Master 'the referral confidence curve' to expand your network

India is a dynamic and ever-evolving economy with several opportunities, and individuals are discovering innovative ways to expand their social network and earn more online. Referral programs offered by banks are helping individuals leverage their connections to earn a reliable second source of income, often every month.

For example, IDFC FIRST Bank's MyFIRST Partner program is empowering people across the country to earn substantial sums by simply referring the bank's personal loans to people in their network. Over 7 lakh individuals have joined this program and are benefitting from its ‘uncapped earnings’ feature, which means that one referral partners can earn more than ₹1,00,000 every month. This article shall delve into the strategies to maximise your earnings through referral partner programs, using the MyFIRST Partner program as a guiding example.

Tips to follow to earn more through a referral program in India
 

Looking to earn more through the MyFIRST Partner program? Here’s what you need to know:

1. Choose a referral program with a reliable refer-and-earn app like the MyFIRST Partner program
 

Communication is key, especially when it comes to understanding the nuances of a referral program. With the MyFIRST Partner program, each partner is assigned a dedicated relationship manager who acts as a mentor and guide throughout the journey. If you have any doubts or queries about the program, you can also contact IDFC FIRST Bank’s Central Helpline. This personalised support can significantly boost your confidence and understanding of the program, enabling you to make the most of it.

2. Contact your dedicated relationship manager if you have any doubts about the program
 

Communication is key, especially when it comes to understanding the nuances of a referral program. With the MyFIRST Partner program, each partner is assigned a dedicated relationship manager who acts as a mentor and guide throughout the journey. If you have any doubts or queries about the program, you can also contact IDFC FIRST Bank’s Central Helpline. This personalised support can significantly boost your confidence and understanding of the program, enabling you to make the most of it.

3. Improve your communication skills to earn more
 

While referral programs are based on connections, effective communication plays a pivotal role. Enhance your communication skills to articulate the benefits of the product or service offered by the bank. The MyFIRST Partner program offers training and resources to help partners polish their communication skills. By presenting the features and advantages of IDFC FIRST Bank's personal loans eloquently, you can increase the likelihood of conversion and, consequently, your earnings.

4. Select a reputed bank’s referral program
 

Trustworthiness and credibility are paramount when partnering with a bank for a referral program. Opt for a reputed bank like IDFC FIRST Bank, which is known for its ethical practices and customer-centric approach. A bank's reputation directly impacts your referrals' decision-making process. The stronger the bank's reputation, the easier it becomes to convince potential customers to explore the offered products or services.

5. Opt for an online registration procedure
 

Choose a referral program that offers an online registration procedure to expedite the onboarding process. The MyFIRST Partner program streamlines the registration process through its app, ensuring that you can swiftly become a partner without unnecessary delays. This online approach saves time and effort, allowing you to focus on the core task of referring and earning.

Sign up for the MyFIRST Partner Program in four easy steps:
 

1. Download the MyFIRST Partner App:

Begin by downloading the MyFIRST Partner app from your preferred app store.

2. Submit documents including PAN and bank details:

Once you've downloaded the app, complete the registration process by submitting necessary documents, such as your PAN card, address proof, and bank details.

3. Get a digital ID:

After successfully registering, you'll receive a digital ID that uniquely identifies you as a referral partner.

4. Refer IDFC FIRST Bank's loans to people:

With your digital ID in hand, start referring IDFC FIRST Bank's personal loans to people within your network.

Mastering 'The referral confidence curve' is a powerful way to not only expand your network but also generate a reliable second source of income. By following the tips provided and taking inspiration from the IDFC FIRST Bank's MyFIRST Partner program, you can navigate the world of referral partner programs with confidence and finesse. As India's economy continues to evolve, leveraging your connections through such programs could be the key to unlocking new avenues of financial growth.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.