Not all referrals are created equal. Some are amazing yet sporadic customers, while others become regular members or subscribers.
No matter what type of referral you’re hoping to attract, our software can reward all types of program structures.
Recurring rewards has been one of our most highly requested features – and we’re excited to announce that it’s now live!
This new feature allows you to automatically reward members on an ongoing basis, instead of just offering a one-time reward.
Here’s a quick FAQ to explain what you can expect with recurring rewards:
What companies should offer recurring rewards?
We find SaaS, ecommerce, and subscription-based companies can benefit from a recurring reward model.
For example, a SaaS affiliate program can reward members 30% of every invoice paid by new subscribers they bring in. Or an ecommerce company can reward members $10 whenever one of their referrals makes a purchase for the entire first year.
That said, recurring rewards offer greater flexibility and can be an attractive incentive for all kinds of companies.
How will recurring rewards work?
With recurring rewards enabled for your account, you will now have the option to create a Recurring Referral Action when setting up a reward rule.
Once the rule is setup and active, any program member can start receiving recurring rewards for their new approved referrals.
What else has changed as a result of this new functionality?
Nothing! Recurring rewards don’t affect any existing setup in your Referral Rock platform. The new reward option was built to increase reward flexibility. You can now stack your reward rules, using a mix of both recurring reward and one-time reward rules.
That’s our latest product update for August!