If you go on a first date but aren’t able to establish a connection, it’s usually no big deal. After all, there are plenty of other fish in the sea! But when you operate a restaurant and you’re not compatible with your guests, that’s a different story. Those are the fish in the sea — and your business is only as strong as your compatibility with your customers.
From grocery stores and restaurants to alternative meal sources like Blue Apron, guests have a vast number of options when it’s time to eat, and the list is growing all the time. And with that many options guests will quickly lose interest in a restaurant if they encounter anything that disrupts a convenient and pleasant dining experience.
The problem for restaurants is that in many cases they are disrupting their customers’ experiences — creating friction in what otherwise should be a smooth and easy interaction — without realizing it. […]
The greatest revenue-generating potential a loyalty program can tap into is a brand’s segment of customers who visit sometimes but not always. We have seen this proven time and again across more than 300 reward programs.
Each segment of customers visits at a particular frequency. Customers with medium-to-high frequency are giving the brand nearly all of their possible visits. Since they are already your biggest fans, getting them to visit you more is going to be tricky. On the other hand, low-frequency customers are visiting your brand occasionally, but other brands are being visited by them more frequently. The potential for your team to move low-frequency customers into a higher-frequency segment is where the value of any successful loyalty program comes into play, as the goal is to steal visits from the competition.
So, if the value of your loyalty program depends on your ability to attract lower-frequency members, how do you do it? There are three key factors. […]
Club programs are a staple in the convenience store industry. They help to motivate customers to visit more often since the customer knows that they are working towards getting a free reward, making sure they keep returning to make their purchases.
So, while club programs are a tried and true method for convenience store loyalty, there are three strategies to take these programs to the next level and start making an impact on your brand’s bottom line. […]
The Webinar Warrior Showdown was so successful last summer that we’re doing it all again! Starting this Tuesday, June 6 at 1:00 EDT, you’ll receive a chance to win a fantastic grand prize that will change your business forever. All you have to do is join us for as many of our weekly live, thought-provoking webinars as you and your team can in the months of June and July. The organization with the most webinar attendees will win a free, one-day loyalty workshop with the Paytronix Data Insights team sometime this fall.
Data Insights manager Lee Barnes will lead the workshop for the winning group. Lee has helped dozens of brands launch and manage their rewards programs. His undergraduate degree in Mathematics and MBA from Harvard Business School gives him the unusual ability to execute complex analyses and translate the results into ideas that business leaders can use. The lucky organization that wins the Webinar Warrior Showdown will receive free access to his impressive wealth of knowledge – a value of over $10,000. […]