Choosing your rewards

store_iphone5_fadeawayHave you been trying to decide what types of rewards to offer your loyal customers? With the new rewards store built into LoyalTree, you can choose any of the following three types of rewards:

1) Dollar Off Reward

2) Percent Off Reward

3) Free Item Reward

How do I choose my rewards?

To begin with, create a check list of all your high margin items. Use the 10% rule when deciding how many points it should take to “purchase” that item from the store. For example, if your crab rangoon sells for $10.00, make that item available at 100 points or less (this applies if you offer the standard 1 point per dollar system).

Remember to always incentivize saving points. The more points a reward costs the better deal it should be. For example, giving a $20 discount away at 200 points when you have a $10 discount available at 100 points doesn’t incentivize your customers to save their points. Instead give a $25 discount away at 200, and $10 away at 100.

Lastly, remember to include at least one dollar or percent off discount reward. The goal is to reach ALL of your customers. Giving a dollar or percent off allows them to get something that might not be included in the items you are giving away in your rewards store.

Have fun! Contact support@loyaltree.com if you would like to add/change your rewards!