Stephen Stone
Stephen Stone
Stephen Stone is a content marketing specialist at Paytronix. With a Bachelors Degree from Fitchburg State University and a Masters in Communication Management from Emerson College, Stephen is well-versed in all things communication.

Four Signs That Your Rewards Program Needs an Upgrade

Do you need to reinvigorate your brand, increase revenue, and improve profitability? Upgrading your rewards program may help. However, proceed with caution. Upgrade only when you know the new program will better align the program with corporate strategic goals and likely produce large financial benefits.

There is never a perfect time to change your program. When clear signs arise, give a program upgrade serious consideration. Look for any of these four signs:

1. Declining loyalty penetration and new member enrollment. If the share of checks associated with your loyalty program is declining, it could signify that tenured members are lapsing and that the program is no longer motivating them to come in. If new member enrollment is down, it could be because new guests are not interested in the program or that team members in the store have stopped promoting it. group

Your program should achieve a minimum of 15 percent loyalty penetration. This means at least 15 percent of your checks should be associated with the loyalty program, and according to many top brands, their loyalty penetration numbers far exceed the 15 percent benchmark. For example, in an July 2016 earnings call, Panera president Drew Madsen said that 50 percent of company transactions were associated with the My Panera program. If you notice your loyalty penetration rate dropping, and particularly if it dips below 15 percent, it may be time for a change.

2. Evidence that customers are “gaming” the program to their advantage. Have customers figured out a loophole in your program that they use to their advantage? Is your visit-based program increasing the number of split checks, and slowing down operations? Are customers buying low-priced items to earn points, and then redeeming them for expensive items? […]

How to Meet Your Guests’ Customer Service Expectations in 2016

In an increasingly connected world, customer service tools are being put to the test. Today, we have access to relevant information 24 hours a day and seven days a week. Online experiences are constantly being shaped to fit each user’s specific preferences. We’ve come to expect instant satisfaction and relevancy in every walk of life, and these expectations have carried over to the way your guests feel about your brand.

Today, your guests demand instant satisfaction and relevancy. When they engage with your brand, they want to know they are being heard and remembered. Paytronix recently added two features designed to meet these needs: […]

Boost Rewards Program Enrollment by Providing More Ways for Guests to Join

Enrolling at the POS is just one way to join a rewards programEnrolling younger generations of guests into your rewards program can help your brand grow and maintain a strong core of loyal members for the foreseeable future. And these days, many brands believe that doing this requires their enrollment strategies to evolve so they keep up with the enrollment preferences of their increasingly younger guests. This is only partially true.

Your program should be a living and breathing entity. Adapting to match the engagement preferences of new customers will help your program attract new guests who are more comfortable using technology to connect with brands. Adaption is not a metamorphosis, but rather an expansion of enrollment methods to attract younger demographics.

Let’s say your program enrollment began exclusively as a card-based operation, and the only way members could enroll was by obtaining a plastic card in-store. You probably already know that attracting millennials to your program will help you build a sustainable base of loyal guests. So supplementing your card program by adding enrollment channels such as text-to-join or enabling enrollment via a mobile app or an online ordering system make sense. […]