Studies reveal that reward expiration is a great way to motivate your customers to buy again and more frequently, thereby increasing your revenue and sales significantly. Not only does the approach boost customer loyalty, but it also plays a key role in your business growth.
Introducing Rewards expiration rule
Loyalty rewards with an expiration date help you increase your repeat sales and also lays a foundation for building a strong brand identity. It develops a sense of urgency, and the fear of missing out (FOMO) motivates the customers to take action promptly. Automizely Loyalty has introduced this feature to empower you to create a sense of urgency among your customers and boost your sales significantly.
Why set an expiration date for your loyalty rewards?
Here’s why you should consider setting an expiry date for your loyalty rewards -
- Develop a sense of urgency - It has been observed in various studies that if there is no expiration date for the rewards or loyalty points, customers are less likely to make a purchase soon
- Encourages customers to come back - If you set a date when the loyalty rewards offer will expire, customers will be motivated to take action quickly and more frequently
- Foster brand loyalty - Offering rewards with an expiry date, benefits frequent and repeat customers, and strengthens brand loyalty among them
- Build a strong brand identity - Rewards with expiration dates help you stay at the forefront of your customer’s minds which build a strong brand identity
- Create new marketing opportunities - Setting expiration date for your reward programs opens new marketing opportunities as you can notify your customers regarding the upcoming expiration date and advertise key offerings
How to set the Rewards Expiration rule?
Setting rewards expiration date with Automizely Loyalty is a seamless and quick process that hardly takes 2 minutes to set up. Follow the given steps below -
- Log in to your Automizely Loyalty account
- Click on the 'Customize' button available on the Home page
- Under the ‘Settings’ tab, you can check the ‘Rewards will expire after’ tab and set the expiry value (number of days) for both ‘Step 1: Rewards for advocates’ and ‘Step 2: Rewards for referred friends’
- Click on the ‘Save’ button to complete the setup
To know more about the reward expiration feature and how to use it effectively, feel free to refer to our help article.
For further assistance, drop a message to our support team, available 24/7 to assist you in every possible way.