For the last few years, I’ve had the pleasure of planning the logistics for PXUX team. Our effort is always rewarded when we look back and recall our client’s case studies of how they’ve succeeded with the Paytronix platform. Additionally, we were able to show off our latest feature innovations in an up-close, personal way so our clients could discover how to continue to amp up their programs.
If you weren’t able to join us this year, I’d like to encourage you to add it to your company’s 2017 plan. Save the date for September 13 & 14, 2017.
If you were to ask me what we did during our two day on the banks of the Charles River, I would answer, “We… […]
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.
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? […]
The summer is in full swing and the holidays are probably the last thing on your mind. As much as we don’t want to think about snowflakes and holly branches, now is actually the best time to start thinking about your restaurant’s holiday-themed gift and promo cards. Here’s why:
In a recent survey, 73 percent of adults said they would purchase at least one gift card to give as a gift during the holidays. Those same adults said that 34 percent of the gift cards they planned to purchase would be for restaurants. With gift cards being such a hot item, restaurants should make sure they have an ample supply of holiday-themed cards and carriers.
The Paytronix User Experience (PXUX) is only a few weeks away! This two-day, interactive conference will showcase highly impactful marketing programs as well as a roadmap for the future of Paytronix technology. Attendees should come ready to Amp It Up, because everyone will walk away from the event with new strategies to take their programs to the next level.
PXUX is an annual conference for Paytronix users in Boston on August 24th and 25th of 2016.
As an attendee, you will have access to:
Unlimited networking with fellow Paytronix employees and clients. Don’t miss this unique opportunity to come together with fellow PX users and the Paytronix team! You will have plenty of time to connect with one another during activities, meals, sessions, and more. Our special Wednesday evening event will be an especially fun time to network. We are so excited to announce the venue: The Museum of Science! It’s a short walk from the conference center and sits directly on the beautiful Charles River. You will explore the museum during a competitive scavenger hunt and then head outside for an amazing New England Cookout at the waterfront pavilion.
Stories from peers and client presentations. Discover what others in the industry are doing with the Paytronix tools. Hear first-hand from your peer’s stories of their biggest obstacles and how they were able to blow past and reach their goals.
A roadmap to what the future holds. Do you want to know what is in store for the future of the PX tools? Be sure to sit in on this sneak peek. You will see first-hand the innovative features we plan to roll out.