A loyalty program is a system or program devised by businesses to provide additional rewards to loyal clients. It is a method or tactic used to keep good clients by offering them additional incentives such as cashback, coupons, freebies, and so on.
Types of Loyalty Program Services
There are many different sorts of loyalty programs, but the basic goal of a successful loyalty program is to thank frequent customers and encourage them to become loyal. This aids businesses in establishing a loyal customer base.
1. Point Program
Point systems are the most basic type of loyalty program.When you buy anything or utilize a service, you’ll get points that can be converted to cash.
You may also purchase on the brand’s or company’s website or in-store and receive a certain amount of points based on your purchase level. You can redeem these points while making purchases later.
2. Spend-based Loyalty Programs
Spend-based loyalty programs allow you the opportunity to earn loyalty credits for the money you spend at a business. These sorts of loyalty programs are simple to comprehend since they are innovative.
3. Tiered Programs
Tiered Programs might help you strike the proper mix between achievable and appealing incentives. The purchases you make allow you to rise through the ranks depending on your loyalty.
4. Paid Programs
Paid programs are set up as membership programs in which you are asked to pay an annual or monthly membership fee. It’s quite popular among VIP member’s clubs, where businesses may sell their products to frequent or existing customers.
You can use this system to get access to exclusive discounts, opportunities, and services.
5. Value-Based Programs
Value-based programs are primarily concerned with defining values.
As a result, it is preferred by the businesses to develop loyalty program that are comparable to a point system in which your purchases are transformed into money. By establishing an ethical and solid relationship with you, the brand makes sure that the benefits are related to you on a deeper level.
6. Game Programs
The fundamental idea behind game programs is to turn a client loyalty program into a gaming app. You can get benefits by playing amusing games.
7. Partnered Programs
Partnered Programs are excellent loyalty programs which work through strategic partnerships (i.e., combining a loyalty program with a partnership to expand a business). This allows the brand to genuinely understand you by providing services that go above and beyond your expectations.
8. Hybrid Loyalty Programs
Hybrid loyalty programs services allow you to combine two forms of loyalty programs, such as gaming and tier programs. As a result, once a new game level is finished, you might advance to a new loyalty level.
Participation in this game may require you to make a purchase.
9. Coalition Programs
A coalition loyalty program service forms alliances with a variety of brands or businesses. They make use of these allegiances to increase the value you obtain from the purchases you make.
All of these loyalty programs assist the brands in better understanding your demands, allowing them to develop a fresh approach to appreciate you.
BOUNZ is a Coalition Program that works with a wide range of companies around the country. You are invited to participate in the program and earn BOUNZ with each purchase. Members gain immediate benefits when they spend and redeem BOUNZ points at any partner establishment.
The BOUNZ APP is easy to use, and if you forget your password, you can still collect at Partner stores using your registered phone number, guaranteeing that you don’t lose out on your BOUNZ rewards! BOUNZ awards may be earned with only a few easy tasks. Residents and visitors to the UAE may use BOUNZ to pamper themselves and save money while on vacation.
Register now and start shopping with the only brand that caters to both residents and tourists.