Rewarding Your Community
It is widely established that Millennials and Gen Z expect brands to appreciate and reward them for their engagements on osical media. This creates real brand affinity as customers feel they are being listened to and being appreciated for the value they create for the brands they love. At Pukket we believe the highest level of brand loyalty and affinity is when customers are willing to advocate for it.
We have recognised the role rewards play in amplifying word-of-mouth and advocacy. As a result we have developed a fully customisable point-based system for you to automatically reward your community with. The framework is very similar to a point-based loyalty system. The points however are awarded for the quality of the user-generated content shared, the caption of the post, the tags, as well as the engagements (likes, comments, clicks, retweets, conversations etc). Our prorpriatary algorithm takes all these factors into account to automatically score each post.
Once the users are scored based on visual and textual quality of their post, their engagements will automatically convert into points. Let’s explore how it works:
Understanding the points
The simple way to understand it:
The default system of rewards are as demonstrated above. Every two engagements result in one point, valued at £0.20, or 0.20 in other currencies. You can of course change the rewards system by increasing/decreasing the number of engagements on the far left. However each point will always be valued at 0.20 to avoid systematic complexities.
In this scenario, a user with 50 engagements on her post receives 25 points which is worth £5 (or 5 in other currencies). 50 engagements = 25 points = £5
Please note that you can set a minimum number of points and a maximum number of points your fans will receives per piece of content. The default minimum is set to £5 (or 2 in other currencies) and the maximum to £50 (or 50 in other currencies).
The complex way around it for a more customisable system of rewards
E: Number of Engagements on user’s post
P: Number of points earned by the user. Each point on our system is valued at £0.20 (or 0.20 in other currencies). This means every 5 points will result in a monetary value of £1 (or 1 in other currencies)
E2P: The rate at which engagements (E) will convert to points (P).
Example 1: an E2P of 1 means every engagement is equivalent to 1 point. Example 2: an E2P of 0.5 means every 2 engagements will convert into 1 point.
Scenario: If you decide to set your E2P to 0.5, a user would get 1 point ($/£/€0.20) for every 2 engagements they receive on their post. Let’s say an average Instagram user receives 50 engagements on their post. This means the user will receive 25 points (2 engagements per point). As indicated before, each point is valued at £0.20 (or 0.20 in other currencies). This means the user can redeem a £5 reward value from the store tab.
50 E * 0.5 E2P = 25 P (£5)