Generating Income with Loyalty Programs
Loyalty Programs continue our series on 5 ways to generate income with your ERP system. Loyalty programs give customers incentives / reasons to buy. They bring customers back so they buy more and buy again.
Loyalty programs provide benefits for both your business and your customers by generating additional income and expressing appreciation to your customers. You can reward your loyal customers by offering free or discounted items and other incentives. For example, offering points for placing orders or spending a minimum amount encourages order building while giving something in return. You can offer points for many more activities that build your business, including these:
- Each dollar spent
- Placing the first order or creating an account
- Buying a specific item
- Spending a minimum amount
- Ordering during a specific time
- Referring a specific number of friends to your website
- Joining a mailing list
- Ordering frequently
- Buying extra points
You can even offer points for sale. There are many, many possibilities. With InOrder, the loyalty earning level for an order can be changed while editing the order.
Points are earned and redeemed by placing an order. When a loyalty award is added to an order, the points are instantly deducted from the customer’s loyalty award account. You can give your customers choices, and redeem points in the form of free merchandise, dollar amounts, merchandise credit, and shipping discounts.
You set the limits. Points and awards may be handled a number of ways:
- Points can be awarded based on dollars or using resolutions based on quantity.
- Award points for the items of your choice.
- Assign earning levels based on customer types and order classes.
- Points may be manually overridden.
- Points are awarded when the order posts.
- Points may or may not expire.
- Identify the awards to offer.
Track point balances and redemptions. Reports list each customer’s loyalty point balance and point redemptions for a date range by inventory item. Customer service reps can view earning details, balances, and access orders/transactions that generated or redeemed points. Customer may view their point balance and history on-line.