Frequently Asked Questions

Launching a referral program in your business is super easy. Meet with our team for a consultative demo where we aim to understand your business fully and determine if Locorum is a fit. 

Then you can create your first program in around 15-20 minutes. We're here to support you along the way whenever you need! 

Locorum subscriptions start at $1,200/year for solo-preneurs and range depending on your business needs and how many referral programs you launch. Get in touch with our team for a tailored pricing solution for your business. 

Locorum is tailored for businesses that do not conduct online transactions - meaning businesses who are not capturing online payments like an e-commerce store or mobile app would. If that's your business, you're better off with other solutions. 

If you're in an industry that is paid offline or indirectly (think real estate) then there's no better solution than Locorum. 

Our current customers include contractors, realtors, mortgage brokers, residential developers, financial services and more. 

When your clients are rewarded by Locorum for sending you new business they get a personalized, reloadable Locorum MasterCard. There's no credit check and they can spend it anywhere that accepts MasterCard. 

Plus, when they send you new referrals we reload the same card with rewards. This is one of the reasons Locorum is so "sticky" with clients! Locorum basically turns your network in commissioned sales people for your business.

Locorum was founded in 2019 as a marketing company and as the business evolved we developed our current software solution to provide more value to the businesses we served.

Locorum is the latin word for local. Also used in Genius Locorum which is a minor deity that watches over several places. 

We chose Locorum because we felt it aligned with our mission to support the small businesses that make our communities thrive. 

The short answer is most likely yes, but every industry is different so read the FAQ related to your specific sector or reach out to our team. 

The major factor here is that Locorum is operating a rewards program for your business. You set a budget for a general marketing fee and our Rewards Widget is managed by Locorum. We reward the customer for actions they take on our platform. You are not paying your customers for referrals, you're partnering with an enterprise level referral marketing platform. 

Cash is never passed directly from you to your client/customer for a referral fee. The only time you are rewarding the customer is when you send loyalty Gift Rewards which if your industry is regulated should not be used for referrals. 

Realtors are governed by provincial/state regulations and sometimes brokerage level regulations. The best way to determine if you can use Locorum is to talk to a business advisor on our team. 

Referral Restrictions (Bird Dog Fee)

The strictest regulations typically surround referrals being paid out of transaction fee to a third party. Some provinces/states regulate these agreements be made with licensed parties and disclosed in the transaction documentation. 

This is not what you are doing on Locorum. We are not involved in the transaction in any way and we do not collect any funds related to the transaction. 

On Locorum businesses set and pay a marketing fee - similar to paying for click-based Facebook or Google Ads except you confirm when a "click" occurs or in this case when the user completes the desired action. Locorum incentivize users to take action on the platform and invite friends to join/engage on the Locorum platform. 

We are not in any way participating in a transaction and exclusively reward users for actions on the platform. Rewards are paid on reviews left on Locorum for businesses. 

Advertising Rules

Some provinces/states have regulations about advertising and you should discuss this with your brokerage. In most cases you want to be sure you are not advertising that you are paying for referrals. Firstly, because that's not how Locorum works and secondly it may run you afoul of local regulations. 

In most cases regulations require clear and honest advertisement and require realtors to include your designation and brokerage name in all advertisements. Discuss with your Broker of Record or with a business advisor at Locorum for more info. 

Mortgage Brokers are governed by provincial/state regulations. The best way to determine if you can use Locorum is to talk to a business advisor on our team. 

Referral Restrictions

The strictest regulations typically surround referrals being paid out of transaction fee to a third party. Some provinces/states regulate these agreements be made with licensed parties and disclosed in the transaction documentation. 

This is not what you are doing on Locorum. We are not involved in the transaction in any way and we do not collect any funds related to the transaction. 

On Locorum businesses set and pay a marketing fee - similar to paying for click-based Facebook or Google Ads except you confirm when a "click" occurs, or in this case when the user completes the desired action. Locorum incentivize users to take action on the platform and invite friends to join/engage on the Locorum platform. 

We are not in any way participating in a transaction and exclusively reward users for actions on the platform. Rewards are paid on reviews left on Locorum for businesses. 

Advertising Rules

Some provinces/states have regulations about advertising and you should discuss this with your brokerage. 

In most cases regulations require clear and honest advertisement and require mortgage brokers to include your designation and brokerage name in all advertisements. Discuss with your brokerage or with a business advisor at Locorum for more info. 

RIBO does not vet platforms submitted by third parties; however, no concerns were raised regarding Locorum when we reached out. RIBO provided the guidelines and directed us specifically to the “Air Miles and Rewards from Credit Cards” section of the guidelines. From RIBO Guidelines on Marketing: “It is acceptable for a broker to offer AIR MILES or reward incentives from credit cards in conjunction with the purchase of an insurance product.” Locorum is a pre-paid credit card-based rewards program, falling directly under this section of the RIBO guidelines.

Brokers are also permitted to advertise on platforms such as Google and social media where you set a bid for a click-lead. This is the closest example to Locorum as the rewards program is operated independently of the marketing fee you set. Brokers set a convert-lead marketing fee in their listing. Based on this clear language, and all available information from RIBO, Locorum is suitable for Insurance Brokers.