The Magento referral program extension — motivation time

Let’s take a look at any online store. What is the most essential part of this business? Of course, customers. Even though there are plenty of different nuances, aspects, and other things you need to know about to become successful, clients play the most significant role in such a business. Without them, you won’t be able to sell goods and earn money even if your shop is perfect in terms of quality and technical side. This means that your main aim is to make people happy and make them want to buy exactly from you. We offer you to think about motivation. Why do they have to be your customers? What can you give them? As a seller, you have to thank your consumers and give them something special. Thus, you will reach your goals and become popular.  

If you are still thinking about how you can encourage customers, then take a look at the extension for Magento 2 that is capable of creating a great referral program and rewarding users for various achievements. This is much easier than you imagine! So if you are ready to get to know more, just continue reading.

Why is it important?

  • The retention rate has improved. The first piece of advice you should take into consideration is that maintaining existing clients is considerably more profitable than seeking out new ones. You will be able to spend less while earning more as a result of this. Why? The reality is that everything is founded on trust: people that believe in you are always prepared to put more money into your business. The Reward Points add-on offers a fantastic alternative — a loyalty program — for both parties to assure such favorable circumstances. Customers receive points for purchases, social media sharing, and other behaviors. Meanwhile, consumers are encouraged to return because these points can only be spent in your business.
  • Customer loyalty is higher. Many activities aimed at creating a pleasant relationship between the seller and the customer include a psychological component that should not be overlooked. It is quite useful to have a true “army” of supporters who are prepared to protect your interests and promote you among others.
  • Improved Lead Quality Another important element is the new clientele’s quality. Individuals like to advertise to people who share similar interests, so referral programs are a great way to get warm, quality leads.
  • A higher rate of engagement. Motivating users to accomplish various tasks, one of which is publishing on social media, is quite useful, as previously said. This works in a geometric progression, increasing the average engagement rate and driving a substantial quantity of traffic to your website, both of which are important for your business.

Possibilities

One of the best news is that you actually have no limits with this add-on. You are free to create your own rewards and ways of encouraging. Anyway, let’s take a look at the features:

  • Cross-selling. Customers will be more likely to buy bundles and goods that should be offered alongside other items if they are rewarded with additional points. This will help you improve your cross-selling strategy.
  • promoting a certain item Some standard discounts should be substituted with bonuses in the form of extra points. This is far more profitable since people will have to return to redeem their points.
  • Customers who have been inactive for an extended period of time can be revived. Make sure your customers know you’re thinking about them! You may either manually award them or utilize the module to reward users who haven’t checked in in a long time. When their balance changes, these consumers will get notifications, urging them to return and take advantage of the unexpected opportunity.
  • Creating a feeling of impending doom. Customers should be informed that they only have a certain number of points. Consumers are notified that their points are due to expire in a week, which encourages them to spend more money on your business.
  • Customers are divided into tiers. Tiers are used to categorize clients into different groups. Because each tier has its own set of criteria, the number of points earned and the number of points available for redemption of each transaction vary. The higher the tier, the better the benefits for your customers. In order to progress to the next tier, you must make more purchases and spend more points. This isn’t only a great loyalty program; it’s also a psychological trick to get customers to compete with one another and accomplish a job that looks to be incomplete until they reach the top tier.

Referral Program

Referral Program
  • Referrers should be compensated for their efforts. Thanking existing customers for suggesting new consumers to your shop is fantastic, but rewarding them for orders placed by new customers they recommended is even better. This will significantly boost their stimulation!
  • Reward the person who sent you the referral. The referral program increases the chances of new clients sticking around and bringing in even more money than existing clients.

User Experience

  • There is a detailed dashboard accessible. With this plugin, you’ll also receive a dedicated dashboard where customers can find out all they need to know about your loyalty and referral program, including current restrictions, their tier, points earned, and transaction history. This page has a one-of-a-kind referral URL.
  • A pleasant consumer experience is critical. Inform your clients of all the crucial facts regarding your program while they are browsing your catalog. Make sure everyone is informed of what’s going on!

Analytics

  • All transactions are listed here. In the admin panel, you can easily get a full history of earned and spent points for each user.
  • Reports have already been installed. It’s important to figure out whether having such a program with your present ruleset is lucrative. Special reports will provide you with all of the data you want to keep track of your total profits.

Configuration and flexibility

Configuration and flexibility

Because of the large number of choices available, you may customize this plugin to meet any demand, ensuring that you will never be unhappy with the results. You have total control over how you want to encourage your clients, including how many points they earn for doing specific actions, how long they have to utilize these points before they expire, and so on. Select the events for which users will be awarded, define the prize, and you’re done. With such freedom, you have a variety of options:

  • Guidelines for Earnings To assist you to understand how everything works, let’s take a quick look at the list of potential jobs for your clients. It’s pointless to list all of the events available; instead, we’ve selected a few to show you. As a consequence, you may reward users for a range of actions, such as registering, placing orders, promoting your website on social media, commemorating birthdays, recommending new customers via a specific referral link, and so on.
  • Spending Restrictions You may, of course, limit the means by which customers can redeem their points. It’s equally as important as the last one. What precisely are you in charge of? Using this module, you can define the active time of rules, the expiration, the time of acquired points, the number of points available for spending (per order), the commodities that consumers may purchase for points, the consumers who participate in this program, and more.
  • Notifications. Because advertising is so crucial in this business, make sure your referral and loyalty programs are well-known. You may use the plugin to send out alerts to let everyone know what you’ve got for your most loyal clients. You have complete control over what, when, where, and how such information is sent to customers. First and foremost, determine where you want this information to be displayed to others. It may, for example, be the cart or referral pages. You’ll be able to promote certain items and increase sales as a consequence. When someone picks a particular item, for example, you may provide a reminder that there are more like it in your store and that if they buy more, they can earn more reward points. It’s also crucial to keep your customers informed about not just your offerings, but also their account balance. It’s practical since it eliminates the need for them to check the amount on the website.
  • Reward Administration. Don’t forget to delight your consumers every now and then. When you get a large number of points all of a sudden, it increases loyalty by a factor of ten. Points can also be used as a kind of compensation. Give this user bonus points anytime he or she has an issue that your support team needs to address or can’t handle at all.

Conclusion

The extension of the referral program for Magento is not just a way to please your clients, it’s an obligatory step for everyone who wants to move forward and broaden the horizons of possibilities. Having a loyal customer base means stable profit and an ensured future. Besides, you don’t have to put a lot of effort into it because the add-on is extremely easy to use.