VIDEO: MyRewards (1/3): How to Grant Reward Points Based on Money Spent

Disclaimer: We recently redesigned our Admin Area. Your store may look different than the one shown in this video, but most click paths were not affected.

 

Transcript

To grant your customers reward points based on the amount of money they spend in your store, go to MarketingMyRewards in your Admin Area and select Points for Cash from the MyRewards Setup drop-down menu.

You’ll need to establish how money spent in your store will be converted into points during the grant step, as well as how points will be converted back into spendable money for redemption. To convert money spent into points, enter a whole number in the Points Earned per Currency Unit field. For example, if you enter 10, the store will grant each customer 10 points for every subtotal dollar they spend. The same principle applies if you sell in pounds sterling, euros, or any other currency. Note that tax and shipping costs do not earn reward points.

To specify how granted points are converted back into spendable reward money, enter a whole number in the Points Redeemed per Currency Unit field. For example, if you enter 200, the redemption of 200 points creates one reward dollar. A customer who spends 100 dollars will receive 10 points for each dollar, or 1000 reward points. The customer can redeem those points for 5 spendable reward dollars, or one dollar per 200 points. Since the customer receives 5 reward points for every 100 dollars they spend, they’re essentially receiving a 5% reward rebate on all purchases.

There are countless ways to structure your rewards points, so you can make it as simple or as complex as you like. Before you decide which values to use, keep in mind that the system doesn't use rounding and doesn’t grant points in smaller increments than the value you designate in the Points Earned per Currency Unit field. Using the values from our example, a purchase of one dollar results in the same ten-point reward as a purchase of one dollar and ninety nine cents, and a purchase of two dollars results in a twenty-point reward.

The remaining three fields in the Redemption section allow you to define restrictions on point redemption. The Minimum Points Required to Redeem field allows you to specify a value larger than the Points Redeemed per Currency Unit value. For example, if you enter 400 here, a customer must accrue at least 400 reward points before they can redeem their rewards.

By default, points are granted to a customer's account as soon as they've been earned, but Time Until Rewards Are Redeemable allows you to specify a number of days before earned points are granted. For example, if you enter 30 here, customers won't be able to redeem the points they've earned until 30 days after their purchase.

The Time Rewards are Redeemable feature lets you set an expiration on granted points by specifying a number of days the points can be redeemed after they've been earned. The default value is 365, meaning that points expire after one year.

Note that the Points for Cash program doesn't inform customers of the points they earn, so you need to communicate the details about your Points for Cash program manually. Otherwise your customers won't be aware that they've earned points, and they won't know how to use them.

For information on customizing the storefront side of your program, see our video called "Understanding How Customers Redeem Reward Points".