Create a Referral Program Strategy

Design a referral program strategy for the following business:

Business type: [e.g. SaaS / e-commerce / service / marketplace]
Current customer base: [approximate size and how engaged they are]
Average order value or LTV: [rough figures]
Product/service fit for referrals: [why would customers refer? what's the natural trigger?]
Budget for incentives: [e.g. none / small / meaningful]

Design the program covering:
1. Referral trigger: when and how to ask for referrals (the right moment in the customer journey)
2. Incentive structure: what the referrer gets, what the new customer gets — give 3 options (cash / credit / non-monetary)
3. Mechanics: how it technically works — share link, code, or email invite?
4. Messaging: the exact copy for the referral ask (email + in-app version)
5. Promotion plan: how to get existing customers to actually use it
6. Success metrics: what KPIs to track
7. Common mistakes to avoid in referral programs