For politicians to gain supporters, they need to have and efficiently run a political campaign that will appeal to its existing supporters as well as draw in new ones. Without an effective political campaign, politicians either lose some of their existing supporters or miss out the chance of winning over potential supporters.

This is similar to any type of businesses. For a business to grow and retain its base of customers, having some kind of rewards program will very much help. A loyalty program is an example of a rewards program wherein they come in different types. Check out https://www.youreviewit.com/rewards-programs/ where consumers review various rewards programs. This will give you an idea as what kind of reward programs appeal more to consumers as well as give you an idea on what you need to improve in terms of the rewards and incentives you offer.

Types of Loyalty Rewards Programs

Loyalty is one reason as to why customers always return to you. Building this customer loyalty doesn’t happen overnight. It requires time, effort and budget. Hence, it is essential that you reward your customers so as to make certain you don’t lose them and that your efforts won’t go to waste. A research discovered that growing consumer retention rate by as low as 5% could increase returns by 95%. With that, let’s check out some types of loyalty programs that you could incorporate in your business.

Points Programs

This is one of the most popular customer loyalty program type that is quite effective since earning points is easy and redeeming them is easy as well. This program could be managed by means of a loyalty card or perhaps a mobile app and could be redeemed for credit to discounted services, giveaways, or for next purchase. Since most brands make use of the points program, customers easily recognize this format and understand how it works as well as how to maximize them.

Spending-based Programs

In the points program, points are given to customers for each purchase they make. But how are customers who make bigger spending in a shorter span of time rewarded? The Spend-based Program allows a business/company to acknowledge and reward high-spending customers by providing them certain perks that aren’t offered in the regular Points Programs.

Tier-based Programs

Tier programs is similar to playing a video game wherein you begin at level one and move on to succeeding levels when you have successfully completed all the quest or tasks in that level. Tier-based Programs usually begins with a Points Program. As soon as you have finished the first level of spending, your customers could move to the next tier and have access to better and greater perks and benefits.