Building your customer incentive program for your business

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For starters, they already know your product and have an idea of your offer. And these customers want to feel valued and taken care of. You don’t want them giving the feeling that you’re taking advantage of them, and offering incentives and rewards will surely benefit both seller and buyer.

Here are some ideas to get your rewards system rolling:

Points system

Coffee chains like Starbucks and Tim Hortons have a rewards system where customers can buy a loyalty card, sign up for an account, and use these cards when they buy a drink to rack up points. Once a user reaches a certain amount of points, they can avail a free drink of their choice. Its principle is pretty much straightforward too – get people to spend more so they rack up more points. This system is also used by airlines, termed frequent flier miles.

Member’s club

Some businesses offer customers where they can optionally pay and signup to an exclusive club, and have access to member perks like buy 1 get 1 perks, a free drink, lounge access, and birthday perks. In addition, members may also earn double or even triple the points than those of regular customers.

Cashbacks

Often used by banks for debit and credit cards, customers are treated to a cashback once they reach a threshold amount of spending. For example, Bank A gives 10% to customers for every USD 1,000 purchase. As an additional incentive, customers may also get a freebie such as a cup of coffee from an affiliated business.

Gift vouchers

These are prepaid retail cards or certificates which the customer can redeem at a later time. Gift cards are also used as corporate event giveaways.

Receipt survey

Satisfaction receipt surveys are given out to customers who have completed a transaction, and respondents complete an online survey which usually contains satisfaction questions. Once the survey is completed, the customer is presented with a validation code, then presents the code together with the receipt back to the store where said customer can claim a freebie or gift card.

What about you? Does your business have a customer incentive program especially for repeat customers? How would you incentivise loyal customers?

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