Rewarding with Referral Factory and Stripe

Automatically reward your referral program participants using Stripe 🎁 With the option to issue credits or coupons, you can use this feature to incentivize your new leads with special offers or reward your existing customers for their referrals!

Are you looking for referral program software that works with Stripe? 

Get your referral program up and running, and integrated with Stripe, in just a few days 👉 Try Referral Factory

If you already have a Referral Factory account, then keep reading to learn how to use Stripe as a rewards partner 👇

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In this guide 👇

1. What You Can Do With Stripe Rewards 

1.1. Who Can You Reward?

1.2. What Events Can Trigger A Reward?

1.3. How Can Rewards Be Issued in Stripe?

2. How To Connect Stripe As A Rewards Partner

3. How To Add a Stripe Reward in Referral Factory 

3.1. How To Add a Standard Stripe Reward

3.2. How To Add a Milestone Stripe Reward

 

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1. What You Can Do With Stripe Rewards 

 

With Stripe and Referral Factory, you have the flexibility to reward and incentivize in a way that suits your needs. Before we dive into the step-by-step guide, here are some of the options that you will need to consider when creating your reward:

1.1. Who Can You Reward?

You can reward:

👉 The Person Referring (the person doing the referring, who shares their referral link) 

👉 The Person Invited (the person being referred, who signs up on the referral link they were sent)

👉 Both! Note that you will need to add multiple rewards, one for the Person Referring and another for the Person Invited. 

Click here to learn more about different types of users. 

1.2. What Events Can Trigger A Reward?

You can trigger a reward on:

👉 An invited referral (when the Person Invited fills in their details on their friend's referral link)

👉 A converted referral (when the Person Invited "qualifies") 

👉 Both! Note that you will need to add multiple rewards, one for each of the triggers.

In addition to these triggers, you have the option to set up:

👉 A Standard Reward (These typically operate on an ongoing basis with no changes to the reward value as participants accumulate more and more referrals.) 

👉  A Milestone Reward (These 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. Click here to learn more.)

1.3. How Can Rewards Be Issued in Stripe?

You can issue the reward as:

👉 A  Stripe Coupon (You set these up in Stripe with a discount percentage or value. You can learn more about coupons in Stripe's knowledge base).

👉 A Stripe Credit (This will apply a negative balance to a customer's account on Stripe. You can learn more about credits in Stripe's knowledge base). 

 

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2. How To Connect Stripe As A Rewards Partner

 

 

→ Navigate to the Settings tab from the left-hand side of your Referral Factory dashboard. 

→ Select Rewards Partners.

→ Underneath the Stripe logo, click Connect. 

 

 

→ A pop-up will appear asking you to Connect Referral Factory. Click Connect.

 

→ Success!

 

 

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3. How To Add a Stripe Reward in Referral Factory

 

3.1. How To Add a Standard Stripe Reward

 

→ To add a standard Stripe reward, go to the Rewards tab from the left-hand side of your Referral Factory dashboard.

→ Click Add New Reward.

 

 

→ Give your reward a name.

→ Select who you want to reward: the Person Referring or the Person Invited. 

→ Use the drop-down select field to connect your campaign. 

→ Click Next.

 

 

→ In the Choose Reward step, select Stripe.

→ Click Next.

 

 

→ Under the dropdown for "Choose type of reward to issue", select Standard.

→ Select whether a reward should be triggered when a referral is invited (i.e., when someone submits their information on a referral link landing page) or when a referral is converted (i.e., once the referral is qualified). 

→ Set the target number of referrals invited, or referrals converted that trigger a reward.

→ Next, select whether you want to issue the reward as a credit or as a coupon inside Stripe. You can learn more about coupons and credits in Stripe's knowledge base.

→ To issue a credit, select the currency of your credit and add the value of the credit in that same currency. 

→ To issue a coupon, use the dropdown to select from the coupons you have already created in Stripe. To learn more about how to create coupons in Stripe, consult their knowledge base. 

→ Then, select whether to apply the coupon to a subscription or to a customer. 

→ If you would like to limit the number of rewards that a single user can get, select Yes. Please note that the limit is the number of rewards to be issued, not the value of the rewards. 

→ Click Next. 

→ In the final step, you have the option to enable auto-issue. This means you will not have to authorize these rewards to be issued to users, they will be issued automatically. This method is NOT recommended, as we advise our customers to check all rewards before issuing them. You can also toggle this setting on or off from the Rewards tab. 

→ Click Activate.

 

3.2. How To Add a Milestone Stripe Reward

 

→ To add a milestone Stripe reward, go to the Rewards tab from the left-hand side of your Referral Factory dashboard.

→ Click Add New Reward.

 

 

→ Give your reward a name.

→ Select who you want to reward: the Person Referring or the Person Invited. 

→ Use the drop-down select field to connect your campaign. 

→ Click Next.

 

 

→ Under the dropdown for "Choose type of reward to issue", select Milestone.

→ Select whether your milestone rewards should be triggered when a referral is invited (i.e. when someone submits their information on a referral link landing page) or when a referral is converted (i.e., once the referral is qualified). 

→ Next, define the rules for your first milestone.

→ Select the target number of invited or converted referrals that will trigger the first milestone.
→ Then, select whether you want to issue this milestone as a credit or a coupon. You can learn more about coupons and credits in Stripe's knowledge base.

→ To issue a credit, select the currency of your credit and add the value of the credit in that same currency. 

→ To issue a coupon, use the dropdown to select from the coupons you have already created in Stripe. To learn more about how to create coupons in Stripe, consult their knowledge base. 

→ Then, select whether to apply the coupon to a subscription or to a customer. 

→ If you choose to issue a coupon, the field for the reward value will be automatically disabled. 

 

→ Once you have defined the rules for Milestone 1, select + add milestone to start on Milestone 2. 
→ Repeat the previous steps for each additional milestone.
→ Once you have added all your milestones, click Next.

→ In the final step, you have the option to enable auto-issue. This means you will not have to authorize these rewards to be issued to users, they will be issued automatically. This method is NOT recommended, as we advise our customers to check all rewards before issuing them. You can also toggle this setting on or off from the Rewards tab. 

→ Click Activate.

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Want to learn more about tracking, editing, and issuing rewards? Consult our full guide on rewarding with Referral Factory.