Overview

Rewards enable organizations to remunerate customers for their loyalty and provide them with an incentive to repeat their business.

Rewards can be converted into cash and redeemed at the customer's discretion or subject to conditions. This guide aims to explain how CRM.COM modules interact and provide a comprehensive solution for managing a customized rewards model.

Rewards Management in CRM.COM

Several CRM.COM modules interact to provide a comprehensive rewards solution.

Reward programs at a glance

The capacity to quantify the results of a promotional rewards campaign is crucial for its success. The Rewards Admin board consists of a single interface, which displays insightful data and key metrics, including:

The number of active participants
The most popular offers
The total awarded amount
The total amount redeemed.

Setting up a rewards model and available offers

Reward schemes, offers, and types are three fundamental concepts used in configuring a rewards model.

Reward schemes are used to group offers and keep track of eligible participants. One or more reward schemes can be set up in order to accommodate complex business strategies.

Reward offers define the amount of an award, as well as the conditions for receiving and spending it (such as a specific product, time, and place). Award and spend conditions can be defined for each offer. For example:

Participants living in London can be awarded for visiting a specific restaurant during a weekday and spending over £100 (Award condition).
Awards from a specific offer can only be spent during weekdays between 9:00-13:00 on cocktails in a specific restaurant (Spend condition).

Reward offer types are used to cater for distinct marketing goals. For example, different offer types can be used to award participants for:

Friend referrals
Making a certain number of purchases in one month
Birthdays or name days
Providing all their details
Being loyal subscribers.

The Rewards Admin page is used to set up schemes and define offer types. Agreement rules can be customized to regulate how rewards are handed out and spent and to determine the percentage contribution of each partner merchant towards the rewards they issue. (A separate agreement can be set up for each reward participating merchant).

Reward offer features that can enhance the effectiveness of a marketing campaign and increase sales include:

Awards can either be spent directly as an instant discount or saved it in a wallet.
Awards can be defined as a specific amount or as a percentage of the purchase price (of individual items or of the total).
The validity period can be defined on an offer (e.g., the Christmas season).
The period during which an award can be spent or the date on which it expires can be defined.

Reward Offers

Utilise Free Capacity: Used to reward participants for purchases (possibly of a specific product) made at a specific date/time.
Reward Sign Ups: Used to award new reward participants.
Reward Referrals: Used to award existing participants for referring new participants.
Increase Revenue, Transaction Based: Used to reward participants based on the value of their purchase transactions.
Increase Revenue, Product Based: Used to reward participants based on the value of their purchased products.
Reward Loyalty, Transaction Amount Based: Used to reward participants based on the value of purchase transactions within a specific period.
Reward Loyalty, Transaction Number Based: Used to reward participants based on the number of purchase transactions within a specific period.
Reward Loyalty, Transaction Item Quantity Based: Used to reward participants based on the number of purchases products within a specific period.
Reward Behavior: Used to reward customers for social media activities and website visits.
Reward on Birthday
Reward on Nameday
Reward Subscription Maturity: Used to reward participants for subscriptions that remain effective and uninterrupted over a specific period.
Reward Personal Data Completeness: Used to reward participants for a complete set of personal data information.
Reward Achievements: Used to award participants for an accomplishment.
Reward Financial Achievements: Used to award participants for an accomplishment of a financial nature.
Reward Financial Statement: Used to award participants for reaching specific business objectives, measured through financial statement customer events and their related key performance indicators (KPI).
Just Money: Used to award customers based on common business characteristics determined by one or multiple segments.

Registering participants

To register for reward schemes and participate in their respective offers, customers must sign up in CRM.COM as rewards participants. Each participant is associated with an accounts receivable and a wallet. The accounts receivable is used to identify the customer in CRM.COM and the wallet is used to keep all the awards and spends registered in the system. The wallet is credited every time the participant is awarded and debited every time the participant spends an awarded amount.

Participants can access and manage their rewards account through a mobile application or website. An access token is required to authorize participants in CRM.COM and gain access to reward accounts.

Awarding participants

A participant is awarded when conditions set out in the reward offer are met (through actions or provided information). Awards are issued either instantly (e.g., on purchase) or subsequently (together with other participant actions). Award transactions fund the wallet of the participant and register the awards. The principal criteria used in the evaluation are:

Registered information: Awarded through an ongoing evaluation process, exclusively (e.g. a name day or birthday).
Customer events: Financial and marketing events performed by customers outside CRM.COM. Events can include actions such as a visit to a specific website, a purchase from a shop, a 'Like' on a Facebook page or a referral to a rewards program. Customer events are registered in the system for additional processing and rewarding.

Customer Events

Customer event types include:

Purchase: Track purchases that take place in external systems.
Referral: Track referrals.
Social Media: Track Facebook 'Likes'.
Web: Track website visits.
Achievement: Track a form of success. E.g., being one of the first 100 customers in a new store.
Financial Achievement: Track success of a commercial nature. E.g. spending a predetermined amount of money using a specific card.
Financial Statement: Track events in relation to key business objectives. E.g. spending a predetermined amount of money within a period.
Spend Request: Track the spending of awards.

Redeeming of awards

Participants can redeem their awards by spending wallet funds, either at their own discretion or subject to offer conditions. To this end, a spend request (customer event) is logged in CRM.COM. Provided there are sufficient funds in the wallet of the participant, a spend transaction is created, which deducts money from the wallet of the participant and registers the award redemption.

Multi-partner rewards platform

The multi-partner reward platform can be configured to support the needs of organizations involved in diverse business activities. The platform enables the user to:

Set up reward schemes and share reward offers and participants with partners across diverse fields of business.
Define the amount that each partner must contribute to the platform (as a percentage of the total amount awarded to reward participants).
Debit or credit partner accounts depending on their contribution.
Simultaneously set all partner groups with identical contribution rules.

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