Purpose :- 

Business owners can plan for customer retention. Using Loyalty feature in Servquick business owners can retain customers by helping them earn loyalty points on the purchases they make,. These points are accumulated because of, the purchases made by them. The points are redeemed in a sales bill as per the rules defined by the business owner.

In Servquick Loyalty is created and set as below

• Loyalty Rules - Set the rules for Loyalty and redemption in Loyalty master

• Mapping Loyalty to the required customers in Customer master

• Viewing and Redeeming loyalty points earned in Sales bill

Benefits :-

Loyalty programs are a widely used marketing tactic employed by businesses to acknowledge and retain customers. Advantages encompass customer retention, heightened customer contentment, valuable data analysis, and brand endorsement. These programs motivate customers to persist in purchasing from a specific brand by presenting exclusive rewards, discounts, or complimentary items. Additionally, loyalty programs offer valuable customer information and insights that can be utilized to customize marketing approaches. Ultimately, devoted customers are more inclined to become brand advocates and endorse the brand to others.

Real time Scenario :- 

Loyalty programs are marketing strategies used by businesses to encourage customers to keep purchasing their products or services. Examples include frequent flyer programs by airlines and loyalty cards/apps by retail stores. These programs reward customers with additional benefits, discounts, and exclusive offers, incentivizing them to remain loyal to the brand. Loyalty programs are effective in fostering customer loyalty, increasing repeat purchases, and gathering customer data for targeted marketing. Ultimately, they create a win-win situation for both businesses and customers.

Pre-requisites :-

A loyalty program is a marketing strategy used by businesses to encourage customers to keep buying their products or services. To be successful, businesses need to have a clear objective, understand their target audience, select appropriate rewards, have a tracking and management system, and effectively communicate the program. Doing so will help create a loyalty program that increases customer retention, engagement, and sales, contributing to business growth.

Steps need to be followed :- 

Step 1: To set the loyalty, enable the configuration under Settings

Go to Settings->Configurations->Sales configurations

Choose the Loyalty based on Item / Bill / Category

Step 2: To set the Loyalty rules

Go to Masters->Customers->Loyalty->Create loyalty

Step 3: Create loyalty

• Enter the Name of the Loyalty

• Enter the Offer based on Point / Amount

• Enter the Start date and End date for the loyalty. This refers to the dates for which loyalty applies

• Enable the Round off for the loyalty

• Enter the Minimum Redeem days from which the loyalty has to be redeemed. The loyalty points will be redeemed from the no of days of the billing mentioned here

• Choose the locations for which the loyalty has to be applied

Step 4: Set the Rules for adding and redeeming the loyalty

Rules

Enter the Start and End amount for which the loyalty is applicable

Enter the value and the points applicable to the loyalty to be earned

For eg. any purchase between Rs. 10 -100, the customer will earn a loyalty of 1 point for every 10 rupees

Redemption

Enter the start and end points for loyalty

Enter the value to be shown as discount and the points

For eg, while redeeming, for the points earned between 1-10, the customer can redeem Rs.10 for every point

Enter the details and save the data

Customer Master

To  enable the loyalty applicable to the customer

Go to Masters->Customer

Choose the customer and enable the loyalty applicable and save

Sales bill

To redeem the loyalty

Make a sales bill for where the loyalty is enabled for the customer. Add the customer and the items to the cart

Go to More options and choose Loyalty redeem

The Redeemable Points and the amount available will automatically appear. Enter the points to be redeemed in the row Redeem Points and the Redeem Amount is auto calculated based on the redemption rules set. Click on Done to proceed with billing

The loyalty points redeemed will be shown under Bill discount in the bill. Click on Pay and make payment.

Note: The redeem amount should not be greater than the current amount. The balance mount if any after redeeming the points can be paid using different payment options like Cash, Card, etc.

Reports

To view the customer loyalty in reports, Go to Reports->Transaction summary->Customer wise Loyalty summary and Detail reports

Conclusions :-

Loyalty programs have proven to be a successful marketing tactic for fostering customer loyalty and boosting repeat purchases. Studies indicate that these programs have a beneficial impact on customer retention, satisfaction, expenditure, and data gathering. Customers value being acknowledged for their loyalty, resulting in heightened satisfaction levels and greater spending. Companies can utilize this data to enhance their marketing strategies and product offerings, ultimately driving increased customer engagement and loyalty.