result, service providers as partners unlock new possibilities for understanding the effectiveness of their sales channels. In addition, Retoken enables sellers to earn additional RETO tokens aside from their already working commission.
By establishing a decentralized, transparent, and automated referral system, service and product providers can easily identify product winners and use data to improve or build new products to boost their market offer.
