[Reward Design] 🌟 Reward Structures and Management Tips

Referral rewards are often misunderstood or oversimplified, causing many businesses to avoid referral programs altogether or to implement ineffective reward strategies.

Thoughtful reward design builds trust, create excitement, and encourage program participation.

Today, we’ll be reviewing key features to build effective reward structures, prevent fraud, and make it easier to manage reward fulfillment. Plus, don’t miss our upcoming webinar on the top 5 reward mistakes and strategies to do instead.

🎯 Reward Rules: Customizable reward structures

Build reward experiences tailored to your audience, business, and use case. Our reward builder offers flexible options to set up advanced reward structures that can incentivize both the referring member and the new referral.

• Versatile Reward Types: select from gift cards, cash payments, coupons, or custom rewards to match your audience’s preferences.

• Trigger Conditions: automatically create rewards based on specific actions from your system of record, CRM or e-commerce platform.

• Reward Delivery: decide to issue rewards instantly, review them first, or set eligibility rules (i.e., 30 days after purchase)

For more details, check out our support articles on reward rules and common reward structures.

🛡️ Prevent annoying reward issues before they start

Ensuring program integrity is essential to its success. It’s helpful to align your business sales motions (when sales are captured, money changes hands, return policies) with your referral program. But also use fraud protection features to help you safeguard against fraudulent activities so that only genuine referrals are rewarded.

• Smart Reward Design: only offer rewards after receiving payment or other qualifying action (don’t reward solely on new leads).

• Reward Eligibility - additional reward buffer to ensure all referrals are legitimate (great for companies offering a return policy).

• Advanced Monitoring: automatically detect and flag suspicious activity, such as multiple referrals from same IP address, email, or from blacklisted domains.

For more details, check out our support article on fraud management.

📅 Reward Distribution: Simplify reward management

Managing reward payouts efficiently is crucial for creating positive reward experience and making life easier for the program manager.

• Bulk Review and Issuing: manually review and approve all pending rewards at once (perfect blend of reward oversight and automated fulfillment)

• Automated Scheduling: set up payment schedules to issue rewards on an ongoing basis (once per day, week, or month).

• Digital Ledger + Integrations: manage rewards in Referral Rock (know the who, what, and when) then distribute them directly or by integrating with another system

For more details, check out support article on payouts.

🎓 [Webinar] Referral Rewards Strategy (Dos and Don'ts)

Join us on June 5th at 11:00 am EST or 2pm EST for an interactive workshop diving into the intricacies of referral rewards. If you can’t join live, be sure to register anyway so we can follow up with the replay and supporting material.

We’ll cover:

• 5 biggest reward mistakes and how to avoid

• 9 proven reward strategies and how to implement in Referral Rock

• Reward framework for designing your own reward rules 

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