What Are Recurring Rewards?

Recurring rewards are issued at regular intervals that you set. These can be weekly, monthly, quarterly, yearly, or at a custom interval. This reward structure is popular in SaaS referral programs.

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

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

In this guide 👇

1. Understanding Recurring Rewards

2. Setting Up Recurring Rewards in Referral Factory

2.1. How To Add A Recurring Reward

2.2. How To Issue A Recurring Reward

1. Understanding Recurring Rewards

Recurring rewards are a type of reward structure where referrers receive rewards on an ongoing basis at fixed time intervals, often linked to a repeating spend by the person they referred. Popular in SaaS referral programs and affiliate marketing for subscription-model revenue, Referral Factory allows you to automate the calculation and issuing of recurring rewards!

Reward intervals can be tailored to suit your specific goals and preferences, ranging from weekly and monthly to quarterly, yearly, or even at custom intervals. This consistent issuing of rewards serves to maintain referrer engagement over an extended period. 

With Referral Factory, you can issue recurring rewards as a fixed reward value or as a percentage of a total spend or deal value (what we call commission-based rewards). 

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

2. Setting Up Recurring Rewards in Referral Factory

2.1. How To Add A Recurring Reward

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

→ In the next step, select Recurring Reward. 

→ Select whether you want your recurring reward to be issued as a fixed value or as a commission. 

👉 To add a fixed value reward:

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

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

→ Optionally, set the reward currency. You can leave this blank if your reward is not monetary.

→ Set the reward value. You can enter "0" if your reward is not numerical or monetary.

→ 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. 

 

👉 To add a commission value 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. 

→ 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 whether you would like to limit the number of rewards that can be issued to any single user. 

 

→ Click Next. 

 

→ At this stage, you have the option to enable auto-issue. By default, Referral Factory will NOT automatically issue your rewards. However, you can toggle the switch to allow rewards to be issued as soon as they become due. You can also switch auto-issue on and off from inside the Rewards tab. 

→ Click ‘Activate’.

→  Success!

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2.2. How To Issue A Recurring 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.

→ Select the reward you want to issue.

→ Click Issue Rewards.