It can be difficult deciding but we have an easy way to help you. You know your business better than we do, so have a think to yourself.
Do you have a particular service or product that is popular? Something you sell again and again that is the same price value. It might be coffee, it might be a cut & blowdry, it might be a particular burger. Then stamps are the way to go.
Examples are Buy 7 coffees – get the 8th free, have 4 cut and blowdrys – save 20% on the 5th. Buy 6 classic burgers – get a free milkshake.
Points are designed to reward customers based on how much they spend. They are generally better suited to higher cost items or businesses that sell a large variety of goods/services. We recommend allocating 1 point per pound/dollar/euro spent. A great way to set your points is basing it on your customer’s current average spend.
Use this algorithm to set up your first points reward (in our example we are using a customers average spend of $20)
(Average Spend + 10%) x 4
(20 + 10%) x 4 = 88
In this example, the customer must spend $88 to get their first reward. In most cases, the customer will increase their spend or visits to get their reward, in turn helping to increase your revenue. Get creative, and set up to 10 rewards. Increase the amount of points each time you set a reward and ensure the reward reflects the amount of points set. Then watch your customers average spend increase.