Few quick tips how to create efficient rewards.
In this scenario use your own product to reduce your own cost for the reward but at the same time showing to clients normal price of the product / service.
- Use Welcome Bonus - it's very good to give a reason to your existing customers to download your digital loyalty app as well as attract New customers and let them discover your place. ( We also call it acquisition fee ) It can be free it can be a good discount. Read more about Welcome Bonus here
- Give your clients a reason to come back quickly ( create reward that can be achieved in 1 - 2 visits based on your middle check )
- Next Step - Reward for 5-6th visit ( something bigger that he should earn this opportunity )
- Final Step 9- 10th visit to your place something big something FREE or a really nice discount for a good product or service.
VS you can try a simple strategy
Use the formula where 1 point = 1 CHF and reward cost is 10% discount from amount client spent ( Ex : 10CHF reward = 100 Reward points
- Welcome Bonus
- 10 CHF off from the check
- 30 CHF off from the check
- 50 CHF off from the check
These are rough figures across all out industries :
Both Scenarios work very good!
Keep in mind with ClientCard - Loyalty is NOT an Expense but a REVENUE - read more in this article