Referzo has released a new Web-based referral tracking and payment software.
The platform allows individuals to recommend products and services through Facebook, Twitter, email and any other forms of electronic communication, while also receiving a referral fee for resulting transactions.
“This tool was designed to incentivize the long-tail of Internet publishers – individual customers who communicate with friends via Facebook, Twitter, and/or email – instead of professional bloggers or web marketers,” says Adam Swiecki, founder of Referzo. “The result is a simple, flexible system that encourages individuals to refer products to their friends – directly or within their social networks – and get paid cash to do it.”
Referzo was created to provide a better way to generate referrals directly from customers that visit retail sites. The platform takes advantage of social networks, rewards social behaviors and uses network integration tools for newly created application programming interfaces.
People that refer participating brands or products on their social network get paid after someone else clicks the Referzo link and makes a purchase. The purchases are tracked through the use of a Referzo cookie. However, if the purchasing friend’s browser blocks or deletes cookies, the publisher of the Referzo link does not get credit for the transaction.
For transactions that are recorded, the person that posted the link gets paid through PayPal or by check when the payable balance exceeds $25. Additionally, if chosen, referral fees can be donated to a charity of choice.
Merchants that participate in Referzo should inform customers that they are paying for referrals, and then provide a Referzo link that directs people to the merchant’s site. Referzo keeps track of conversions, administration and referral fee processing.
Merchants choose the cost of the Referzo platform by deciding what they will pay customers as a referral fee; Referzo then charges an administration fee that is equal to 20 percent of referral fees paid. However, there is a minimum administration fee of $99 a month.