Reward and customer loyalty programs have proven to be a masterstroke for enhancing customer acquisition and boosting revenue. According to a survey, 84% of customers tend to stick to the brand due to reward or loyalty programs. Reward Programs even bring about a change in the spending behaviour of customers.
“Make a purchase of $100 and earn 5 credits!”
“Spend $500 and get 50 credits!”
These are some of the most common customer loyalty programs that we find associated with different brands.
At Flits, we decided to do something different. With a view to benefiting the merchants associated with us, we have designed a special customer loyalty program known as Flits Reward Program. In this program, we have built a credit system 1 credit point equals $1.
Here’s an overview of the features of our credit system.
Earn Credit Rules:
- Sign Up Credit
Once customers sign up, reward them with some credits.
- Subscriber Credit
When a customer subscribes with your store or brand, they get more credits.
Now, the most interesting rule!
- Credit after every placed order
Let’s say, on placing the first order, one gets 10 credits. For the second order, 20 credits whereas for the third one, 30 credits. Every order placed after the third one i.e. fourth, fifth, and so on, will reward 50 credits.
However, the credit system varies merchant-wise.
Being a merchant, you are provided with the privilege to set the above credit rule as follows:
- You can set the credit system based upon the cart value
- You can set some fixed amount of credit for every order placed
- You can also set percentage credit as per the cart value
Love to get discounts and offers from your favourite brands on special occasions? If yes, we have got you covered.
- Birthday Credit
With this, one can avail exceptional credits on his/her birthday.
As a merchant, it is you who will fix the number of days in which those credits must be used.
Let us consider an example here.
A customer’s birthday is on 15th June. So, a specific amount of points will be credited to him/her on this day. Let’s say, 15 credits.
You have set the number of days in which the customer has to use these points as 2 days subsequent to the customer’s birthday. So, in this case of ours, the expiry date is 17th June. Thus, a customer is required to use these 15 credits by 17th June else it will expire.
- Monthly Credit
Here, the expiry date set is of 30 days.
Suppose, a customer has made a purchase on 10-05-2018. The credits earned with Monthly Credit feature will automatically expire on 10-06-2018.
How about getting credits on providing a review of the product? Interesting, isn’t it?
- Credit for Product Review
The foremost requirement for providing product review is to have the judge.me app. Here, one can provide the review of the product that he/she has purchased and you will grant credits accordingly.
Spent Credit Rules:
Every seller or merchant has the right to customize their own spent credit rules.
- Being a merchant, you are given the liberty to set your own Spent Credit System.
Now, this can be decided upon the cart value or you can even keep it to a fixed amount.
Let’s say, you have set 5% as spent credit rule. A customer has credit worth $100 in his account and he made a purchase of $200. Now, as per the set rule, he can apply only 5% of his credits on the cart value i.e. $10.
In case of a fixed amount credit rule, a customer can spend only the amount of credit you have set. For example, you have set up $10 as fixed credit. So, a customer will be able to use only $10 whether he makes a purchase of $200 or $1000.
- You can also manage the range in which you can decide how much credits will be rewarded for a certain amount of purchase.
For example, you can set a system that those customers who make a purchase up to $500 will be able to spend 50 credits. Those customers, whose purchase ranges from $500 to $1000, can spend 100 credits.
Credit Expiration Tool:
With the help of this tool, you are given the right to remove a customer from the Credit System for a specific period of time.
For instance, 100 customers have received credits in the past three months, let’s consider July to September. Now, if a merchant wishes to withdraw the credits given to all customers in August, he can do so with the Credit Expiration Tool.
With this feature, you can give credits to any number of your existing customers together. You can even manage these credits.
For that, you need to create a CSV file. Remember, you can give credits only to your existing customers listed on the CSV file.
Manual Credit Management:
This feature enables you to add customers to the Reward Program. You can also manually add credit for your most loyal customers or regular customers so that they keep on purchasing from you.
If any fraudulent behaviour is noticed from a customer, you can even remove him/her with the Manual Credit Management function.
You can undergo this step directly from the Flits Admin Customers section.
Credit Spent Option at Cart Page:
If any customer has credits in their account, they will be able to see a checkbox with a message “You have $x credit. Will you like to use it?” on the Cart Page. Once a customer enables this checkbox, his/her Order Total will lessen depending upon the credits used.
For Shopify Plus Owners, this Credit Spent option can be managed at the Checkout page. Here, a drop-down menu will appear which will enable the customer to see the credit rules set by merchants and then select the appropriate option. After clicking on the ‘Apply’ button, the credit will be applied and the Order Total will be reduced.
Quick Round-up of Advantages of the Flits Reward Program
- Customers can save a handsome amount on their purchase by earning sufficient credits
- Customer’s review on different products will increase your brand value
- You can set your own Earn & Spend Credit Rules i.e. it is up to you to decide how much credit to offer and for how much time. Keeping it simple, the ball is in your court.
- In case of any illicit circumstances, you can discard a customer from benefitting from the Reward Program
You will not just see an increase in your retention rate but also your acquisition with this new customer loyalty program.