Loyalty Program Currencies

You can set up the loyalty currencies for a loyalty program so that members accrue points when they perform certain activities in the loyalty program.

The Loyalty App offers two types of currencies that you can incorporate in your program structure: 

• Qualifying Points (QPs): Measures a member’s level of engagement in a loyalty program, and helps in assessing a member’s tier for upgrade or downgrade. Qualifying points can be associated with only one tier group. A tier group can have more than one qualifying point.
• Non-Qualifying Points (NQPs) : Points that members earn for their loyalty program-related activities, which they can redeem for rewards.

  Expiration models for non-qualifying points come in one of two types:

  • Fixed: Each non-qualifying point in a member’s balance expires after a fixed period specified for this loyalty currency.
  • Activity: If there’s no member activity for the duration specified for this point type, the member’s entire non-qualifying points balance expires. A member’s inactivity is determined by using the Last Activity Date in the member record.

Important If you rename an existing currency, ensure that you manually update the currency name in the associated Loyalty Member Currency records. If a currency is created after Loyalty Program Member records are created, you’ve to set up a custom process to create Loyalty Member Currency records for existing members. You can set up a flow or a batch process to create member currency records for existing customers whenever a new currency is added to the loyalty program.

• Negative Points
  Members can now use more points than their current balance for redemptions. You can enable a negative balance for the required non-qualifying currencies, and define the negative balance limit for each tier. Enable a negative points balance in a loyalty program to increase member engagement, boost sales, and enhance customer loyalty.
• Escrow Points
  You can wait for a period before you credit points to members after they complete a transaction. You can also specify the number of days that you want to hold members' points in escrow and automatically release the points after the escrow period ends. Qualifying and nonqualifying points can be held in escrow.
• Points Accounting with Traceability and Currency Subtypes
  To manage liability for redeemable points across partners and promotions, automatically link redemption transactions to source accrual transactions by using traceability. After you turn on traceability, use subtypes to define how different types of points are accrued and redeemed, and the order in which they’re redeemed. Track the link between redemption transactions and source accrual transactions by using Traceability Loyalty Ledger records.
• Define Activities That Extend Activity-Based Points Validity
  Define the activities that update members’ last activity date to extend the expiration date of activity-based, redeemable points. Then, clone and use the Data Processing Engine template, Identify and Update Activity Dates for Loyalty Program Members, to update the last activity date of loyalty program members.
• Set Up Points Extension and Reinstatement
  To provide customers more time to redeem their points and to define reinstatement periods for currencies with the activity-based expiration model, create Loyalty Program Currency Extension Periods records. Then, configure Data Processing Engine definition runs to extend expiration, and run the Reinstate Points invocable action to reinstate points.