Sell more with the Magento referral program module
Make sure you’ve taken all nuances into consideration when you are making business on the internet because this defines how much money you can make. Unlike offline shops, stores on the internet have more possibilities and features that can make your sales grow. And today we are going to talk about your attitude towards customers. If you are a good seller who loves consumers and who is ready to provide them with the best conditions, you will always get the best results. So, making customers happy is a very essential task. But what does it mean in terms of online shops? It’s a great idea to motivate people so that they will be glad to buy goods from you but not from someone else. It’s equally important to encourage both new clients and old ones to positively affect your sales and conversion rate.
Such a complicated task is definitely for the module we are going to discuss in this article! A simple, user-friendly, and powerful module for Magento 2 can create a perfect referral program for you with no effort. This will make people buy more and tell others about your company. Are you ready to get to know more?
Why do you need a referral program?
- Customer retention has improved. Many activities intended to improve the seller-customer relationship include a psychological component that should not be overlooked. It is highly useful to have a true “army” of supporters who are prepared to protect your interests and promote you among others.
- Lead quality has improved. Another important element is the new clientele’s quality. Referral programs are a great way to get warm, qualified leads since people want to promote to people who share their interests.
- A greater involvement rate. As previously said, encouraging people to engage in numerous activities, one of which is social media sharing, is quite helpful. This has a geometric growth pattern, increasing average engagement and driving considerable traffic to your website, both of which are important for your business.
- The retention rate has improved. The first piece of advice you should consider is that it is considerably more profitable to maintain existing clients than to try to acquire new ones. As a result, you’ll be able to spend less while earning more as a result of this. Why? The reality is that everything is founded on trust: people who trust you are always prepared to put more money into your business. The Reward Points add-on gives a fantastic option — a loyalty program — for both parties to secure such favorable scenarios. Points are earned through purchases, social media sharing, and other activities. Customers will be tempted to return because these points can only be spent in your company.
The module itself and how to use it properly
First of all, let’s take a look at how flexible this plugin is. The configuration can be set up as you wish to achieve success as fast as possible. So, here is what will help you along the way:
- Analytics. You’ll find a comprehensive list of all transactions here. In the admin panel, you can easily view a complete history of earned and spent points for each user. Special reports are available for more in-depth research. It’s critical to figure out whether having such a program with your present ruleset is worthwhile. Special reports will provide you all of the data you need to keep track of your whole revenue stream.
- Regulations on Wages To assist you understand how everything works, let’s take a quick look at the list of potential rewards for your clients. It would be pointless to list all of the potential occurrences; instead, we’ve selected a few to demonstrate. As a consequence, you might be able to reward users for things like registering, placing orders, promoting your website on social media, recognizing anniversaries, recommending new customers via a specific referral link, and so on.
- Budgetary constraints are a fact of life. You may, of course, limit the ways in which customers can use their points to redeem them. It’s equally as important as the last one. What are your specific responsibilities? Using this module, you can choose the active time of rules, the expiration, the time of acquired points, the amount of points available for spending (per order), the commodities that consumers may purchase for points, the consumers who participate in the program, and more.
- Rewards administration. Don’t forget to delight your consumers every now and then. When you acquire a large number of points in a short period of time, your loyalty increases by a factor of ten. Points can also be used to make up for errors. Give this user more points if he or she has an issue that your support team needs to solve or can’t solve.
The list of features
The only thing that limits you here is your imagination. In other words, with the referral program Magento offers with this extension you are able to create your own unique ways of encouraging with no difficulties. This means that your store can be unique and interesting at any time:
- Customers who have been inactive for a long period can be reactivated. Make sure your customers know you’re thinking about them. You may either hand them out or utilize the module to reward people who haven’t checked in in a long time. When their balance changes, these clients will be reminded, encouraging them to return and take advantage of unexpected possibilities.
- Instilling a feeling of doom and gloom. Customers should be informed that they only have a certain number of points accessible to them. Customers are told that their points will expire in a week, which encourages them to spend more money with your business.
- Cross-selling. Customers are more likely to buy bundles and goods that should be sold alongside other items if they are rewarded with extra points. This will assist you in developing a cross-selling plan.
- promoting a certain item Standard discounts should be supplemented with extra points-based incentives. This is significantly more profitable since customers will have to return to redeem their points.
- Customers are divided into tiers. Tiers are used to divide clients into separate categories. Because each tier has its own set of conditions, the quantity of points earned and the number of points available for redemption vary per tier. The higher the tier, the greater the rewards to your customers. To progress to the next tier, you must spend more points and make more purchases. This isn’t only a great loyalty program; it’s also a psychological trick to encourage customers to compete with one another and complete an unfinished assignment until they reach the top tier.
- Program that encourages people to recommend others. Referrers should be compensated for their efforts. Thanking existing customers for bringing new consumers to your shop is fantastic, but rewarding them for orders placed by new customers they suggested is even better. This will significantly boost their stimulation! It’s also possible to give something back to the person who introduced you. The referral program increases the chances of new clients staying and bringing in more money than existing clients.
- The User’s Point of View There is a detailed dashboard accessible. With this plugin, you’ll also receive a dedicated dashboard where customers can discover all they need to know about your loyalty and referral program, such as current limitations, levels, points earned, and transaction history. This page has a unique URL that may be used to refer people to it. It is impossible to overestimate the value of a great customer experience. Inform your consumers of all the vital facts regarding your program while they’re browsing your catalog. Ascertain that everyone is aware of what is going on!
- Notifications. Because advertising is so crucial in this sector, make sure your referral and loyalty programs are well-known. You may use the plugin to send out alerts to your most devoted clients, informing them of special offers. You have complete control over what information is given to customers, as well as when, where, and how it is delivered. First and foremost, decide where you want your data to be available to others. It may, for example, be the cart or referral pages. You’ll be able to promote certain products and increase sales as a consequence. When a customer picks an item, for example, you may remind them that there are more like it in your store and that purchasing more would earn them extra reward points. It’s also crucial to keep your customers informed about their account balances and services. It’s helpful since it eliminates the need for them to check the amount on the website.
The Magento Reward Points extension isn’t just a pleasant way to reward your customers; it’s a must-have for anybody looking to advance and broaden their horizons. Having a loyal customer base has two advantages: steady earnings and a safe future. Furthermore, because the add-on is so simple to use, you won’t have to put much effort into it.