Facts and figures are easy to come by for any guest engagement platform, be it loyalty programs, e-club programs, or CRM. But what are the key measures that marketers can rely on to deliver material impact with the customer engagement program? Running more than 350 programs has provided Paytronix with a clear understanding of what works and what doesn’t, telling us where to focus effort for the greatest impact.
To remember the most important measures, use the acronym EAT. It stands for Enrollment, Activity, and Triggering. Plus, there’s an additional measure called Penetration Rate. Consider how these four measures impact your guest engagement program:
- Enrollment: Adding new members drives program impact. Although some members will inevitably move on from your brand for a variety of reasons, the key is to add more than you lose. Enrollment can be encouraged through numerous marketing strategies, including promotions and cashier contests. You should also make it easy for guests to join by offering mobile apps, text-to-enroll, NFC loyalty, and website enrollment.
- Activity: It takes active members for a program to maximize its potential, and the level of activity provides a multiplier effect on the amount of impact. Having a frictionless, guest-centric, fully supported program will result in a high percentage of active guests. Your program should offer attainable benefits and make it easy for guests to interact with the brand. Implementing well-thought-out customer engagement strategies will provide the best results on your program’s success.
- Triggering: The extent to which your team can trigger incremental spending is directly related to the impact your program delivers. Incremental spending is primarily measured in two ways, with the first being an analysis of pre- and post-program transactional data. How were the members behaving before the program launched and what are they doing post-launch? Typically, Paytronix programs see at least a 20% increase in spend after the launch happens.
The other way to measure is by using target-and-control campaigns. These enable the marketer to hold a control group out from the targeted segment. When results are reported, a clear picture of incremental spend and visits comes into focus. The control group behaves as it normally would, while the target group exhibits the behavior prompted by the marketing message or special challenge presented. Target-and-control programs answer the question that CFOs have been asking CMOs for years: “How many of these guests would have visited anyway?”
- Penetration Rate: The percentage of checks associated with a guest who identified as a member is the penetration rate. This is an important measure because the higher the penetration rate is, the more opportunity the brand has to drive impact with the program. If the penetration rate dips below 15%, the brand should be alarmed, as programs with low penetration rates generally underperform on all organization expectations. Paytronix clients routinely achieve penetration rates of 47–70%.
Brands that focus on these four measures deliver the greatest impact to their organizations. Visit us at www.paytronix.com to learn more.
Even the most brilliantly conceived loyalty program is only as good as its results. These new dashboards make it so much easier to evaluate them!
We’re happy to announce new dashboards, all of which have been fully rolled out and are available for you to use and explore.
Access the numbers you need. Visualize the trends in the data that will help prompt ideas for other successful promotions. The more you understand your customer data analytics, the more you’re able to build customer loyalty and strengthen customer retention.
Think of the main program dashboard as a high-level look at your loyalty program. Here, you’ll get the “executive summary” of key information like average spend per visit, new members added within a certain time frame, and more. You can also filter data to dive a bit deeper into the exact information you’re looking for.
Beyond the main dashboard, there are four other dashboards you can navigate to for even more detailed data and richer insights:
- Spend by Time of Day dashboard helps you get a handle of the correlations between revenue and what time the visits occur.
- Enrollment Detail dashboard gives you insight into how people are signing up and where they’re signing up, as well as key demographic information.
- Visit and Spend dashboard offers key information about total dollars spent, including important year over year data.
- Mobile Dashboard keeps you on top of information about your mobile program, helping you monitor things like mobile app downloads over time.
Additionally, if you run a gift card program access the dedicated gift card program dashboard to easily analyze your program’s performance.
You can quickly navigate to each of these dashboards within your analytics tool, and you’ll find that it’s easy to switch from one dashboard to another. You can also download data from these dashboards at any time, or schedule dashboard information to be sent to you on a regular basis.
These dashboards were created to help ensure that you have a good understanding of your programs and can see the program metrics in pictures as well as numbers. But another key element is to help inspire new marketing ideas and help you identify new opportunities.
For more ideas or tips about how to use your dashboards or transform your loyalty programs, don’t hesitate to reach out to Paytronix. We’re always here to help you succeed.
Your guests are going through their phones right now and deleting apps they don’t use. Why would they keep yours?
If your mobile app delivers convenience and enhances their experience with your brand, they’re more likely to use it. If not, it will be added to the millions of apps that are downloaded and deleted every year.
Whether your brand is a restaurant, convenience store, or retail store, engaging your guests on mobile contributes to the overall impact of your loyalty program. That’s why we’re investing in continually developing new features in the Paytronix-powered mobile apps. Here are some of the highlights from 2018 and what’s in the works for 2019:
New User Experience. Enhancements to the user experience get members into your loyalty program more quickly, reduce abandonment so that more members join, and tells each member where they are in the program along with any rewards and promotions they can utilize. […]
For restaurants, gift card programs represent a major opportunity for increased income, increased customer engagement, and increased audience size. But it can be hard to know how a restaurant’s gift card program is measuring up without comparable data.
So, to help restaurants learn how to sell more gift cards, including information about exactly how gift card programs for restaurants can be tracked and measured, you can find all of the most important gift card program details right here. […]