📌 Want to know what else you can do with rewards on Referral Factory? Read the overview.
Understanding Milestone Rewards
Milestone rewards are incentive-based rewards that you can offer to your referral program participants for achieving specific goals or milestones.
Standard Rewards vs Milestone Rewards
With Referral Factory, you have two options for configuring the logic of your rewards: "standard" rewards and "milestone" rewards. Standard rewards typically operate on an ongoing basis with no changes to the reward value as participants accumulate more and more referrals. Milestone rewards, on the other hand, allow you to change the value of a reward based on a goal or target number of referrals at various milestones.
One common use case of a milestone reward structure is enabling a tiered structure, offering larger incentives as participants rack up more referrals.
When deciding whether to use standard or milestone rewards, it's important to consider what type of behavior you want to incentivize from participants.
While both options can be effective depending on your goals, milestone programs tend to generate more sustained engagement and higher quality leads over time than programs that only offer standard incentives. However, milestone rewards can be confusing for participants, especially if they are poorly communicated or overly complicated.
How To Add A Milestone Reward
Step 1: Add Reward From the Rewards Dashboard
→ In the left-hand navigation bar of your Referral Factory dashboard, click the Rewards tab and select Dashboard from the dropdown menu.
→ Select the Milestone Rewards tab.
→ Click Add Reward.
Step 2: Name Your Reward, Link A Campaign, Select Your Trigger
→ Name the reward. This is used for internal management purposes and won’t be shown to your users.
→ Select the relevant campaign.
→ Select the trigger for your reward.
→ Click Create.
❗️ Rewards are linked to campaigns. If you have multiple campaigns and want to issue rewards in each of them, you will need to create multiple rewards.
Step 3: Add A Milestone
→ Your new milestone reward will appear in the table. Click + Milestone to add your first milestone.
Step 4: Name Your Milestone
→ Enter a name for your milestone. This is used for internal management purposes and won’t be shown to your users.
→ Click Add Milestone.
Step 5: Build Milestones
→ Follow the prompts to build the milestone. You can learn more in the following guides:
→ Repeat Steps 3-5 until sufficient milestones have been added.
Step 6: Activate Your Milestone Reward
→ Click the blue Actions button and select Activate.
📌 Now that you’ve added a milestone reward, learn how to export and/or issue rewards that become due.