Every business can benefit from rewarding loyal customers.
This video covers 4 common types of loyalty and rewards programs that you can start today.
- Earn & burn, also known as the point-based loyalty program. This is when customers are encouraged to keep spending with you and in return they accumulate loyalty currency and rewards. This method is simple and works best when the customer sees the reward as a good deal.
- Tiered loyalty & rewards program leverage gamification. Customers are motivated and want to keep spending so they can reach a next level.
- Buy X, get X free program is a traditional approach. When you hit a certain number of purchases, you get something for free.
- Instant reward programs are when customers pay upfront, either monthly or annually, and then get access to their rewards - like free shipping. If you’re considering this program, be sure that you’re offering enough value to justify the cost to customers.
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