Program types
Cashback
Tiered Loyalty Programs
Points Loyalty Program
Rewards loyalty program
Hybrid Loyalty Program
Gamified Loyalty Program
Coalition Loyalty ProgramCashback loyalty program offers customers a partial cash back for their transactions in the form of a discount they can use on their next purchase. In this way, the brand encourages repeat visits to its point of sale.
Benefits:
1.
High perceived value
2.
High customer return rate
3.
Easy to use
4.
Building customer engagement
In a tiered loyalty program the customers, who make purchases and engage with the brand, advance to higher levels of membership and discover associated benefits. The program allows you to strengthen your relationship with your customers and keep them interested.
Benefits:
1.
Establishment of a long-lasting and gratifying relationship with the brand
2.
Creation of a highly-targeted experience
3.
High barrier to exit the program to prevent loss of customers
4.
Benefit levels differentiate the brand from the competition
Points loyalty program rewards customers for purchases or activities with points that can be exchanged for further benefits or in-kind rewards. The program incentivizes purchases at a single store over the long term and ensures higher loyalty.
Benefits:
1.
Convenient and easy to budget
2.
High perceived value
3.
Easy to use
4.
Incentivized customer identification
In a rewards loyalty program the members receive prizes, discounts or vouchers for subsequent activities recorded on their loyalty card. Attractive prizes are a motivation to make further purchases.
Benefits:
1.
Support for brand building
2.
Easy to manage
3.
High perceived value
4.
Custom-fit customer experience
Hybrid Loyalty Programs allow for any combination of program mechanics. Combining multiple elements can be the key to creating the perfect club member solution that fits your company's business strategy. Introducing hybrid loyalty programs is the optimal solution to encourage as many customers with different tastes as possible.
Benefits:
1.
Wide range of opportunities
2.
Increase in various KPI values
3.
Solutions flexibility
4.
Tailored to customers’ needs and expectations
Gamified Loyalty Program is a popular way to increase customer engagement in a loyalty program. Completing assigned tasks gives the participants a sense of satisfaction and increases purchase motivation, while making it easier for the brand to achieve business goals.
Benefits:
1.
Motivation for periodic actions and activities
2.
Engagement beyond transactions
3.
Building positive experience
4.
Encouraging customers to identify
Coalition Loyalty Programs combine the benefits of multiple brands in one place. This increases the number of customers by encouraging them to take advantage of offers from different outlets simultaneously. The solution reduces service costs and grows the customer database, which is the first step to better personalization of offers and detection of new trends.
Benefits:
1.
Increased number of visits and repeat purchases
2.
Customer identification allows you to recognize the customer at other points
3.
Omnichannel customer profile viewpoint
4.
Higher attractiveness due to integration of multi-tenant offers
LOYALTY POINT is implementing a project with Contribution from European Funds.