What is 'award point' in SAP CEC-MKT-LOY - SAP Loyalty Marketing?

award point - Overview

• Component: CEC-MKT-LOY

• Component Name: SAP Loyalty Marketing

• Description: To assign points to the points balance of a loyalty member account.

award point - Details

• 
  Key Concepts: 
  Award points are a type of loyalty currency used in SAP Loyalty Marketing. They are earned by customers for completing certain activities, such as making purchases or referring friends. Award points can be redeemed for rewards, discounts, or other benefits.
  How to Use It: 
  Award points can be used to incentivize customers to engage with your business. Customers can earn award points by completing activities such as making purchases, referring friends, or participating in surveys. Award points can then be redeemed for rewards, discounts, or other benefits.
  
  Tips & Tricks: 
  It is important to set up a clear and easy-to-understand system for awarding and redeeming award points. Make sure that customers understand how they can earn and redeem award points so that they are more likely to engage with your business.
  
  Related Information: 
  SAP Loyalty Marketing also offers other types of loyalty currencies such as bonus points and loyalty credits. Bonus points are awarded for special activities such as signing up for a newsletter or attending an event. Loyalty credits are awarded for purchases and can be used to purchase products or services from the business.