What is 'grace period' in SAP CRM-MKT-MPL-LOY - Loyalty Marketing?

grace period - Overview

• Component: CRM-MKT-MPL-LOY

• Component Name: Loyalty Marketing

• Description: A period in which points are still valid although the expiration date calculated by the rule builder has passed.

grace period - Details

• 
  Key Concepts: 
  A grace period is a period of time after a customer’s loyalty program membership expires during which they can still redeem their points or rewards. This period is typically set by the loyalty program administrator and can range from a few days to several months.
  
  How to use it: 
  In SAP CRM-MKT-MPL-LOY Loyalty Marketing, the grace period is set in the Loyalty Program Configuration. The administrator can specify the length of the grace period and any other conditions that must be met in order for customers to redeem their points or rewards during this period.
  
  Tips & Tricks: 
  It is important to set a reasonable grace period that will allow customers to redeem their points or rewards without feeling rushed or pressured. It is also important to communicate the grace period clearly to customers so that they are aware of it and can take advantage of it if necessary.
  
  Related Information: 
  The grace period is an important part of any loyalty program and should be carefully considered when setting up a loyalty program in SAP CRM-MKT-MPL-LOY Loyalty Marketing. For more information on setting up a loyalty program, please refer to the SAP Help documentation.