LoyaltyReferralProgram

iVend Retail - Loyalty Referral Program

The iVend Loyalty Referral program is a new feature introduced in iVend versions 6.5 and above, which is used to award existing customers with loyalty points or currency upon the referral of another customer to the business as a new loyalty customer.

There are two parties involved in the Loyalty Referral program which are as follows:

1. Referee: Existing customer that introduce new customers to the business as loyalty customers.

2. Referral: New customers that have been introduced by existing loyalty customers in the business.

Along with the initial benefits for referral there are some recursive benefit conditions that can be configured in iVend to provide some extra points or currency.

Note: The Loyalty program will only be available if the Loyalty option is checked in the Management Console.

Log into the iVend Management Console and navigate to: Administration > System-Initialization > Enterprise > Loyalty (Section) > [Is Active] checkbox

Figure 1 – Enterprise Settings

Business Benefits

The key benefits of the Loyalty Referral program are:

1. To increase sales

2. Create brand advocates

3. Reward existing customers

4. Acquire new customers via reference

5. Converting one time customers to permanent customers

6. Reduce promotional and advertising costs

Business Case

Profit margins from referred customers are substantially higher than without a referral program. Referee customers are more loyal to the business because they will receive rewards for bringing new loyalty customers to the business.

Configuring Loyalty Referral Setup:

Let us see how the Loyalty Referral program can be configured under iVend Retail versions 6.5 and above:

Log into the iVend Management Console and navigate to: Operations > Loyalty > Loyalty Setup – the Loyalty Program screen comes up.

Figure 2 – Loyalty Program

Click [F3 New] to create a new Loyalty Program or [F4 Edit] to modify an existing Loyalty Program. The Loyalty Setup screen should come up.

Figure 3 – Loyalty Setup Screen

Click the [Referral Setup] button – the Referral Setup screen comes up.

Note: The Loyalty Referral setup are the optional settings that can be defined to award loyalty points and currency to referrals on introduction of referees to the business as loyalty customers.

Figure 4 – Referral Setup Screen

Field Name	Description/Activity
Award Bonus Points on Registration	This option provides the facility to award loyalty bonus points to the referee (existing customer) upon introduction of new referrals (new loyalty customers) to the business.
Award Bonus Currency on Registration	This option provides the facility to award loyalty bonus currency to the referee (existing customer) upon introduction of new referrals (new loyalty customers) to the business.
Award Bonus Points on First Transaction	This option provides the facility to award loyalty bonus points to the referee (existing customer) upon introduction of new referrals (new loyalty customers) to the business upon their first transaction made.
Award Bonus Currency on First Transaction	This option provides the facility to award loyalty bonus currency to the referee (existing customer) upon introduction of new referrals (new loyalty customers) to the business upon their first transaction made.
Threshold Points	Threshold Points are the maximum available un-redeemed points that the referral needs to earn in order to make the referee receive their specified loyalty points mentioned in the Award Bonus Points field.
Threshold Currency	Threshold Currency are the maximum available un-redeemed currency value that the referral needs to earn in order to make the referee receive their specified loyalty currency mentioned in the Award Bonus Currency field.
Award Bonus Points	On meeting the criteria defined in the Threshold Points field, the specified points here will be awarded to the Referral.
Award Bonus Currency	On meeting the criteria defined in Threshold Currency field, the specified currency here will be awarded to the Referral.
[Add Row]	This button will add a new row to the Referral setup
[Delete Row]	This button will delete or remove an existing row from the Referral setup
[Ok]	This button will save the changes made to the Referral setup and will close the screen.
[Cancel]	This button will cancel all changes made to the Referral setup and will close the screen.

Threshold Conditions

Along with initial benefits to the Referee upon introduction of new Referrals, there is one more facility available under iVend where recursive loyalty points and currency can be configured. Upon meeting the Threshold conditions, loyalty points or loyalty currency will be awarded to Referee.

Note: You can also configure Multiple Loyalty Referral conditions in iVend Retail version 6.x and onwards.

Figure 5 – Referral Setup Screen

Let us make it clearer with an example as per the settings that we see in the above screen image.

· If the new Loyalty customer (Referral) makes purchases and their available loyalty points reaches 1000 loyalty points or more, then the Referee will be awarded with 10 loyalty points.

· If the new Loyalty customer (Referral) makes purchases and their available loyalty currency reaches $4000 or more, then the Referee will be awarded with $40.

This concludes the KB on iVend Retail - Loyalty Referral Program