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. […]
Reward programs have been around for years. Airlines, hotels, and restaurants adopted these programs decades ago. Convenience stores on the other hand, seem to prefer club programs and simple promotions like 3 cents off per gallon or short term, low value programs.
At a high level, mass promotions are a great business strategy, driving more visits and spend. Most of the time they are also paid for by the CPG vendors, so the cost of running these promotions is minimal to the convenience store. Mass promotions and eblasts get brands quick wins and compel customers to make purchases with the incentive of getting an item for free.
Most mass eblast promotions are the standards “Buy 1 coffee, Get 1 coffee Free.” Let’s think about this from the customers’ point of view, […]
With 72% of U.S. adults using a smartphone, mobile technology is changing the way that brands connect with their customers. Most brands have started to roll out a mobile strategy that utilizes an app. The average smartphone user has around twenty-seven apps on their phone, but studies show that most users spend 80% of their smartphone usage on just five apps. What are the odds that your app would be one of those? That leaves only 20% of their usage time for apps outside of those five, meaning your app is competing with over twenty apps for the user’s attention.
The good news, a mobile strategy goes far beyond just your mobile app. By utilizing a full mobile strategy your brand can get to the forefront of your customers’ minds. So, beyond a mobile app, what other elements of a mobile strategy can your brand implement to engage customers and motivate them to come into your store? […]