There are two broad types of loyalty programs supported by Thrive Now:
A] Points:
Points programs are among the most popular types of customer loyalty programs. They're useful because points are easy to earn and easy to redeem.
Customer earns points for performing actions (Eg. Making a purchase OR Visiting a restaurant OR Referring a friend) which can be redeemed in the future for credit toward their next purchase, discounted services, or giveaways.
B] Cashback:
Cash back programs are similar to points based programs.
A customer spends a certain amount to get a certain amount back usually in “cash” that can be used exclusively at a restaurant. They’re very easy to understand and maintain. Since the concept is basically the same as points programs, there’s not much more to explain.
Both Points & Cashback programs could be additionally run as a tiered program.
Tiered Programs:
Tiered loyalty programs offer different rewards based on milestones that members cross. Typically, these milestones are measured in Rupees. The more a member spends, the higher the tier he or she enters.
These milestones can be a great way to increase member engagement because they add levels of exclusivity to the program. Everyone gets the same thing with traditional points programs. In tiered programs, it becomes a status thing.
With each tier comes better benefits. This adds a gamification element. Gamification incorporates addictive elements originally designed for video games into the loyalty program. Things like progress bars and milestones keep customers coming back over and over to earn points. Simply put, they make the program fun. And easy to understand.
Also, since the higher levels provide better benefits, these programs by nature make your most valuable customers feel the most valuable. They know they’re getting rewards not available to everyone.
Tiered programs on Thrive Now can be run as part of either a Points or Cashback program, where the Points/Cashback earned by the customer and incentives available to redeem are defined by the customer’s tier or ‘status’ with the brand
