Referral settings are configuration options that allow users to refer others to your platform and receive rewards or benefits in return.
Referral settings are often used as a marketing tool to encourage users to invite their friends or colleagues to join your marketplace, thereby expanding your platform user base.
Referral settings include options
Referral Credit limit
Referrer Credit
Referee Credit
Referral Booking Percentage
Referral Credit limit
This refers to the maximum amount of credit that a user can use from referral rewards. Once a user reaches the referral credit limit, they may no longer be eligible to use the credits through referrals but can earn as much as they want.
Referrer Credit
This is the credit that a user receives for successfully referring another user to a platform or application. Referrer credits are typically awarded once the referred user signups and confirms it through email.
Referee Credit
This is the credit that a user receives for being referred to a platform or application by another user. Referee credits are typically awarded once the referred user signups and confirm it through email.
Referral Booking Percentage
This refers to the percentage of the total booking value that a user can earn as a referral reward. For example, if the referral booking percentage is 10% and the total booking value is $100, the user would earn a referral credit of $10 for successfully referring another user.
When Will The Referral Amount Apply To The User?
The referral amount will be applied to the users while booking a listing.
When Will The Referral Amount Not Apply To The Users?
The referral amount will not apply to the users when you remove the referral booking percentage.
What Happens When I Remove The Referrer & Referee Credit?
The referral amount will not apply to future users when you remove the Referrer/Referee credit.
Can I Set Either Referrer or Referee or Both Credits?
Yes, you can either referrer or referee credit, or both.
Note:
When you make changes in the Referrer/Referee credit it will only reflect on the future referrer/ referee.
The referrer/referee credit must always be less than the Referral Credit. It should not be above or equal to the referral credit.
Can I Remove The Referral Credit Limit?
You cannot remove the referral credit limit because when you remove the referral credit, the existing user can use their credit to the fullest.
For Example, You have already set the referral credit to $100, and your user has a referral amount of $200. Now your user can only use the referral amount up to $100.
If you remove the referral credit, your user can use the referral amount fully. So it is not possible to remove the referral credit limit.