Bringing Tiered Rewards to Merchants
Looking to take your rewards program to the next level? PassMarket has launched tiered rewards to merchants as an extension to both new and existing loyalty programs. There are many benefits of offering tiered rewards to customers, but first we’ll explain what exactly a tiered rewards program is and how it works.
What is a tiered loyalty program?
A tiered rewards program is an add-on to your rewards program where customers are given better discounts as they reach different tiers. Two great, popular examples of tiered rewards programs are Delta’s SkyMiles® Frequent Flyer Program and Starbucks’ My Starbucks Rewards™ program. These programs give frequent customers a chance to reach and maintain statuses that offer them better deals.
Why upgrade to a tiered loyalty program?
Any loyalty program is a great way to make a customer a repeat customer. A tiered rewards program offers a customer even more incentive to keep coming back by offering better deals the more often they visit.
Tiers also introduce a sense of accomplishment among repeat customers. When customers reach higher tiers, they are more generously rewarded for their loyalty and achieve a higher status. Most Starbucks Gold level members will be quick to tell you how long they’ve been gold members, how great the benefits are, and how much they love Starbucks. This is the result of a successful tiered loyalty program – creating not only a loyal customer base, but also a passionate one.
Reaching a tier is not the final step; it’s just the beginning. Once a customer reaches a tier, they must maintain that tier. If a customer is required to spend $X to reach a level, they must spend $X annually or monthly to maintain it. This system encourages customers to keep spending over time to continue reaping the benefits.
What are the options?
There are numerous parameters that can be set or adjusted with PassMarket’s tier system. Tiers can be created based on the amount of times a customer makes a transaction or based on the amount of money a customer spends with a merchant. These options give merchants full control over their loyalty program in order for it to best suit their business.
Ready to take it to the next level?
For more information regarding tiered loyalty programs, or to talk about a tiered loyalty system for your business, please contact us here. We’d be happy to discuss all of the loyalty programs we offer to get your business booming.