Note: this FAQ is designed for brands who want to get a better understanding of the ioP2P solution
How is ioP2P different from an affiliate scheme?
Affiliate schemes are designed for large scale influencers to make money selling your products; ioP2P is designed to motivate community members to engage with the brand. In affiliate schemes rewards are translated into sales commissions; in ioP2P rewards can be translated into anything (ex.: credits on future purchases, contributions to charity,…). In affiliate schemes affiliates trust that the brands do not cheat on calculating their commissions; in ioP2P the calculation of the rewards is ensured by a 3rd party so there is no cheating on either side. In affiliate schemes you are hiring sales people for your brand; in ioP2P you are rewarding those who love your brand.
How is ioP2P different from a referral program?
Referral programs are 1 off initiatives designed to get people to try out your product for the first time; ioP2P is designed to get people to stay with you in the long run. In referral programs the emphasis is on the short term reward for referring (or following a referral); in ioP2P the emphasis is on the emotional connection with the brand. Referral programs are prone to fraud (ex.: referral refers him/herself to collect the reward); in ioP2P there is nothing to be gained in one recommending the product to oneself.
Most of my sales are done via physical stores, is ioP2P also for me?
Most definitely YES! ioP2P allows you to reward anyone who drives sales regardless of whether they have actually performed the sale. Does the sentence "sorry, we do not have your size. Please come again some other time" ring a bell? With ioP2P the physical store can refer the customer to an online purchase order fulfilled from the central warehouse and still collect some commission so you both win.
How do my community members know how many orders I have generated with my shares?
Your community members will receive periodically an email containing the summary of the orders from your referrals as well as the credit you have accrued. If they want to know that info beforehand they can email the store and you can send the current balance by email.
Can I block people from getting the rewards?
Absolutely! Our application is designed for you to manage your community as you see fit. You may want to block wannabe fraudsters or people who do not share your values.
Can I reward different people differently?
Yes! It's all part of your "community management". For example, you may want to differentiate "loyal customers" from "ambassadors" or encourage your employees to actively promote your brand by creating a rewards scheme for them. You decide!
Can I make special rewards for specific products?
No. Please note we have designed ioP2P to encourage your community to engage and spread the word, not for you to "dump" old products or slow moving ones. If you need to do that (we all have to at some point...) we suggest you create a sale or some special promo. But do not trick your community into doing that for you.
What if the purchases using a shared link are returned?
We have designed a clawback mechanism that keeps the rewards value aligned with how much was actually paid by your customers. If the order is refunded (fully or partially) the rewards given will be taken back and aligned with what was actually paid.
I know a customer has made a purchase but the community member has not received the credit yet. Why?
While the new customer may receive an immediate automatic discount at checkout the rewards take a little longer to come through. This is because the new customer may return and/or get a refund for some reason and the rewards are based on the actual amount of the purchases after refunds. There are also some fraudulent characters around and we need to make sure the rewards are given to real people with real passion for the brand.
Does the purchase need to be done in the first session the link has been followed for the rewards to be given?
No. As long as the new customer has followed the link once he will get his immediate discount (and the community member his/her rewards) as long as the same browser and same device is used. Remember: ioP2P is not an affiliate scheme where you hire celebrities to endorse your products and pay them a commission if they generate sales in the next few days. ioP2P is for people who really care for your brand and are in it for the long term, not to help you meet the targets of one specific quarter.
What if customer does not make a purchase after following the link?
Don't worry! As long as she has followed the link at least once we will know she is coming from you and both of you will get your rewards. Even if she makes her purchase months later. The only thing you have to remember is that she must do it on the same device and using the same browser she used when following the link.
Can the credits be used at physical stores or markets?
Typically the credits are to be used exclusively at the online store or paid out as commission. But depending on the sophistication of your ERP and systems integration you may be able to offer other alternatives.
Can my customers exchange their credits for cash?
At this moment all the credits accrued have to be used as discounts in future purchases on your online store. But there is nothing preventing you from using the tool calculate rewards that, for example, are subsequently delivered to a charity. You could also decide to payout the credits as cash.
Can I customize the UX to tailor my brand image?
Yes! The ioP2P widget is designed to take the look and feel of the theme of your store and we have included some parameters that are enable you to tailor it to your brand. If you need more than what is currently available let's discuss and see what we can do.