Was looking at monthly earnings poll and noticed a reference to Referral Earning.  I've seen a few threads here about soliciting referrals but don't remember seeing much about earnings ... or the pros and cons?

I belong to a photo club but avoid attending because of constant hounding about getting into stock photography.  Would there be a great benefit (financially) to having them as my referrals?
Or, should I follow the sage advise of a few and discourage more competition?

If they're anti stock photography, I really don't see much point in trying.  I wonder how many members of a photo club would be good enough to get in to sites like SS

One in ten, maybe, it could be presented as a challenge, apply and get accepted. That would be interesting to keep survey results and also an awakening for others that getting accepted as a contributor for IS or SS isn't as easy as it looks. Then step two, getting photos accepted and finally three, (the big one) making a sale!  

Reminds me of the start when more agencies offered referral bonuses. Now some have discontinued or reduced them. Some only pay for buyers.

What it does remind me of most of all is MLM and pyramid schemes. "Make money, get friends to join. Get a commission every time they make a sale."

Yes it would be interesting for the club and I still think it could be presented as an educational challenge as well as introduction to one more way of marketing photos. Stock is Stock whether it's micro or something else. It's probably the best way for someone without a gallery or agent or inside track to some traditional agency, to make sales and produce some outside income.

Just don't use the usual pyramid scheme tactics and point at Yuri or Mr. Locke, hey they did it, so can you. Be honest. It's a long hard fight and the market is flooded and bursting at the seams with good quality work and image factories. If you do come up with something original and good, the chances are someone will not only copy it (or a few someones) but the free sites will also steal your work and give it away for free.

It's not easy! Getting in on the ground floor went away a few years ago. Saturation, competition, and imitation. The piece of the pie is shrinking all the time.

Do you really want to refer friends into Microstock?

In my opinion referral and affiliate income is part of the microstock business model. Yes the biggest part is your photography, but if you have to place a link somewhere to your portfolio or link to a agency, why not linking with a referral link? If you have your own website and link to your different portfolios, why not using referral links.

You could give a workshop with at your photo club about stock photography (probably for free). Ask them to sign up through the links on your website.

I think you can make some income with referrals and don't have to invest to much time in it.

I make money with referrals and affiliates every month, but it isn't necessarily the most profitable operation. If you are looking for affiliate programs, you can always try to make some money selling my stuff. All the cool kids are doing it. I have a bunch of nice looking banner ads in various sizes...

http://www.mystockvectors.com/affiliate/index.php

Yay!!! I got a little shameless promotion in. 

I make monthly few dollars on referrals.  I just post from time to time some of my referral links to FB. I wouldn't spend my time on writing blog or web because of it.
I think that most of newbies are crazed by all these "get rich fast blogs". They click on your link, register, submit few images and when they find out that they will not become microstock billionaires within one month they start to look around for another way how to make money without working.
IMO Luis is right - if you want some money that worth mentioning - focus on buyers.