The Passive Income Stream You are Not Taking Advantage Of

‍EDITOR'S NOTE: This article is a part of our Money254 Partner Series and is produced in partnership with Zenka Digital Kenya.  For more on Money254’s editorial policy, read here.  

The digital space has in many ways changed how people make money. One of the game-changing ways of making money online is through referrals. 

Referrals make it easy to earn money by simply referring products or services to your friends, family, and other people in your network. 

This article will explain to you in detail the Zenka Referral Programme that enables you to make money by sharing a link to the people in your network. 

But first, let’s understand how referral programmes work. 

How Referrals Work 

Referrals work a lot like a traditional sales job, only that you, (as the person making referrals) are free to work with as many companies and services as you want. 

Since this is a type of passive income stream, you get to structure your referral side hustle in a manner that best suits your schedule. You are not employed, you have full control of how much time you spend on it and how much you can earn is dependent on you. 

In a referral programme, a company gives its customers incentives to tell their friends, family and networks about their products and services. The incentive can be in cash such as with Zenka, vouchers and gifts or discounts on future purchases. 

You typically are given a referral link or unique code which you share with your friends and networks to use when purchasing the product or service. 

Every time your link or code is used to make a purchase on the product or service provider’s website, it is recorded in your account and your reward e.g. cash is paid to you. 

Want to Learn more about how Referral Programmes work? We previously wrote an in-depth article about referrals here. 

Lean More>> How You Can Make Money Through Referral Programmes in Kenya

Now, you probably know a few people who at one time needed cash urgently but were not sure where to get it. 

Whether it was for an emergency, to pay an urgent bill or to take advantage of a money-making opportunity, for sure they would have been grateful if you had given them a good option such as borrowing from Zenka Digital.

What’s even better is if you do this for a friend, colleague or social media fan, in addition to helping them secure a quick cash injection, you can also get a cash reward. Making it a win-win for all. 

Through the Zenka Referral Programme, you can earn a tidy amount of money, each month, by just recommending the digital loan app to people who are in such situations. 

Zenka is one of the most recognised digital loan apps in Kenya with over 5 million downloads on the Google Play Store. 

The app has gained popularity due to its ease of access, comparably lower interest rates, a relatively high loan tenure of 61 days and fast loan disbursement. 

It is no wonder the Zenka Digital Loan App has one of the highest star ratings of a digital app on the Google Play Store. As of March 3, 2023, over 106,000 reviewers had given the app an average rating of 4.2 stars out of a maximum of 5 stars. 

Zenka is one of the founding members of the Digital Lenders Association of Kenya (DLAK) - DFSA-K - an organisation that is working towards setting ethical and professional standards in the digital lending industry. 

Why the Zenka Referral Programme Stands Out 

Zenka is one of the pioneers of customer referrals in the digital lending sector and offers great incentives through its referral programme. 

You do not have to be a Zenka customer, or take a loan, in order to earn through their referral programme. 

All you have to do is download the Zenka Digital Loan and create an account after entering your basic KYC information. 

Once you have an account, you get a special referral link that you can share with your friends, relatives, and your extended network. The link is able to track each person who follows the link to sign up - and subsequently, to take a loan. 

For each person you successfully refer, you stand to earn Ksh210 in a two-step process. First, for every successful registration, that is someone entering their basic KYC information, you get a Ksh10 instant bonus.

Second, for every person who successfully completes registration and proceeds to take a Zenka loan using your referral link, you get a Ksh200 cash bonus once they repay their first loan. 

There is no limit to the number of people you can refer under the Zenka Referral Programme. This then means there is really no limit to how much you can earn under this programme as long as you can devise a way to reach new users. 

In brief, these are some of the perks of using the Zenka Referral Programe as a type of passive income project: 

• Ksh10 cash bonus for every person who registers an account through your referral link
• You do not need to take a Zenka loan to earn through the Zenka Referral Programme
• Ksh200 instant cash bonus for every person you refer and they apply for and fully repay their first loan
• No delays in cash discounts being repaid
• No limit on number of people you can refer

How to Boost Your Earnings Through Zenka Referrals

The idea behind referrals as a passive income stream is that the more you are able to successfully refer people, the more you earn. 

To increase your chances of making high and consistent earnings, it is advisable to go beyond merely sharing the link with your friends and family. 

Remember, you are paid on the first loan only. So, you do not want to restrict yourself to only people in your household alone. 

One of the first steps to boosting the amount you earn through Zenka is to leverage social media to ensure your link is shared to as many people as possible. 

By making regular posts about Zenka with your special referral link on it, people who see your posts on social media will identify you as a valuable source of information around Zenka loans.

The day they will need a digital loan, it will be easy for them to remember you and come back to use your link which is where you earn money. You can create a couple of posts that you can schedule to be automatically publishing on your socials making it the perfect passive income hustle.

Utilise WhatsApp stories and the stories features on all social media platforms too given the fact they are some of the most viewed post types across the platforms.

Also, if you really want to take this referral side hustle to the next level, you can open a blog where you regularly post blogs about Zenka plus other products that have referral programs and even a year from the day you post a blog someone can Google, find your blog post and earn you some “free” money.

Wondering which other products/services have referral programmes to add to your Zenka referral side hustle? We explored several products across industries in a previous article. Read it here.

Learn More>> Top 8 Referral Programmes in Kenya to Make You Easy Money

Wrapping Up

Earning an extra income has numerous advantages in making your life easier. It is even more advantageous if you are making this money passively - that is with minimal time commitment.

This extra cash will reduce the pressure on your primary income source. Meaning you can direct the extra cash to other beneficial projects such as home-ownership and retirement savings. You could also channel it to paying bills, entertainment or anything else that makes your life enjoyable. 

One thing is for sure, you will only fully appreciate the power of passive income once you experience it first-hand. 

So, why not sign up for the Zenka Referral Programme, try out some of the tactics we have explored here and join a growing community of Kenyans increasing their incomes passively? 

It is the only way to find out if you can actually excel at this. And the Zenka Referral Programme can be the foundation of your referral side hustle. 

Once you get good at this, you can add other products, replicate the same tactics and soon enough you could have a formidable passive income stream to power your dreams!