Types of Loyalty Programs we support
Earning Based Programs: Customers can unlock rewards and incentives that they have earned through their purchases/visits, meaning their overall engagement with the brand, in the form of points. Industries that have a vast number of customers who make small purchases in every transaction would prefer these kinds of programs to convert more and more customers into regular shoppers by offering them incentives, whose value is derived from their engagement directly.
Tier Based Programs: These programs help customers earn additional benefits as they move up over other less engaged/loyal customers. Since getting into a higher tier is based on purchases/visits, the more loyal the customer is, the higher their tier is and the better their benefits are. These programs work for every industry, but would have significant impact on industries where a quality experience is the need since the purchases can be of high value and not very frequent.
Gamified Loyalty Programs: These programs bring out the competitiveness and interest in customers that a plain loyalty program might not. These can be posed as challenges which the customers can pass to earn stamps or badges, which may or may not have monetary value, but always do have a status attached to them, so the customers can have a feeling of exclusivity. These programs also help in community building and hence, organic marketing and growth. Gamification adds a fun element to the customer experience which can tend to be plain otherwise, hence not generating enough attention or interest from customers.
Coalition Based Loyalty Program: These programs are made to combine incentives from two or more brands to customers in a single transaction. This helps the brands as this can lead to increased revenues for all parties involved and also help split the burden of the incentive costs among them. These programs include the ones based on tender modes, for example when customers get an additional discount when a particular card is used to pay for the products purchased from a retailer.
Rewards Based Loyalty Program: These programs are designed to reward customers in the form of benefits/incentives out of the custom designed rewards catalog instead of straight discounts and can help generate interest from customers.
Referral Based Loyalty Program: These programs are designed to increase revenues for the brand through word of mouth referrals while creating extra benefits for customers for their referrals. If the product and loyalty program are up to the mark, these programs can create a lot of organic reach which results in a lower Cost of Customer Acquisition.
Conglomerate Loyalty: These programs aid the large corporations that would want to set up multiple loyalty programs for all the organizations under their umbrella to better cater to the respective customers of these organizations as keeping all organizations with one particular kind of program might not suit the strategies adopted by them according to their industries.
Updated 10 months ago