STEP 1 Type of Vouchers
What is a voucher? It is an alphanumeric code that is verified during the purchase process and converted into a specific benefit for the customer, such as a price reduction or a free product. Vouchers typically come in the form of a bar-code to make them easier to scan at the POS store.
How do vouchers work?
The mechanism of using vouchers varies greatly, as they can serve as a component of a comprehensive automated loyalty program or as standalone initiatives targeting specific groups of recipients.
Type of vouchers
There are different types of vouchers that vary in configuration, usage, and distribution. In terms of usage mode configuration, there are two types:
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Single-use: Each voucher is unique and can be used only once.
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Multiple-use: Vouchers can be used multiple times, for example, one code is common for all customers and offers a constant 20% discount.
When it comes to configuration methods, vouchers can be categorized based on the discounts they offer, including percentage discounts, fixed amount discounts, and category-specific discounts. These precise voucher settings are configured on your side, whereas Synerise focuses on distribution, channel selection, and optimal timing for sending vouchers.
Method of use
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Discount vouchers: Customers receive a percentage discount or a fixed amount discount on subsequent purchases, which can encourage them to make repeat purchases or build relationships.
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Gift vouchers: Prepaid cards that serve as payment for future purchases, allowing customers to select products or services of a specified value.
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Free rewards: Customers can receive a specific product or service for free, which can be used to promote new products or build brand recognition.
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Partner vouchers: Joint offer of rewards or discounts with other partner companies, expanding the reach of the loyalty program and providing additional value to customers.
DOCUMENTATION
More information regarding the technical aspects of voucher implementation can be found in Voucher pools
Next step
Now you know type of vouchers, in the next article we will discuss the implementation process.
