This Refersion review explores its unique features and different pricing structures. On top of this, it will also cover the users who are likely to benefit the most from using this platform.
For online business owners, it’s hard to ignore the power of affiliate marketing. Research shows an increase of 6.8 billion in U.S affiliate spending by 2020.
Sounds impressive, right? But what is affiliate marketing anyway?
Affiliate marketing is a performance-based marketing strategy. In other words, you hire people to bring you customers and only pay them when a conversion happens. This gives your brand more exposure and opportunities to be in front of more people.
In addition, there are four key players in affiliate marketing. They include the merchant, affiliate, customer and the platform.
The merchant is the brand that makes the products or services. They pay affiliates to promote their products and drive sales.
The affiliate is the marketer or the publisher who earns a commission from each sale they make. They can sell tangible products or software. They can also encourage sign-ups to an online course.
On the other hand, a customer is a buyer found in social media, product website, blogs, or forums. They buy through the affiliate’s influence.
Then there is the affiliate platform that essentially links merchants and affiliates. Apart from helping them find each other, these platforms automate processes. Moreover, they track affiliate sales and handle the reporting aspects of affiliate marketing.
Let’s now dive into our Refersion review and see what it has to offer.
Refersion Review: What is Refersion?
Refersion is an affiliate management solution that helps you grow sales. It offers affiliate sign-up forms and a place to design different types of offers. You can also calculate commissions and track affiliate sales per conversion.
Refersion Review: Key Features
Let’s get started on what Refersion has to offer. Ready?
Refersion works on the concept of offers. The offers also act as a group of affiliates that belong to the same commission structure. After creating offers, you then start inviting affiliates.
Each offer is tied to a unique registration page and there are two ways to share it. You can embed the form directly on your website. On the other hand, Refersion provides a unique share URL that you could email to an affiliate.
The affiliate will be able to log in to their dashboard once you approve their application.
You can use different offers to segment affiliates on your Refersion dashboard. For this method, you need three key performance indicators (KPIs) for affiliate marketing.
These KPIs include effective earnings per click, average order value and the total revenue per affiliate. These metrics offer a quick way to get a pulse on your performing affiliates to track your ROI.
Refersion supports three types of commission structures. They include:
- Percentage of sale
- Flat rate
Refersion also allows you to set the cookie days at the offer level. Cookie days is the period of time you allow the affiliate to be credited for a commission once a customer they have referred makes a purchase.
In the affiliate industry, 30 days is the standard period. However, with Refersion, you can choose anything from two days to two years.
Refersion has tracking capabilities for sales by coupon codes, email, and SKUs. These triggers are great for social media platforms.
Coupon codes are quite useful for Instagram affiliates. They are unique to every affiliate such that an order will be credited to an affiliate when it uses the specific coupon code.
On the other hand, affiliates can send an email of a potential buyer. Once the customer makes a purchase, the affiliate is credited automatically. This works best with affiliates who have a network of regular customers.
Lastly, SKU is used when only certain products trigger a commission for an affiliate. This works as Royalty payments. The affiliate is credited each time someone buys a specific item.
Post Purchase Channel
Your best product promoters are the customers who already love your brand. Refersion makes it possible to turn your customers into micro influencers.
The Post Purchase Channel converts customers into affiliates. After the checkout process, you can display a pop-up to promote your affiliate program.
Once they click on the Activate button, the customer automatically becomes an affiliate. Refersion pulls their name and email address from the order they have just purchased. They can even start promoting your products without leaving the page.
Refersion customers get automatic access to the Refersion marketplace. This is an open network of affiliates looking to collaborate with merchants.
Getting your offer listed here is free and brands are listed by category. Refersion marketplace boasts over 8000 affiliates.
To attract the best affiliates, make your offer and profile stand out. To do this, check your competition and what commission rate they provide.
Pitch your brand to affiliates in your offer page by showing them your core beliefs. For instance, show how you make a positive impact on the world. Remember to go beyond monetary incentives as you test different offers.
Refersion provides two ways to pay commissions owed to affiliates. For starters, it has a PayPal integration that makes it easy to pay affiliates with one click of a button.
Secondly, you can pay affiliates using the Gift Card option. It sends gift card emails to your affiliates in your backend and marks the affiliate as paid.
Integrations with platforms
Refersion seamlessly connects with the following ecommerce platforms:
Furthermore, you can use the Refersion API for custom integrations with unsupported platforms. The only caveat here is that the feature requires a bit more coding.
Some popular tools that sync with Refersion to boost its performance include:
- Bold Commerce
- Google Analytics
Furthermore, Refersion works with agencies that help you customize solutions. They include Electric Eye and ShopElf.
Are There Any Drawbacks?
Even with its incredible features, Refersion has its fair share of disadvantages. First, you might need to hire a developer to help you out with the backend coding.
Similarly, like most affiliate marketing software, Refersion does not offer cross-device tracking. Some customers can make the same transaction using multiple devices.
Refersion Review: Pricing
Let’s look at the pricing plans available at Refersion for you to choose.
The Professional plan costs $89 per month. It tracks up to 130 affiliate orders along with unlimited affiliates and visits.
The features you can expect on this plan include:
- Everything in the Starter plan
- Custom reports
- Sales tracking with coupon codes, emails, SKUs
- Commission setting by product or SKU
- Integration assistance
The Enterprise plan uses custom pricing for its charges. Besides this, it comes with unlimited affiliate offers each month. Apart from this, the features you get from the plan include:
- Everything in Professional plan
- Developer support for integration
- Content migration
- Multi-shop support
- White labeling
- Training support
- Custom development
Refersion Review: Who Should Consider Using Refersion?
Refersion is a great affiliate marketing solution for advertisers. Small, medium and large enterprises can also benefit from this solution. The Starter plan is a decent choice for startups and small businesses.
In contrast, the Professional plan works well for growing small to medium-sized enterprises. This is because they need a more sophisticated referral tracking solution. Equally important, Refersion has more options and royalty deals.
Lastly, the Enterprise option is ideal for medium to large businesses. This is because it supports larger partner channels and referral networks.