Better Way To Convert ING Referrals

We have come to milestone – we have now given away over 500 ING Direct $25 bonuses to people opening an ING account through us. We have been quite successful in making money with this program and I get emails from time to time on tips on how people can convert the invites they have (anyone that has an ING account has 25 invites they can give to others where the person will receive $25 if the make an initial deposit of $250 and the person sending the invite receives $10 for the referral). These are the steps we took that helped us convert a lot more than we initially were which also should help you convert ING invites if you have extras.

The typical way to convert ING invites is to have

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6 Responses to Better Way To Convert ING Referrals

  1. junger says:

    Great idea! I’ll have to see how that method plays out.

    One question, though: despite it being completely legitimate, having a “sign up and get $25 free” link just sounds a little fishy. What’s the best way to package it so people won’t be afraid to sign up with ING?

  2. Andy says:

    I just made a post about this same thing last week. I haven’t had near the success of you though. I’m still slowly making my way through my referrals at a rate of 1 or 2 a month. It isn’t too bad considering I still don’t have much traffic. One a month will pay for hosting fees at least.

  3. mapgirl says:

    I was wondering how people did this. Thank you so much for spelling it out!

  4. pfadvice says:

    One question, though: despite it being completely legitimate, having a “sign up and get $25 free

  5. samerwriter says:

    In my opinion, the part about it that sounds fishy is trying to objectively say it’s a good bank, and then disclosing that you’re being paid cash by the bank for referrals.

    Presumably, if there were two absolutely equal banks, with the exception that Bank A gave $25 only to new accounts while Bank B gave $25 to new accounts and $10 to the referrer, Bank B would be recommended more.

    Now what if Bank A is a tiny bit “better” than Bank B. It’s likely that Bank B would still get more referrals. It’s easy to rationalize; Bank A is only a tiny bit better; no one’s likely to notice the difference.

    Then the question becomes, how much “better” does Bank A have to be than Bank B to convince people to refer new members to Bank A, which offers no money for referrals rather than Bank B.

    That’s the question that makes these referral bonuses all seem fishy to me. I would never propose that any individual is doing this, but in aggregate, clearly it happens.

  6. pfadvice says:

    I don’t think it is an either / or question. A $25 bonus is an instant 10% return on your investment. Even if there are better banks, the money can be taken out immediately and moved to one paying a higher interest rate.

    Of course, you have to come to your own conclusions on what you do and don’t want to recommend. I have absolutely no problem doing so and there are other referral programs I have chosen not to do because I don’t think they are a benefit.

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