Coin Expiry
Through Nector, you can reward coins to customers for their loyalty to your store. However, as customers accumulate these valuable coins, there arises the possibility that they may forget about them over time. To address this concern, Nector offers a convenient feature: coin expiry. This feature ensures that customers are motivated to utilize their earned coins within a specified timeframe, maximizing their benefits and enhancing their overall shopping experience.
Go to your Loyalty Program page, click on Features in the side-bar and then scroll below to the Expiry & Reminders section and you can find the Coin Expiry.
Click on Configure button to open a new page.
As first step enable the coin expiry feature by toggling the status button on that page. After enabling you will see the below view.
Switch to the Configuration tab, and go to the Expiry Settings section.
Now under Expire Coins After you need to define after how many months/years you want your customer's unused coins to expire.
Possible values are:
2 months of inactivity
3 months of inactivity
6 months of inactivity
10 months of inactivity
1 year of inactivity
Also under When To Send The Reminder To Customers you can select when to send the reminder to the customer about the expiry
Possible values are:
A day before the coins expire
A week before the coins expire
A month before the coins expire
Once you have selected when the unused coins should expire, and when to send the reminder to the customer, click on the Save button to save it.
How the expiry is calculated?
Assume you have set the coin expiry as 2 months. If customer is rewarded 1000 coins, and use only 200 coins at the end of 2 months, then remaining 800 coins will expire.
Now we have to set up the notifications to inform the customers about the expiry of their coins.
Possible notification mediums are:
Email - You can setup an email, which will nudge the customer via email. PS. you can design the email template on nector dashboard.
Event - You can setup event, which will send event to connected tools like Klaviyo, Omnisend, Mailchimp etc, and on connected tool you can use the event data to send communication
To setup an email notification follow the below steps.
Click on Create button in this page.
A popup opens where you need to click the Send an Email button.
The Send Emails tab of the Emails page opens with a popup that is pre-filled but you can type in your desired subject under Email Subject if you would like to change.
By default it will be created with a predefined Coin Expiry template but you can also uncheck and design your own template from scratch.
If you want to create a new template uncheck and click on Design New Template button. A blank canvas opens where you can customise your email template as you want it. Refer to this Sending Emails article for more details.
Finally click on Create button, the email would be ready as shown below.
To send notifications through events, kindly follow this article on Events
To enable or disable the coin expiry feature just toggle the status in the page.
Screenshot of how the customer can see brief details about the expiry on the widget or the rewards page.
Setting up Coin Expiry
Go to your Loyalty Program page, click on Features in the side-bar and then scroll below to the Expiry & Reminders section and you can find the Coin Expiry.
Click on Configure button to open a new page.
As first step enable the coin expiry feature by toggling the status button on that page. After enabling you will see the below view.
Switch to the Configuration tab, and go to the Expiry Settings section.
Now under Expire Coins After you need to define after how many months/years you want your customer's unused coins to expire.
Possible values are:
2 months of inactivity
3 months of inactivity
6 months of inactivity
10 months of inactivity
1 year of inactivity
Also under When To Send The Reminder To Customers you can select when to send the reminder to the customer about the expiry
Possible values are:
A day before the coins expire
A week before the coins expire
A month before the coins expire
Once you have selected when the unused coins should expire, and when to send the reminder to the customer, click on the Save button to save it.
How the expiry is calculated?
Assume you have set the coin expiry as 2 months. If customer is rewarded 1000 coins, and use only 200 coins at the end of 2 months, then remaining 800 coins will expire.
Configuring the notifications for coin expiry
Now we have to set up the notifications to inform the customers about the expiry of their coins.
Possible notification mediums are:
Email - You can setup an email, which will nudge the customer via email. PS. you can design the email template on nector dashboard.
Event - You can setup event, which will send event to connected tools like Klaviyo, Omnisend, Mailchimp etc, and on connected tool you can use the event data to send communication
To setup an email notification follow the below steps.
Click on Create button in this page.
A popup opens where you need to click the Send an Email button.
The Send Emails tab of the Emails page opens with a popup that is pre-filled but you can type in your desired subject under Email Subject if you would like to change.
By default it will be created with a predefined Coin Expiry template but you can also uncheck and design your own template from scratch.
If you want to create a new template uncheck and click on Design New Template button. A blank canvas opens where you can customise your email template as you want it. Refer to this Sending Emails article for more details.
Finally click on Create button, the email would be ready as shown below.
To send notifications through events, kindly follow this article on Events
To enable or disable the coin expiry feature just toggle the status in the page.
Screenshot of how the customer can see brief details about the expiry on the widget or the rewards page.
Updated on: 24/06/2024
Thank you!