Aussie gadget company Millennius has decided to branch out into the social rewards business, yesterday announcing the String Purchase System in order to promote its products.
The service, which will go live on May 2, offers cash back for every purchase of a product made through your referral. As the press release describes it:
If a customer likes a particular product offered by Millennius and then purchases the product, they are then given a referral link which can be sent to their friends and family or even set up a website to start their own business and start being rewarded for referring friends and family who make a purchase. The system is set up in three distinct tiers. The Bronze level is for those who refer 1 to 5 people, and the referrer earns 5% from each purchase, totalling 25%. The Silver level is for those who refer between 6 and 10 people. The referrer earns 10% from each person, for a maximum of 75%. The Gold level is for those who refer more than 11 people. Here, the referrer earns 12% on each purchase, giving them a tremendous amount of money back.
Given Millennius dabbles in the low-price market of consumer electronics, you’re never going to find yourself rolling around in mountains of money like Scrooge McDuck, but any incentive that rewards the consumer with cash is a win.