Unlock Customer Loyalty with Voucherify
Unlock Customer Loyalty with Voucherify
Table of Contents:
- Key Concepts of Building Point-Based Loyalty Programs 2.1 Earning Rules 2.2 Tiering 2.3 Rewards 2.4 Notifications 2.5 Customer Cockpit
- Creating a Loyalty Campaign with Voucherify 3.1 Naming the Program and Setting Auto-Update Mode 3.2 Setting the Time Frame and Loyalty Card Generation 3.3 Creating Earning Rules 3.4 Setting Up Rewards 3.5 Building Tiers 3.6 Setting Up Notifications 3.7 Adding Metadata 3.8 Reviewing and Activating the Campaign
- Testing the Loyalty Program as a Customer
- Monitoring and Managing the Loyalty Program in the Dashboard
Introduction: Why Loyalty Programs Matter
Loyalty programs can be powerful tools for businesses to retain customers, drive repeat purchases, and foster brand loyalty. In today's competitive market, attracting and retaining customers is crucial for success. Implementing an effective loyalty program can give your business a competitive edge and help you build long-term relationships with your customers. In this article, we will explore how Voucherify's loyalty solutions can assist businesses in building and managing successful loyalty programs.
Key Concepts of Building Point-Based Loyalty Programs
Building effective point-based loyalty programs requires a solid understanding of key concepts. In this section, we will discuss the following concepts:
2.1 Earning Rules
Earning rules are at the heart of any loyalty program. They define the actions that customers must take to receive loyalty points and rewards. Voucherify offers three types of earning rules: based on customer segments, order history, and custom events. These earning rules can be further customized with additional limits and conditions, allowing businesses to create unique loyalty conditions tailored to their needs.
Tiering functionality allows businesses to create different levels of membership within their loyalty programs. By mapping various earning rules and rewards to each tier, businesses can incentivize engagement from program members. For example, businesses can create a VIP tier that provides all loyalty rewards for half the usual number of points. While tiering is optional, it adds gamification and engagement to the loyalty program.
Voucherify provides the flexibility to offer various types of rewards in loyalty programs. Digital rewards, such as discount coupons, gift card credits, and loyalty points used as cash, are handled internally by Voucherify. On the other hand, material rewards, such as physical products, require additional development work as Voucherify does not handle product delivery. Businesses can synchronize their products with Voucherify to offer material rewards as part of their loyalty program.
Notifications play a crucial role in keeping customers engaged with the loyalty program. Voucherify enables businesses to send notifications to customers at significant moments, such as when they join the program, when they earn points, or when they redeem rewards. Notifications can be sent through various channels such as email, SMS, and integrations with platforms like Braze, MailChimp, and ActiveCampaign.
2.5 Customer Cockpit
Voucherify provides a customer cockpit feature, which is an individual customer space where customers can track their loyalty score, referral codes, and owned incentives. Businesses can easily share links to fully branded cockpits, allowing customers to exchange loyalty points for rewards on their own. Customer cockpits can be further customized using Voucherify's API endpoints, enabling businesses to integrate loyalty views into their customer touchpoints.
Creating a Loyalty Campaign with Voucherify
Now that we've covered the key concepts, let's dive into the process of creating a loyalty campaign with Voucherify. This step-by-step guide will walk you through the process, from naming the program to activating it and monitoring its performance.
3.1 Naming the Program and Setting Auto-Update Mode
To start creating a loyalty campaign, you need to name the program. Additionally, you have the option to enable the auto-update mode, which generates new loyalty codes automatically if the initial batch runs out. This ensures scalability and provides smooth onboarding for new customers.
3.2 Setting the Time Frame and Loyalty Card Generation
Next, you need to define the time frame for the loyalty program. You can choose to run the program indefinitely or set specific start and end dates. Voucherify allows customization of the program's activity time, such as active days or loyalty card expiration. You can also generate loyalty card codes automatically, ensuring unique codes for each customer.
3.3 Creating Earning Rules
In this step, you will create earning rules that define the actions customers must take to earn loyalty points. Voucherify offers three types of earning rules: based on order status, custom events, and customer segments. Each earning rule can have additional validation rules, such as setting a minimum order amount or requiring specific conditions for certain events.
3.4 Setting Up Rewards
Voucherify provides the flexibility to offer various types of rewards in loyalty programs. You can either use existing rewards or create new ones from scratch. Digital rewards, such as discount coupons, can be exchanged for loyalty points, while material rewards, such as physical products, require synchronization with Voucherify. Pay with Points rewards allow customers to use their loyalty points as a form of payment.
3.5 Building Tiers
In this step, you can create tiers within your loyalty program. Tiers allow you to group customers based on their loyalty points and offer unique rewards and benefits to each tier. For example, you can create a premium tier that offers additional incentives or privileges. Tiers add gamification and motivate customers to strive for higher levels within the loyalty program.
3.6 Setting Up Notifications
Notifications help keep customers engaged with the loyalty program. Voucherify allows businesses to send customized notifications at key moments, such as welcoming customers, notifying them about their points balance, or updates on redeemed rewards. Notifications can be sent through various channels, including email and SMS, and can be integrated with popular platforms like Braze, MailChimp, and ActiveCampaign.
3.7 Adding Metadata
In this optional step, you can add custom metadata to your loyalty campaign. Metadata allows you to add additional information or tags to the campaign. For example, you can add metadata to indicate that the campaign was created by the marketing team or to track specific metrics.
3.8 Reviewing and Activating the Campaign
Once you have completed all the necessary configurations, you can review the summary of your loyalty campaign. This overview provides an overview of earning rules, applied tiers, reward catalog, and other essential details. After reviewing the campaign, you can activate it, and it will be live for your customers to participate in, start earning points, and redeem rewards.
Testing the Loyalty Program as a Customer
To understand how your loyalty program works from a customer's perspective, it's crucial to test it. Voucherify provides a demo store that you can connect to your account to simulate the customer experience. By making purchases, signing up for newsletters, and performing other actions, you can see how the loyalty program rewards and tracks customer behavior accurately.
Monitoring and Managing the Loyalty Program in the Dashboard
After launching your loyalty program, it's essential to monitor its performance and make adjustments as needed. Voucherify provides a comprehensive dashboard where you can track program activity, view customer profiles, and access detailed reports. The dashboard allows you to make real-time changes to your program, such as modifying tier mappings or adjusting time frames.
Building and managing a successful loyalty program requires a thorough understanding of key concepts and utilizing the right tools. Voucherify offers a robust platform for creating and managing loyalty campaigns, allowing businesses to tailor their programs to their specific needs. With Voucherify's flexible earning rules, tiering options, extensive rewards catalog, and comprehensive analytics, businesses can implement effective and engaging loyalty programs that enhance customer retention and drive growth.
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