Loyalty Setup

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.

Features 

iVendNext Loyalty allows retailers to reward customers for their shopping behavior across all channels, enhancing customer retention and satisfaction. Here are some of the key features of iVendNext Loyalty:

Customer Shopping Histories:

iVendNext Loyalty provides visibility into customers' shopping patterns and preferences, allowing retailers to tailor their offerings.

Mobile Notifications:

Retailers can engage customers through personalized mobile notifications, keeping them informed about promotions, events, and special offers.

Digital Coupons:

Customers receive digital coupons that can be redeemed in-store or online, encouraging repeat visits and purchases.

Reward Points:

iVendNext Loyalty enables retailers to structure loyalty programs that reward customers based on their spending behavior across all channels.

Integration:

It can be used as a stand-alone product or integrated seamlessly with other retail applications, including the iVendNext Retail suite

Steps to setup Loyalty in iVendNext 

A Loyalty Program in retail is a strategy designed to award points to loyalty customers. This is done to encourage customers to continue shopping at or using the services of the retail business associated with the plan. The steps to create a Loyalty Plan in iVendNext are explained below:

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

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

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

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

Specify a code and description for the Loyalty Setup. 

Select a value from the drop down list for the following (mandatory) fields:

• Refund Method

• Point Allocation Mechanism

• Redemption Method

• Conflict Resolution Method

• Award Points On

• Special Days

• Point Expiry Method

• Expense Account

• Cost Center 

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

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

New Loyalty Setup Screen Explained 

The New Loyalty Setup screen is split into the following sections. 

• General

• Award Settings 

• Points Expiry Override 

• Customer Special Days 

• Email/SMS Notification Settings 

• Point Expiry Setup 

• Referral Setup 

• Accounting Dimensions

General Section 

The various fields in this section are explained below:

Code

Specify a code for the loyalty program. This code is unique and can comprise of 20 alphanumeric characters or less.

Description

Specify a description for the loyalty program. This description can comprise of 50 alphanumeric characters or less.

Conflict Resolution Method

Conflict Resolution Method is used to calculate the loyalty points/currency, if multiple Loyalty plans are active and/or multiple rows exist within an active loyalty plan. Select a value from the drop down list:

Minimum: 

Minimum points/currency will be awarded to customers from multiple eligible plans.

Maximum: 

Maximum points/currency will be awarded to customers from multiple eligible plans.

Sum Total:

Total points/currency will be awarded to customers for all the eligible plans.

Average: 

Average points/currency will be awarded to customers for all the eligible plans.

Is Default

Check this box if you want to make this Loyalty Program as the default program.

Refund Method

Refund Method is used to set up a mechanism that the Loyalty system will use to roll back the points/currency, when a refund is done at POS. Select a value from the drop down list:

All Rewards: 

Select this option to roll back all points/currency awarded to the customer even if there is a partial refund happening. For example, if the customer had purchased 3 items and was awarded 30 points then all 30 points shall be rolled back even if the customer wishes to refund just one item.

On Pro-rate Basis: 

Select this option to roll back points/currency awarded to the customer on a pro-rate basis. For example, if the customer had purchased 3 items and was awarded 30 points and is now claiming a refund on one item, then the system will roll back just 10 points instead of all 30 points.

Do Not Refund Rewards: 

Select this option for not to roll back any points/currency awarded to the customer on refund transaction.

Points Allocation Mechanism

This is used to determine the rounding method used for the allocation of points. Select a value from the drop down list:

Floor: 

is the minimum points  that can be awarded to the customer. If the criteria for allocation is set as “1 Loyalty Point is allotted for/on purchase of items worth $100,  then on purchase of items worth $120” 1 point will be awarded to the customer.

Ceiling: 

is the maximum points that can be awarded to the customer. If the criteria for allocation is set as “1 Loyalty Point is allotted for/on purchase of items worth $100,  then on purchase of items worth $120” 2 points will be awarded to the customer.

Redemption Method

This is used to determine the criteria using which the redemption of points will be calculated. Select a value from the drop down list:

Current Level: 

When calculating the currency available for redemption, consider the Points-to-Currency conversion ratio and redemption percentage defined for the customers current level only.

FallBack: 

When calculating the currency available for redemption consider the Point-to-Currency conversion ratio and redemption percentage defined for customers loyalty level as per sliding level concept.

Award Settings Section 

The various fields in this section are explained below:

Award Bonus Points on Registration

Specify the bonus points, you wish to award to the referrer on registration of the referee.

Referrer: a person who makes a referral/refers to another (their friends, family and acquaintances). Referee: a person who is invited to a referral/ referred by another.

Include Tax In Award Points

Check this box if you want to award points based on the tax inclusive price. For example, if an item is priced at $90 and a tax of $10 is imposed on it, then if the setting is ON then the points will be awarded on $100 whereas if the setting is turned OFF then the points will be awarded on $90 only. 

Award Points on On Account Tender

Check this box if you want to award loyalty points to a customer if he makes a payment using the On Account tender type at the point of sale. 

Do Not Award Points with Redemption

Check this box if you do not want to award loyalty points to a customer on a transaction in which he has redeemed the loyalty points. Note: If "Do Not Award Points with Redemption" is checked then it will not award points on the transaction where the loyalty points are consumed even though "Award Points on Loyalty Tender" is checked.

Point Expiry Override 

The various fields in this section are explained below:

Points Expiry Override Allowed

Check this box if you want to allow the manager to be able to override the expired points/currency of a loyalty customer within the leased time frame.

Override Points Expiry Date Within (Days)

Specify the number of days ….30

Grace Period (Days) Allowed For Points Expiry Date Override

Specify the number of days …30

Customer Special Days 

The various fields in this section are explained below:

Special Days

Pick a value from the drop down list. You can either select Day OR Week OR Month OR Days Backward Forward.

Email/SMS Notification Settings 

The various fields in this section are explained below:

Email Notification

Check this box to subscribe to the customer for email/SMS notification on the registered email address or mobile number for loyalty events.

SMS Notification

Check this box to send SMS notification to loyalty customers

Email SMS Service Interval In Minutes

Specify the email sms service interval in minutes. This is used to define the number of minutes as interval for sending email and sms notification for loyalty customers. This field becomes mandatory if you tick the email notification field or sms notification field.

Point Expiry Setup 

The various fields in this section are explained below:

Expiry Method

If the user has selected Sliding as Points Expiry Method, then he/she will be required to enter a number (days) in this field. This means points/currency expiry date will be calculated by adding the number of days entered in this field to the transaction date for which customer was awarded points/currency. If the user has selected Fixed as Points Expiry Method, then he/she will be required to enter a date in this field. This means the date entered here will be considered as points/currency expiry date.

Referral Setup 

The various fields in this section are explained below:

Award Bonus Points on Registration

Enter the number of loyalty points to award as welcome points when a customer registers for the loyalty program.

Award Bonus Currency on Registration

Enter the number of currency units to award as welcome currency when a customer registers for the loyalty program.

Award Bonus Points on First Transaction

Enter the number of loyalty points to award when the loyalty customer performs the first transaction

Award Bonus Currency on First Transaction

Enter the number of currency units to award when the loyalty customer performs the first transaction. You will have to click on the Add Row button displayed below the Referral Setup Template to add a new blank row. Click on the Pencil symbol under the Gear icon to open the Editing Row screen. On the Editing Row screen you can specify the required information.

Threshold Points

Enter the threshold point that the referee earns for making the referrer get his award. 

Referrer: a person who makes a referral/refers to another (their friends, family, and acquaintances). Referee: a person invited to a referral/referred by another.

Threshold Currency

Enter the threshold currency that the referee earns for making the referrer get his award. Referrer: a person who makes a referral/refers to another (their friends, family, and acquaintances). Referee: a person invited to a referral/referred by another.

Award Bonus Points

Enter the award points given to the referrer when the referee reaches the threshold points.

Award Bonus Currency

Enter the currency units given to the referrer when the referee reaches the threshold points.

Accounting Dimensions 

The various fields in this section are explained below:

Expense Account

Select an Expense Account from the drop down list. In case you don’t see your preferred Expense Account in the list you can choose to create one by clicking on the Create a New Account option. An Expense Account in an ERP (Enterprise Resource Planning) system is used to track and manage the costs incurred by a business.

Cost Center 

Select a Cost Center from the drop down list. In case you don’t see your preferred Cost Center in the list you can choose to create one by clicking on the Create a New Cost Center option. Cost Centers are crucial for budgeting and financial management as they represent distinct areas or departments within a company where costs are incurred and tracked. Accounting Dimensions help to tag each transaction with different Dimensions without the need for creating new Cost Centers. Dimensional accounting means tagging each transaction with appropriate dimensions like Branch, Business Unit, etc. This allows you to maintain each segment separately, thereby limiting the overall maintenance on GL accounts and your Chart of Accounts remains pure.