Five Major Types of Loyalty Programs

Types of Customer Loyalty Programs When you think about the number of customer loyalty programs that are available from so many different companies, it can be quite trying to keep track of all of them. All too often, people miss on working towards the different loyalty programs that so many different businesses advertise. Customer Reward…

Types of Customer Loyalty Programs

When you think about the number of customer loyalty programs that are available from so many different companies, it can be quite trying to keep track of all of them. All too often, people miss on working towards the different loyalty programs that so many different businesses advertise.

Customer Reward Programs

Essentially, there are five major types of reward programs that are geared for customers. Each of these programs has their beneficial and problematic issues which separately may make them a burden for many customers to keep track.

Reward Point : This is a system that rewards a customer with a point value when something that qualifies has been accomplished. Reward points can be either monetary or non-monetary depending on their structure. This is one of the most common types of customer reward systems as it is used by many different businesses.

Cash Back : This is where you receive a rebate for your purchase that is generally a small percentage of what you originally paid. Most reward programs of this nature are generally 1% to 2% which is applicable on your next purchase.

Stamp Chop : Here, a stamp chop can be provided to a customer based on certain actions that you take. It is similar to the reward point except that you earn a stamp for a purchase and when you collect a pre-selected amount you can turn them in for a free reward.

Privilege Tier Membership : Basically, you get a higher status on your purchases after meeting certain qualifications. So, every purchase from that point entitles you to a discount such as getting 5% off when paying your bill or purchasing certain items.

Vouchers : This is a type of reward that has a pre-designated value. Such as getting a $ 5 or $ 10 cash voucher for a particular product or service. A voucher can be used to purchase a service that you want such as a massage or sometimes a product from a particular company.

How Mobile Customer Loyalty Program App Works for You

By putting all of your rewards strategies into a single customer loyalty rewarding mobile app , you can now keep track of them so much easier for a number of reasons.

First, you can keep them all in one place so that you do not have to search through different drawers to find your cards. In fact, you can eliminate your different PVC gift cards so that you can manage all of your reward and loyalty programs more efficiently thanks to mobile app.

As a brand lover, you can keep multiple brands inside this app and leave behind your stamp card or plastic member card. Instead of overloading your wallet or purse, you can keep all the information on your app. Arguably the best aspect of this app is that it can comprise all types of loyalty programs running them simultaneously or concurrently depending on your needs.