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Growth · 16 min
Referral Programs That Actually Work
The mechanics behind Dropbox / Robinhood-style loops.
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Why it works▾
A referral program without a viral coefficient math is just a discount code.
Full playbook▾
Mechanics
Reward, timing, gating, share format. Every one of these has a right answer for your business.
The math
K-factor > 1 is fantasy; K > 0.3 is a real channel. Model it before you build it.
Fraud
Assume abuse from day one. Rate-limit, cluster-detect, hold rewards for suspicious chains.