Increase Spending with Stepped Rewards

Description

By implementing a stepped rewards strategy, you will be taking advantage of a powerful tool to increase customer retention and revenue that is based on experiences and power up.

Examples of strategic benefits:

• Understanding your customers better: Responses from introducing a certain reward to the next step of the rewards program will enhance segmentation via additional insights of what your customers want.
• Further lengthen loyalty journey: Stepped rewards will be beneficial when special rewards are provided. Customers will see the long-term benefits of staying loyal to your brand as they advance through the rewards / tiers / benefit of your program.

Coming up with and implementing a stepped rewards plan can be daunting, but Memberson has the expertise and experience to help you identify and deploy the ideal strategy for your program.

‍

Concept

Use advanced stepped rewards strategy to drive retention, brand connection and spending. Go beyond simple membership tiers an introduce a stepped rewards strategy.

‍

Execution

1. Define the strategy and the stepped rewards mechanism that will be used
2. Setup notification that will automatically inform a user when they are about to reach a certain threshold, point balance, or when they have just reached a threshold
3. Track purchases from participants in the notifications and tiers
4. Consider to run additional campaigns from time to time to target these members

‍

KPI

• Cost of rewards
• Increase in spending / purchases > 5%

‍

Detailed Execution in Memberson Loyalty CRM Platform

Please contact Memberson for further discussions

‍