What Are Commission-Based Rewards?

Referral Factory lets you automatically pay out commission-based rewards for referrals. Simply set the percentage and sale value and your reward will be calculated for you! Or, connect your CRM and track the value straight from your sales pipeline.

Are you looking for affiliate or referral program software that automates rewards and commissions? Look no further than Referral Factory!

If you already have a Referral Factory account, then keep reading to learn about commission-based rewards 👇

In this guide 👇

1. Understanding Commission-Based Rewards

2. Setting Up Commission-Based Rewards in Referral Factory

2.1. How To Add A Commission-Based Reward

2.2. How To Track Your Sale Value From Your CRM or Payment Processor

2.3. How To Issue A Commission-Based Reward

1. Understanding Commission-Based Rewards

In the realm of referral and affiliate marketing, a commission-based reward system serves as a powerful incentive to drive people to spread the word about your business! Simply put, commission-based rewards allow you to easily give referrers a percentage of each successful sale, deal, or conversion generated through their unique referral link. This means that when someone they've referred makes a purchase or completes a desired action, such as signing up for a service (what we call a "qualified referral"), that referrer or affiliate is rewarded with a commission. 

With Referral Factory, you can effortlessly manage your commission-based rewards. The platform can automatically calculate the commission value for you, taking into account the qualification rules, commission percentage, and deal/sale value that you set. 

You can set up commission-based rewards to issue once-off (as a Standard Reward) or at recurring intervals (as a Recurring Reward).

Commission-based rewards can be simply tracked (Issue Your Own) or can be automatically issued via Tremendous, Zapier, Webhooks, or Stripe.

2. Setting Up Commission-Based Rewards in Referral Factory

2.1. How To Add A Commission-Based Reward

→ In the left-hand navigation bar of your Referral Factory dashboard, click the Rewards tab.
→ Click Add New Reward.

→ Click Next.

 

👉 To issue a Recurring Reward

→ Select whether a reward should be triggered when a referral is invited or when a referral is qualified (successful or converted).

💡 Want to reward when the referral is invited AND when that referral converts? Set up multiple rewards within the same campaign. 

→ Optionally, enter the currency. 

→ Enter the commission value as a percentage. 

→ Optionally, enter a maximum value for the reward. This will cap your reward value even if the percentage of the total deal or spend is a higher amount.

→ Set the reward period, this is the interval at which the recurring reward should be issued. You can set the interval to be weekly, monthly, quarterly, annually, or at a custom interval of your choice. 

→ If you would like to limit the number of intervals that recur, use the dropdown menu to place a cap on the recurring reward. 

→ Finally, select how unqualified referrals should be treated. 

→ Click Next.

 

2.2. How To Track Your Sale Value From Your CRM or Payment Processor

If you've integrated Referral Factory with your CRM or payment processor, you may be able to sync the sale value automatically. 

→ In the Define Rules step of your Rewards Builder, select the Object/Module and Property/Field from your CRM or payment processor from which to track the sale value. 

2.3. How To Issue A Commission-Based Reward

→ In the left-hand navigation bar of your Referral Factory dashboard, click the Rewards tab.
→ Select ‘Rewards Due’.
→ A list of due rewards will appear in the table below.
→ Click on the checkbox for the reward you want to issue.

→ In the pop-up that appears, enter the total spend or total deal value of the newly referred customer. Your reward total will be calculated automatically. 

→ Click Add To Cart. 

→ Click Issue Rewards.

→ The cart will show the type of reward, reward name, campaign name, number of rewards due, and the total value of the rewards. 

→ Click Authorize or Mark As Issued.

→ Success!