Recession Mama Michele Ashamalla: I am so excited about a new website called TreatFeed! It's sort of an eBay meets Groupon where businesses -- both local and online --post deals for the public. The businesses set the terms of their deal, along with the minimum and maximum number of deals they are offering. The deals are, for the most part, available for only twenty-four hours, although there may be some that are available for forty-eight hours.
The site will feature at least five daily deals, one in each of the following five categories: food and dining; health and beauty; adventure; retail and services; and events. Here's what I think is the best part: Once you sign up, you can refer friends -- and instead of a straight referral commission, you receive a percentage of their purchases. A big percentage: ten percent!
And here's where it gets really good: You get a percentage of the purchases of the people they refer (three percent), a percentage of the purchases of the people they refer (two percent) and, finally, a percentage of the purchases of the people they refer, too (one percent). That's four generations of referrals!
For instance, if someone you refer spends $100 to purchase a certificate to a local business, you earn $10! If someone they refer also buys the same certificate (second generation), you earn another $3. You get another $2 if someone the second generation refers purchases a certificate (third generation) and another $1 if someone that the third generation refers purchases (fourth generation). On that deal alone, you would have made $16 from referrals.
Now, the site isn't posting deals yet, but you can sign up and start referring friends. They call their network "The Social Tree," and on their website, state how revolutionary their referral program is. Anyone familiar with Big Crumbs' cashback program knows that until April of 2010, they were doing the same thing with five generations of referrals. To be fair, those amounts generated would usually be pretty low, because you would be earning a percentage of the cashback earned, and cashback itself is a percentage. So, on Big Crumbs, if someone you referred spent $100 on a site that earned 10 percent cashback, you would earn a percentage of that $10, not a percentage of the $100 spent. (Now Big Crumbs gives 12.5 percent each for two generations of referrals, I believe.)
In any case, TreatFeed's program may not be as groundbreaking as they think, but it certainly is generous. I look forward to the website being up and running, which is slated for early November. I signed up today. If you want to be one of my referrals, sign up under: http://treatfeed.com/invite/ashamalla.