))
Understanding the Features of Tiered Loyalty Program
Manage episode 372364879 series 3446509
Content provided by Retyn. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Retyn or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Tiered loyalty programs(https://www.retyn.ai/program-types/tiered-loyalty ) are a popular way to reward customers for their purchases. It offers rewards in tiers, with the most benefits being offered to those who spend the most. The idea is fairly simple: the more you spend, the more benefits and rewards you will receive. Businesses that use tiered loyalty programs will encourage their customers to start spending on one product or another by offering freebies at different levels of purchase.
Tiered loyalty programs are a great way to increase the brand experience(https://www.forbes.com/sites/sap/2021/04/26/brand-experience-what-does-it-mean-and-how-can-it-be-your-differentiator/ ) for customers. In these types of programs, the benefits will get better as the customer goes up in tier levels. The most common tier system is bronze, silver, gold, platinum and diamond tiers which are all different in their benefits but have higher rewards for every step up they go. The tiered loyalty program will help to divide the customers into segments(https://www.techtarget.com/searchcustomerexperience/definition/customer-segmentation ) according to their behavior, demographics, interests or lifestyle choices. One of the benefits of such segmentation is that it helps the business to analyze and observe customer activities more efficiently.
Tune into our podcast and discover more about how the tiered loyalty program helps the business for building and maintaining its customer base.
13 episodes
Share
