What are Loyalty Points Worth?
News - 27/09/2020
Whether you are starting a new loyalty program or already have one, you need to know how much your loyalty points are worth. This information is what allows you to clearly show your customers the value of belonging to your rewards program. If you don’t know what your loyalty points are worth, you will have no idea how much money you are giving customers, and they won’t either!
When you give a customer points, you are providing them value with an associated cost. The problem is that the value of a point isn’t immediately recognizable as a specific amount of money or percentage off.
I’m going to teach you how to determine what your program’s points should be worth, and how to decide how many points should be awarded for key customer actions without overpaying. Let’s get to it.