Loyalty Programs

Every effective loyalty program includes these elements:

  1. Identify the customer behaviours you want to encourage:
    • Purchases with their card
    • Frequency of purchases
    • Amount loaded on their card
  2. Determine the kind of reward you wish to provide:
    • Points
    • Cash value
    • Specific products, items, services
  3. Establish the relationship between behaviour and reward (often a ratio ie; for every $1.00 spent the customer receives 1 point). For example:
    • $1.00 = 1 Point
    • Cash value
    • $1.00 = $0.10 in Reward Dollars

Types of MoneyBar™ Loyalty Programs

There are two kinds of loyalty programs to choose from:

  1. Threshold Rewards Programs: Provide rewards after a minimum amount of business is achieved, or
  2. Instant Rewards Programs: Reward patronage instantly by adding stored value to a customer’s card

Threshold Rewards Program

You can decide at what point customers should receive rewards by establishing Reward Thresholds.

Click here for an example of the Threshold Rewards Program.

Here is an example of how it works:

  1. Choosing a points threshold of 250 points, and using a ratio of 1 point per dollar spent you know that the customer will have to spend $250 before he earns his first Reward.
  2. Next decide what the customer will get for his $250 of business you would have already received. If it is for example 10% (10% of $250) then $25 will automatically be added to his card as stored value to be spent with you later.
  3. A Loyalty Threshold Table like this one will be created to manage your program:

    % Earned Rewards Threshold Reward
    10% 250 points $25
    11% 750 (next 500 points) $55
    12% 1250 (next 500 points) $60
    13% 1750 (next 500 points) $65
    15% 2250 (next 500 points) $75

  4. The receipt below shows this example.
    • A customer makes a purchase of $42.00 earning him 42 points
    • The 42 points puts the customer over the first threshold
    • By surpassing the first threshold he is rewarded with $25 which is added to the top portion of the receipt

Customer point totals continue to grow and each time a customer surpasses a threshold, additional rewards are automatically placed on the card.

Hands Free

There is nothing to track, nothing to remember or write down - and your employees never need to worry about the details. MoneyBar tracks all transactions, tabulates results and reports in real time.

Instant Rewards Program

You can also choose to provide Instant Rewards to customers starting with their very first purchase.

For example, you may decide to grant a cash value Reward of 10% of purchase value. So a customer making a $15.00 purchase would receive immediate cash value on his card of $1.50 to be spent on their next purchase if they choose, or let it accumulate additional value for a later purchase.

Reward Dollars Earned will appear in a separate section of the transaction receipt. In fact the MoneyBar receipt will show two separate account totals:

  1. Near the top of the receipt will be the Prepaid transaction which tracks money loaded on the card and money used for purchases
  2. Below the Prepaid information will be Reward Dollars transaction which shows cash value earned or redeemed
  3. This method of displaying two separate types of transactions helps you sort the cash loaded onto a card from the Reward Dollars that are earned on a card.