Beans
ProductsPricingBlog
  • 🚀Getting Started
  • Members
    • Add a member
    • Adjust a member's balance
    • Deactivating a member
    • Import members
    • Custom fields
      • Custom fields on registration
  • rewards
    • Rules
      • Registration
      • Loyalty
      • Cart Booster
      • Facebook Page Like
      • Twitter Follow
      • Instagram Follow
      • Refer a friend
      • Accept referral Invitation
      • Inactivity
      • Celebration
      • Expiration
      • Birthday
    • Tiers
    • Display
      • Redemption block
    • Redemption
      • Redeem points
      • Pending Debits
      • Redemption rate
      • Redemption conditions
      • Buy products with points
      • Redemption issues
    • FAQ
      • How are loyalty revenues generated?
      • Adding Custom CSS
      • Disable checkout auto-redirect
      • Enrollment of customers in the rewards program
      • Why do rules have minimum points?
      • Loyalty points calculation
  • Referrals
    • Getting started
    • Rules
      • Accept Invitation
      • Successful Referral
    • Display
      • Link your referral page to your Shopify store.
      • Link your referral page to your Woocommerce store.
    • Conditions
    • Referrals
    • FAQ
      • Adding Custom CSS
      • Why registration is enforced for referrals.
      • Can Bamboo be used for affiliate marketing?
      • How to test Bamboo?
  • Emails
    • Rules
      • Loyalty â–¸ Welcome
      • Loyalty â–¸ Balance reminder
      • Loyalty â–¸ New transaction
      • Loyalty â–¸ Post-purchase invitation
      • Referral â–¸ Invitation
      • Referral â–¸ Referrer reward
      • Referral â–¸ Friend reward
    • Campaigns
    • Sender email
    • FAQ
      • Replacement tags
      • Sender address
      • Gmail's warning messages
      • Testing email notifications
  • More Apps
    • Social Connect
      • Display
    • Widget
      • Messages
  • INTEGRATIONS
    • Getting Started with Integrations
    • Shopify
      • Referencing Shopify pages
      • Enable customer accounts
      • Template Migration
      • Shopify OS 2.0
      • Using discount codes with redemption
      • Shopify POS
      • Shopify Limitations
      • Uninstallation
      • Shopify customers tags
    • Woocommerce
      • Account Synchronization
      • Referencing WooCommerce pages
      • Setting up permalinks
      • Edit Beans pages
      • Updating your shop domain
      • Manually Installing Beans
      • Reset and reconnect
      • Caching issues
      • Connection Issues
    • Facebook Integration
    • Judge.me Integration
    • Mailchimp Integration
    • Omnisend Integration
    • Sendinblue Integration
    • Weglot Integration
    • API
      • Webhooks
      • Storefront
  • Settings
    • General
    • App activation
    • Plan & Billing
      • Account Suspension
      • List of plans
      • Refund Policy
      • Supported currencies
    • Team access
    • Live Testing
  • FAQ
    • Limitations
    • Phone Support
    • Why is Beans better than the other options?
    • What will my customers see?
    • Can I reach an engineer to talk about technical issues?
    • POS Support
    • Security
    • Terms of Service
    • Privacy Policy
    • GDPR
Powered by GitBook
On this page

Was this helpful?

  1. rewards
  2. Redemption

Redemption rate

How does the Liana redemption system works? What are its limitations?

PreviousPending DebitsNextRedemption conditions

Last updated 2 years ago

Was this helpful?

The redemption rate is the conversion rate used to compute the value of the points your customers have accumulated.

The default redemption rate is: 100 points can be redeemed in exchange for 1 unit of your store's currency. If your store currency is USD, it means that for every 100 points customers accumulate, they will get a $1 discount. A customer that has 700 points will get a $7 discount and so on.

The default redemption rate is the best rate to, psychologically, maximize customers' engagement in your rewards program. When a customer has 3,700 points it is very easy for them to understand how much benefit they get when you set a redemption rate of 100 points to $1 instead of 250 points to $1. It is not currently possible to change the redemption rate, but you can set the maximum discount a customer can get while redeeming and limit the redemption against selected products.

Frequent Ask Questions

Why is the default redemption rate 100 points to $1?

The default redemption rate of 100 points to $1 makes it easier for both the merchant and the shopper to compute the value of points. For example, if you give the customer 5 points for each dollar spent, this would be equivalent to 5% cashback. So it makes it easier to resonate in terms of percentage. It is worth noting that in the Beans system, points can only be integers, so you cannot give a decimal amount of points. So the default rate gives you the best granularity. 1 point is worth ¢1 (one cent).

Is it possible to update the redemption rate to 1 point worth $1?

This is a frequent question that we get often from merchants. This is in fact a very bad idea. Since in the Beans system points can only have integers value, this would mean that if you are giving your customers 1 point per dollar spent, they will get 100% cashback. Better list your products for free.

What if my local currency is inflated and has a lot of digits?

In some currencies, product prices are already in the thousands. And the default rate of 100 points to 1 unit of currency makes it possible for the customer to have a large digit amount of points, for example, millions or billions of points. While this is not a technical limitation, it can limit the customer experience and cause display overflow in some places. The Beans team is aware of this issue and is working on solutions.

Will there be any way in the future to adjust the redemption rate?

At this stage, our team is exploring solutions to make Beans even more accessible to more merchants especially those who are having to work with an "inflated currency". There is a feature request on our about it. We encourage you to upvote and contribute by sharing your use case.

roadmap