🏷️Loyalty Program
Compounded discounts to build brand loyalty & customer retention
Retaining customers is what this loyalty program is all about. Simply pay to unlock this feature, activate it on any subscription product or service and your customers can get compounded discounts on successful renewals if they have activated a coupon. Not only does this help you build a steady stream of revenue but builds brand loyalty.
Benefits:
Save more money every day, week, month or year as a customer
Predict recurring revenue
Increase customer lifetime value
Increase steady stream of revenue
Build customer loyalty
Increase customer retention
As a merchant you just need to "Activate" the loyalty program on the recurring billing product you wish to sell, however customers will only be able to receive these discounts if they hold enough XGT in their connected wallets to activate a coupon. Once activated, they will receive compounded discounts on every renewal.
For example:
Bob has $25 USD worth of XGT in his connected wallet and now his level 1 coupon is activated, which means he qualifies for level 1 discounts off his subscription renewals
Now he heads to checkout and purchases his new monthly shaving box
As soon as his first renewal goes off, he will get a level 1 discount applied to it
In order to get another/compounded discount off his next renewal, he will need to make sure his USD value of XGT stays at $25 or above to keep his level 1 coupon activated
If his balance falls below $25 then Bob will get the same discount for 1 more renewal transaction, therefore allowing him to top up his XGT balance before his loyalty discount progress is reset on the following transaction
How it works:
Pay $49.99(once off fee) to unlock the loyalty program on all products
"Activate" the Loyalty Program on your subscription in the create section. Once you save your checkout button/subscription, then you will not be able to deactivate the loyalty program as customers would've built up their discount progress.
Discount Calculator: Check what discounts your customers will get over time, based on the starting subscription price and the different subscription coupon levels. You can also view what your revenue stream is based off x amount of subscribers, different types of billing periods and cycles.
Set the Maximum amount of discount your customers can get for every renewal over time. Example: Bob starts a $10 subscription and is now on his 11th recurring billing period. His discount for the 11th renewal is $5 per month and now the rest of his payments will stay at $5. This is because you've set the max discount at 50%, every renewal after this will only be discounted by 50%. Bob is happy because he will continue to pay $5 as long as he always holds enough XGT for the discount level(e.g. $25 worth of XGT in his wallet for level 1 coupon).
Monitor your customers loyalty levels and transaction prices by simply downloading your transactions in management. This allows you to see what discounts they have gotten to date and whether they are actually on a loyalty program or not. If not, then it's the perfect chance to drop them an email and offer them discounts on their renewals
Note: Any products that have the following discount icon on the top left corner in my orders or management, means it has an active loyalty program and customers can get discounts on their renewals if they hold enough XGT to activate a coupon:
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