Overview

The Referrer Performance Report tracks which referrers and acquisition channels drive subscriptions, active users, investor activity, and AuM across your portfolios. Use this report to measure referral ROI, identify top-performing affiliates, and optimize marketing spend by channel.

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When to Use This Report

  • Measure referral channel ROI and effectiveness

  • Identify top-performing affiliates or partners

  • Track attribution breakdown by portfolio

  • Optimize marketing spend across channels

  • Compare new subscriber acquisition by source

  • Analyze which channels drive actual investment activity

  • Calculate referrer-specific AuM contributions

 

 Field Reference

Field

Description

referrer

Referrer/attribution source for the subscription

SCID

Unique identifier for the smallcase

smallcase_name

Name of the smallcase

plan_type

Flat Fee or AuM

new_subscriptions

First-time subscribers attributed to this referrer in the selected date range

total_active_subscriptions

Current active subscriptions attributed to this referrer as of the selected end date

total_investors

Subscribed users attributed to this referrer who are currently invested

total_aum

Sum of current networth of subscribed users attributed to this referrer

total_completed_subscription_cycles

Completed subscription cycles attributed to this referrer as of the end date

total_subscription_cycles

Subscription cycles that started via this referrer in the selected date range

 

 

How Referrer Attribution Works

Attribution Logic

When a user subscribes, the referrer is captured from:

  • UTM parameters in the URL (utm_source, utm_medium, utm_campaign)

  • Referral codes entered during signup

  • Partner identifiers passed through deeplinks

  • Affiliate tracking codes

 

Attribution Rules

  • First-touch attribution: Referrer is locked at first subscription

  • Persistent: Referrer does NOT change even if user renews through a different channel

 

 

 Frequently Asked Questions

Q: How is a referrer attributed?

  • Based on the Attribution field captured when the user subscribes, typically from UTM parameters (utm_source, utm_medium, utm_campaign) or referral codes in the signup URL.

 

Q: Can attribution change after subscription?

  • No, attribution is locked at first subscription and never changes, even if the user renews through a different channel or clicks a different referral link.

 

Q: Why do I see "null" or blank referrers?

  • If no UTM parameters or referral codes were present when the user subscribed, the referrer field may be empty or show as "null". These are direct traffic (user typed URL directly or came from a non-trackable source).

 

Q: Can I retroactively change a user's referrer?

  • No, referrer attribution is set at subscription time and cannot be changed retroactively through this report.

 

Q: What's the difference between total_subscription_cycles and total_completed_subscription_cycles?

  • total_subscription_cycles: Cycles that started in your selected date range, attributed to this referrer

  • total_completed_subscription_cycles: Cycles that completed as of end date (cumulative, all time)

 

Q: Why is my referrer's total_aum lower than expected?

  • total_aum only counts active subscribers (Status = SUBSCRIBED). If subscribers attributed to this referrer have churned, their AuM is no longer counted.

 

Q: Can I see which individual users came from a specific referrer?

  • Yes, check the Subscription Meta Report and filter by the Attribution field to see individual subscribers from each referrer.