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Turn your customers into salespeople.
Customer referrals can be an effective way to tap into your current customer base and explore new revenue streams. Roku, a Saratoga, California-based company that makes a device that allows users to stream media to their televisions, understands this concept. Last year, the company introduced a refer-a-friend campaign where, for every friend you refer, your friend gets the lowest price on a Roku player and you get a free month of Netflix. "We knew we had an engaged customer base that was passionate about the product, and we wanted to tap into that," Lomit Patel, Roku's senior director of direct marketing, told Inc. magazine.