At over 75 million strong, millennials dominate the U.S. population. This generation born between 1980 and 1996 holds around $1.3 trillion in spending power, according to Boston Consulting Group, and they haven’t even reached maximum earning power yet. Your brand needs to connect with millennials now – it’s crucial to the future of your business.
Building relationships now with millennials has immediate benefits, but it pays off even more in the long-term. Capture their attention early, and they could remain loyal to your brand for the rest of their lives, even passing on their love of your brand to their children. But, getting their attention now is tricky. […]
So. You’ve launched a great loyalty program and your staff members are handing out a lot of activated cards to customers. Why aren’t enough of your customers registering these cards? Until the customers register their loyalty cards by entering their information, you don’t know anything about them and they can’t redeem any rewards. Your program depends on these registrations, but they’re not happening enough. Sounds like a lose-lose, right?
One restaurant chain figured out how to turn this scenario into a win-win. National Coney Island (NCI) is a quick-service restaurant serving Coney Island-style hot dogs and cuisine to the Metro Detroit area. They realized during the summer of 2014 that only 30% of their Coney BucksTM rewards cards were being registered. That means that a whopping 70% of customers were accepting rewards cards but not registering their account. Because NCI couldn’t get to know those guests or track their information, they weren’t able to give them the most relevant offers possible. […]
Thorntons Refreshing Rewards
Congratulations to Thorntons on its new loyalty program. We checked in with Jeff Keune, Thorntons’ CMO to hear how the program is impacting its 178 location convenience and fuel retail business.
PX. What were Thorntons’ objectives in introducing its Refreshing Rewards loyalty program?
Jeff Keune. Thorntons Refreshing Rewards was introduced in March 2014 with the goals of quickly engaging with our customers, increasing both visits and the number of transactions per visit, and increasing gross profits. We also wanted stronger insights into our customers’ buying habits, the ability to move them in and out with a bigger basket ring per customer.