Types of Rewards
You’ll be able to offer a variety of rewards to customers, including discounts, free products, and cash amounts. This creates an attractive and effective digital loyalty program that encourages customers to keep purchasing and stay engaged with the brand in the long term.
How does it work?
Rewards types in a digital loyalty program operate similarly in their general concept but differ in how they are earned and redeemed. Discounts and other rewards are applied directly to a customer upon reaching the required number of purchases. The operation of each reward type involves a set number of purchases determined by the business. This creates a cycle of incentives that motivates customers to continue participating in the loyalty program and staying engaged with the brand.
Benefits of the feature
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Discounts
Offering exclusive discounts is an excellent way to reward customer loyalty. Discounts are in the form of percentages, incentivizing customers to continue shopping and increasing the perceived value received.
Credits or Amounts
Providing credits or amounts for future purchases is a versatile way to reward customer loyalty. Customers can accumulate these credits and then use them within your business to pay for products or services of their choice. This option gives customers flexibility to choose how they want to use their rewards, increasing their perceived value and their commitment to the loyalty program.
Reward Accumulation
Customers accumulate points and/or stamps each time they make a purchase or perform specific actions defined by the program, to obtain rewards at the established consumption levels. Other ways of obtaining rewards are set by the business.
Increased Perceived Value
By offering rewards such as: basic points, plus points, discounts, products, and amounts. As part of its loyalty program, the business enhances the perceived value customers have of their interactions with the brand. This not only attracts new customers interested in obtaining these exclusive rewards, but also strengthens the loyalty of existing customers, as they value the additional opportunities the program provides.
Continuous Engagement and Increased Sales
By offering high-value rewards, the business increases sales volume by motivating customers to make purchases to accumulate rewards more quickly. This boost in sales can generate a steady and sustained revenue stream for the business.
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