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Accumulate points from consumer purchases, then use the accumulated points to use the utilities provided by the brand. This activity has long been applied by the "big guys" and has been successful for many years.Accumulating points to redeem gifts is a series of activities in the loyalty program, helping businesses attract more customers, stimulate consumer demand and increase business sales.In this article, we will delve into the importance and practical examples of "accumulating redeeming points" that have been applied by many businesses; From there you can draw some useful lessons for yourself.The importance and benefits of the redemption programSome studies have shown that the cost of acquiring a new customer is usually around 5-25 times higher than reselling to an existing customer. Furthermore, it has been found that your existing customers are spending 67% more than new customers.Based on the above two figures we have seen, to be able to create more loyal customers, businesses need to create loyalty programs that are attractive and attractive to consumers.According to Recommeral Rock, customer loyalty is a concept that assumes a customer's willingness to enter into a business relationship with a brand or company (whether buying their products or services or not. engage in any form of cooperation) over and over. In most cases, it is the result of outstanding rewards programs and delivers the real value they get from your products or services.Here are some key benefits of having a points program:<ul><li>Better customer retention</li><li>Attract new customers</li><li>Cost-effective</li><li>Reviews, testimonials, and other customer-generated content</li></ul>What is the redemption program?The redemption program is a series of activities built on a number of specific rules about redeeming rewards (accumulating points for redemption) from businesses. This program is specially designed to encourage customers to shop regularly and keep customers in the business for as long as possible.Simply put, this program is based on the principle of converting an order value into a score. These accumulated points will be used to exchange for a gift, a product or a membership promotion... depending on the business's goal.The 3 most successful redemption programs in the worldStarbucks<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/a81accb7-1f94-46a4-a271-5c140b36f51c" alt="Ứng dụng Khách hàng thân thiết của Starbucks"><figcaption>Starbucks Loyalty App</figcaption></figure>With Starbucks' Rewards program, with every purchase, consumers get closer to free food and drinks. To be promoted to a Starbucks loyalty member, you need to order or pay using the Loyalty app.Nowadays, the use of Loyalty application has become more popular in the world and in Vietnam. Especially those that are doing business in such industries as Food &amp; Beverage (F&amp;B), Retail, Fitness and Beauty. But Starbucks, they are the leaders in the use of this loyalty application.If your business can implement a Loyalty app, it can be a great way to collect and analyze data (Customer data platform) about consumer shopping, behavior and habits. .That way, you not only make it easier for your customers to order and pay without having to wait or sign up all the time, but you also collect invaluable data for building a plan to increase sales. numbers in the following years.The North Face VIPeak<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/5003c410-c202-45f6-8865-2946eb5b4c0a" alt="Ứng dụng Khách hàng thân thiết của The North Face"><figcaption>The North Face Loyalty App</figcaption></figure>The North Face, the popular American outdoor and apparel retailer, has a VIPeak redemption program that allows its loyal customers to “turn their passion for adventure into real rewards.”The North Face loyalty program allows customers to earn points the traditional way, with every purchase they make. For example, for every $1 you spend on their site, you will earn 10 Top Scores. If you shop at The North Face stores, you'll earn a little less – 5 Points for every $1 spent.Why is The North Face's loyalty program so successful? First and foremost, it does not offer general discounts on used products – it only offers extremely attractive prices for loyal members. Besides, The North Face has the best customer care service in the world.Grab<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/81ecc09d-662b-4f5d-91fa-ddd4b39290d3" alt="Ứng dụng Khách hàng thân thiết của Grab"><figcaption>Grab's Loyalty App</figcaption></figure>Grab is probably a brand that is not too strange for people living in this 21st century. They are a technology platform that has succeeded in transforming the number of traditional transportation models into a unique intermediate technology product.Take a look at how they've run their loyalty program over the years. Corresponding to the amount in each service use, consumers will receive a matching number of points and use it to exchange for the following gifts:<ul><li>Earn more points to level up, get more perks only at those member ranks</li><li>Redeem points for coupons for your next move, delivery or order</li><li>Receive many attractive gifts from Grab's partners</li></ul>A special feature of Grab is that customers' reward points will never expire as long as they are still using Grab. Simply renew your reward points by using at least one service that accumulates rewards on the Grab app every month.SummaryHopefully, the information and examples of the redemption program will help you retain customers as well as gain a certain number of loyal customers. Estuary also hopes that the above article will inspire businesses to create many loyalty programs with their own identity.<a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/services/digital-loyalty-program">Customer Engagement Platform (EngageX)</a> &nbsp;is a program that allows end users to use the loyalty application to interact with brands, receive promotions or refunds, connect online Contact the dealer and place an order.In addition, brands will own data warehouses and management systems, deploy marketing campaigns, and reach consumers quickly. From there, brands can improve customer management and campaign transparency.For more information and to register for a trial of <a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/services/digital-loyalty-program">Customer Engagement Platform (EngageX)</a>, please contact:Ms. Vy Pham,Senior Business Solution ConsultantEstuary Joint Stock CompanySoftware to manage tasks, projects and customers | Customer Care Software | Distributor Management Software | Production Management SoftwarePhone: <a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/vi/services/internal-working-system">0986 799 646</a>Email: phuongvy.pham@estuary.solutions or info@estuary.solutions&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/contact">REGISTER FOR FREE SOLUTION CONSULTATION NOW</a>&nbsp;

Lessons to retain customers from 3 "big guys" in the world

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Accumulate points from consumer purchases, then use the accumulated points to use the utilities provided by the brand. This activity has long been applied by the "big guys" and has been successful for many years.

Lessons to retain customers from 3 "big guys" in the world

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