Loyalty Level

Introduction 

iVendNext Loyalty is a comprehensive points and rewards application designed to enhance customer acquisition, engagement, and retention. It is part of the iVendNext Retail suite and offers a flexible system for managing loyalty points, which can be accrued through purchases, visits, or other activities. These points can be redeemed for various rewards, such as discounts or gift items, across different channels.

Loyalty Levels 

Many loyalty programs utilize tiered levels to incentivize and reward customers based on their engagement and spending. These tiers are designed to encourage customers to increase their interactions with the brand in order to unlock more valuable rewards. Here's a breakdown of how these levels typically function:

Entry-Level Tier:

This is the starting point for all customers. They can earn basic rewards such as small discounts or points for each purchase.

Middle Tier:

Customers who spend more or engage frequently can progress to this level. They are entitled to better rewards, such as larger discounts, exclusive offers, or early access to sales.

Top Tier:

This tier is reserved for the most loyal and high-spending customers, providing them with the best perks, including significant discounts, free products, or VIP experiences.

Steps to create a Loyalty Level in iVendNext 

Loyalty tiers are designed to encourage customers to increase their interactions with the brand in order to unlock more valuable rewards. In iVendNext we call them Loyalty Levels. The steps to create a Loyalty Levels in iVendNext are explained below:

Navigate to: Home > Retail. Then under the Loyalty Program section click on the Loyalty Level shortcut.

This should take you to the Loyalty Level List View screen. 

Click on the Add Loyalty Level button. This will take you to the New Loyalty Level screen.

Fill in the required information including the mandatory fields on the New Loyalty Level screen. All the mandatory fields are marked with red asterisks.

Specify a code and description for the Loyalty Level. 

Map the Loyalty Level to a Loyalty Plan. Select the value from the drop down list. In case you don’t see your preferred Loyalty Plan in the list you can choose to create a new one by clicking on the option - Create a New Loyalty Setup

Specify the minimum value to attain this Loyalty Level. 

Once you have filled in the required information including the mandatory fields on the New Loyalty Level screen click the Save button, to save the data and exit the screen. 

This will create a New Loyalty Level and will start to appear on the Loyalty Level List View screen. 

New Loyalty Levels Screen Explained 

The various fields on the New Loyalty Levels screen are explained below:

Code

Specify the code for the loyalty level. A unique code of maximum 20 alphanumeric characters can be entered.

Description

Specify the description for the loyalty level. A description of maximum 100 alphanumeric characters can be entered.

Loyalty Program

Select a Loyalty Program. This field is mandatory.

Points Conversion Factor

Enter the points conversion factor i.e. the rate at which loyalty points can be converted into rewards, such as discounts, free products, or services. This is used to calculate the currency available for redemption.

The Point Conversion Ratio in a loyalty program refers to the rate at which points can be converted into rewards. This ratio determines how much value you get from your accumulated points. The conversion ratio is typically expressed as the number of points required to obtain a certain amount of reward value. For example, a 100:1 ratio means you need 100 points to get $1 worth of rewards. The formula for calculating the points is: Points = Dollars X Conversion Rate

Minimum Value to Attain this level

Enter the minimum points/currency required for attaining/retaining the loyalty level.

Redemption In Multiples Of

This enables the system to redeem points in Multiple of X only where X = Provided Value.

Maximum Redemption Percent Allowed Per Transaction

Specify the redemption percent, which is used to calculate the number of points a loyalty customer can redeem as per defined level. 

Points To Local Currency

Enter the points to local currency. This is used to calculate the currency available for redemption along with Points Conversion Factor.