Are Loyalty Programs on Their Way Out?

It’s likely you don’t need to be sold on the efficacy of loyalty programs. But, just in case you need a little reminder, a recent study found that just a 5% increase in customer retention can boost profits anywhere from 25% to a whopping 95%. Clearly, loyalty and retention are still exceedingly important parts of your business. 

But, at the same time, another study has found that active loyalty program members—those who are engaged and regularly participate in a program—has decreased 2% over the past few years.

And while 2% isn’t a huge number, there are a couple things to note. First, that tiny little 2% can represent millions in the industry and perhaps even hundreds of thousands of dollars to a restaurant or convenience store business.

Next, that 2% only reflects the recent trends. If it’s the sign of a downward trend moving forward, it could spell big trouble for loyalty-dependent businesses.

So why are customers becoming less active in the loyalty programs they signed up for?

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Yesway Uses Its New Loyalty Program to Drive Transactions – An Interview with Darrin Samaha, VP and Brand Manager

Yesway was recognized as a winner of the ‘Best Convenience Store Loyalty Launch’ in the 2018 Loyaltees. Launched in December of 2015 by Brookwood Financial Partners, LLC, a Massachusetts-based private equity firm, Yesway plans to acquire, improve and rebrand approximately 500 convenience stores in select regions of the U.S. over the next several years.

We invited Darrin Samaha for a Q&A session and asked him to share how the brand is achieving increased visits with the Paytronix platform.  

 

Paytronix: How does your loyalty program serve as a customer touch-point, and an extension of your brand?

 

Darrin Samaha: Data is integral for building the customer experience […]

Driving Up Revenue in the Forecourt

Convenience store forecourts haven’t changed much in the past 50+ years…which means that they’re the ripest with possibility. 

Certainly, pay-at-the-pump options and TVs embedded in the pumps themselves have added ease and entertainment to the experience for customers, but there is much more that convenience store owners could do to optimize the experience for both their loyalty programs and their revenue.

With technology making it easier than ever to add more facets to our promotions and programs, it’s well worth exploring exactly why the digital landscape can meet up well with this traditional, drive-up-and-pump interaction. […]

Five Targeted Geofence Messages Destined to Drive Visits

Imagine if you had the ability to attract guests to your restaurant when they are close by? Well, you do! Consider this powerful statistic: After a geofence message has been sent, 30-40% of recipients will visit the location within 24 hours.

Instead of blasting out a generic offer to anyone in the area, you can make your guests feel special with an offer that caters to them.

Here are five use cases where nearby guests can be sent highly targeted offers to entice them to come in:

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