From 0 to 375 million rides in five years: Lyft became one of the most valuable companies practically overnight. They were smart, calculated, and strategic.
Lyft uses the power of referrals to bring new users to the platform. By offering new riders $10-50 in free ride credits, and current drivers up to $1,000 for introducing new drivers to Lyft, this company has experienced immense growth which shows no signs of slowing down.
Current Lyft Promotions for 2018
Lyft promotions can be broken up into two segments:
- Promotions for new and existing Lyft riders: When a new passenger is referred to Lyft, both the referrer and the referred user gets a reward.
- Promotions for new and existing Lyft drivers: When a new driver is referred to Lyft, both the referrer and the referred driver gets a reward.
Both types aim to reward all users for their recruiting efforts. The first half of this article will address promotions for drivers. If you are a rider, scroll halfway down the page to view the Lyft promotions that apply to riders.
Lyft Driver Promotions
A Sign-Up Bonus for New Lyft Drivers
When a new user signs up to drive for Lyft through the referral code of a current driver, they both stand to earn a bonus. To refer new drivers:
- Go to Lyft.com.
- Select “Driver Referrals” from the menu.
- Enter the email addresses of whoever you want to send an invite to. They will receive an email with a referral link containing your driver promo code. Once clicked, they will be guided through the application process.
Lyft offers its new drivers an attractive signup bonus upon completing a specific number of trips. The bonus amount depends on your city, driver supply, and demand at the time of your application. The required number of trips vary by city too, but hitting the ride quota to qualify for this bonus isn’t difficult.
Once the new driver successfully signs up to drive for Lyft, they’ll receive a confirmation email mentioning the relevant bonus amount they can earn, and all the bonus requirements they need to meet to claim the sign on bonus.
Upon finishing all requirements, they will receive the bonus via direct deposit within 1-2 weeks. The driver who made the referral will see the referral bonus applied to their Lyft account in form of credits.
Lyft lets drivers in specific cities earn a guaranteed amount of money per week. If the driver fails to make the mentioned amount through driving, then Lyft will personally cover the difference.
Lyft drivers must meet a few criteria in order to earn this promotion:
- Must apply through a link that is either an ad or link for this specific promotion. Lyft will email you an offer for this promotion if you reside in an eligible city.
- Meet the weekly ride requirement which may include some or all of the following:
- Keep a 90% weekly acceptance rate for the week
- Complete the required number of trips. If you drive for Lyft Line, each new rider you pick up will count towards that ride goal.
- Complete a specific number of hours in driver mode. Even if you don’t actively give out any rides in those hours, they will still count towards your goal.
This driver promotion is currently available in the following cities:
- Los Angeles
- New York City
- Orange County
- San Diego
- San Francisco
- Silicon Valley
- Washington, D.C.
This promotion might be strenuous and time-consuming. If you are looking to get some quick cash, but drive part-time, then the new driver sign-on bonus is likely the better option for you. If you are planning to commit full time to Lyft driving, then definitely give this bonus a try.
Lyft gives each driver a custom referral code. When a new rider signs up to Lyft and uses that code, they get to enjoy free Lyft credits, and Lyft pays the referring driver cash for their referral.
Quick tips for referring new riders:
- The rider must enter the referral code to their account before they take a ride. It will not work if they attempt to apply the code after requesting a ride
- Only one new rider promotion per passenger is allowed. After that promotion, riders will need to look at Lyft Codes for Existing Users
- Codes cannot be shared through paid advertising like Google Adwords, Facebook, and Twitter Ads
- Referral and bonus credits are valid for 14 days from the time the code is applied
- Participation is subjected to Lyft’s Terms of Service
This is a great way for drivers to diversify their earnings and to minimize downtime between rides. We’ve come across plenty of drivers that go from bar to bar, between giving rides, handing out referral cards, and earn a few hundred dollars every weekend from this method alone.
Driver discounts with Verizon
Lyft’s recent partnership with Verizon Wireless gives users the option to save 15% on their monthly bill and family plans, and 25% eligible accessories on the Verizon Network.
This partnership between Lyft and Verizon Wireless has saved Lyft drivers tons of money on their bills. Since a smartphone is mandatory for running the Lyft app, having this discount will help you save a ton on data.
If you’re a new Verizon member and would like to take advantage of this partnership, head over to the “Silver” section in the Lyft Dashboard and click the link to Verizon. On Verizon’s page, click Shop Now from the top banner on the page. The site will then walk you through the steps to buy plans, device, and accessories.
Current Verizon members need to sign into their “My Verizon” account and complete the form on the next page.
Once finished, Verizon will send you a confirmatory email. You should see the discount applied to your bill within 1-2 billing cycles.
In the Accelerate section of your dashboard, you will find many other partnership discounts available that may be relevant to you. Browse through all of them and apply to the relevant ones.
Lyft passenger promotions
New Lyft users are eligible to receive free ride credits when you use one of our Lyft promo code mentioned below. This promo code is a fantastic way to test out the service without personally paying a dime. New user promo code will get you enough free Lyft ride credits to get you pretty much anywhere you need to go for free.
Lyft is currently testing out new user referral amounts for different cities. These amounts are hovering between the $20-50 range, and are good for 14 days from the time the code gets entered.
You don’t have to use up all your credits in just one trip. Unused ride credits will roll over to the next ride.
Refer passengers to get free ride credit
Existing Lyft users can earn free ride credits by inviting friends to use Lyft. For every passenger you refer, you will earn credits once the referred passenger takes their first ride.
Lyft provides a number of tools that riders can leverage to share their referral codes with their friends on social media outlets such as Facebook and Twitter, or via email and text.
Refer new drivers – double sided-rewards
Lyft riders can earn credits which will last for years by referring new drivers. This is not that well known since riders typically don’t think about recruiting drivers; instead, they stop at asking their friends and family to sign-up to ride with Lyft. While passenger referral does come with its own incentive, it’s not nearly as big as what you can stack up by referring new drivers.
Whether you are looking to make some extra cash as a driver, or earn free Lyft ride credits as a rider, Lyft is offering many options for you to do just that.
Have a promotion that we didn’t include? Leave it in the comments below and we would be happy to look into it and add it to our list!