How to set your Locorum marketing budget

Select program type, marketing budget, rewards split, and typical transaction value to start rewarding your clients for referrals and hires.

1. Program Type: Choose between "Variable" and "Fixed." "Variable" means the budget depends on the transaction value, while "Fixed" offers the same reward for all transactions.
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2. Marketing Budget: Define a percentage (e.g., 20%) that will be given back to the customer. This budget will be deducted from the transaction value. Please note: For real estate agents and mortgage brokers, the marketing budget will be deducted from the average commission value.

3. Average Commission (Real Estate Agents and Mortgage Brokers only): Input your average commission. The marketing budget percentage will be calculated based on this value.

4. Rewards Split: Determine the split for rewards distribution. For example, you can choose 50% for the referrer and 50% for the person who hired the business or any other split that fits your business model.

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5. Set Maximum Budget: Optionally, set a cap on the reward amount if desired.

6. Typical Transaction Value: Enter the typical transaction value. This figure will not influence the rewards but will provide an estimated earning potential for users.

By configuring these parameters, your Locorum marketing budget profile will be set up to manage the reward system effectively based on your business model and preferences.