Listen to a conversation between Cascade CEO Spencer Schmerling and Director of Sales and Marketing, Chris Lynch about the best practices when it comes to referring your friends and family.
Spencer gives great insight into people’s mindset when they first hear about the Cascade Prepaid MasterCard®.
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Here is a recap of the conversation:
More often than not, you will get 1 of 3 responses when you tell someone about the Cascade Card and CrowdFunded CashBack program:
- THAT IS THE COOLEST THING I HAVE EVER SEEN!!
- Uhh, that kinda sounds like a Ponzi scheme, or it might be too good to be true.
- Oh, I already have a card, thanks. How’s the weather?
The people who are in the first group are probably going to be excellent referrers, they are the people who don’t need to be persuaded about the potential of CrowdFunded CashBack.
The people in the second group might turn out to be the best cardholders. Once they realize that the CrowdFunded CashBack program isn’t a Ponzi scheme, they often convert over to the first category – “THAT IS THE COOLEST THING I HAVE EVER SEEN!”. You can share some FAQs with them which usually does the job.
You’ll want to be patient with your friends in the third group. Maybe you’ve heard the adage “You can’t push a rope”. That truly applies to these guys. If you bombard them with your excitement, you risk isolating them. For these friends, just continue to expose them to the Cascade Card through sharing content from our blog and Facebook page, using your card, and talking to your friends and family about the power of CrowdFunded CashBack
This call is really about the people who don’t immediately see the benefits of the Cascade Card, and CrowdFunded CashBack. Most of your friends who start off here will need to go through these stages before they get a card.
- Hesitation – gut reaction to financial offers is to put up defenses
- Curiosity – seems too good to be true… got to find out more
- Understanding – starting to get how the program works
- “Aha!” Moment – head fully wrapped around the program as a whole
- Privilege – the Cascade Card is available by referral only
The concerns of your friends and family are legitimate, and should be addressed before asking them to get a Cascade Card. If you ask them at the right moment, there shouldn’t be any arm twisting.
Hesitation: If you tell someone about a great lunch spot, do you think that they are going to go there right away? They might not go for a few weeks; the same thing goes with referring your network. If they don’t go there right away are you going to get mad at them? Probably not, but the next time you see them you might say: “Have you had a chance to check out that lunch spot?”
Curiosity: This is when your excitement for the product rubs off on your friends and family. Their curiosity will allow them to understand a few basic points.
- This is a Prepaid MasterCard that is issued by Sunrise Banks N.A. with excellent customer service, and a clear transparent fee structure.
- CrowdFunded CashBack comes from the interchange fee, not the card fees.
- The amount of CrowdFunded CashBack that they can earn could be substantial.
Understanding: Once they pick up on these few key points, they will have an understanding that this is an excellent product. They still may not be ready to get a card.
The decision to get a Cascade card might seem like a real no-brainer to you. The benefits are so vast that it’s tough to remember how skeptical you were before you got your card. Keep in mind that it’s only natural for your friends to be cautious when dealing with money. That’s a good thing, that is a sign that your friend is a thoughtful, financially literate, consumer.
On the other hand, many of your friends who spend enough time browsing the Cascade Card website will reach that “Aha!” moment on their own. Suddenly, it clicks and they get how the program works. Some people reach this moment very quickly. Others need several days of coming back to the website over and over again before it clicks.
Once you see them having their “Aha!” Moment, you’re almost home. The last step is to help them understand just how exclusive the Cascade Card is. After all, if they didn’t have you as a friend, would they have another chance to get a card?
So what is the key to referring your friends and family? When you refer someone to go see a movie or eat at a restaurant, you aren’t telling them to go there because you want to get something out of it, you are telling them because you were genuinely delighted. Use your card and allow yourself to have a captivating experience. This will make it easier for them to travel faster through the 5 stages. Most important, have fun with this revolutionary rewards program.