This year’s Paytronix User’s Conference was unconventional, to say the least; but thanks to our incredible clients, the first-ever virtual PXUX was a success!
Thank you for bringing valuable feedback, nuanced insights and dynamic conversation to the event and making PXUX 2020 one for the books.
While we would have loved to have gathered, dined and shook hands with each and every one of our clients (PXUX 2021, perhaps?), we know some of you were not available and others might appreciate a recap of the conference’s events. Here is a high-level overview of some of the year’s biggest takeaways. […]
The Convenient Connections Summer Series is a five-part blog that explores successful loyalty campaigns that convenience stores can use to drive user engagement, win back customers, successfully segment customer groups, and ultimately drive incremental revenue. Look for the Summer Series throughout the month of August.
Getting a campaign off the ground is just the start. Once a brand has secured a solid loyalty base with a penetration rate of at least 15%,our minimum benchmark for successful programs, the program can be leveraged to drive various desirable behaviors – from more frequent visits to greater spend. The program can even be manipulated to drive members to purchase specific items.
Basket-building campaigns do just that: they are designed to build the consumer’s basket, either by encouraging them to purchase more, or in this case, to purchase a specific item. These campaigns work best when they target very active customers who not only visit regularly, but who have provided lots of data to the brand about their spending habits via the loyalty program.
There are several ways to go about this, but each relies on check-level detail, or CLD, being collected for each loyalty member. This data – which shows not just how much the customer spent and when, but on what – is invaluable to the marketer trying to boost a specific product’s sales. […]
The Paytronix Convenient Connections Summer Series is a five-part blog that explores successful loyalty campaigns that convenience stores can use to drive user engagement, win back customers, successfully segment customer groups, and ultimately drive incremental revenue. Look for the Summer Series throughout the months of August and September.
A successful loyalty program has been proven to be the ultimate tool for the wise marketer. Loyalty programs drive customer engagement and spend, build and strengthen the relationships between the brand and the consumer, and provide invaluable insight into customers’ behaviors and preferences.
A truly effective loyalty program must be cultivated and monitored, with regular tweaks and upgrades. This includes choosing the right campaign for the desired outcome, whether that’s winning back a lapsed customer or engaging a new loyalty member.
Engaging new members is critical as it not only shows the member the value in the programso they’ll continue to use it, but it’s also a primary indicator of whether that customer will continue to visit.
Getting a customer to register for the program at all is already a strong indicator that they’ll return. But Paytronix data shows that customers who visit three times after registering have a nearly 90% likelihood to return. It’s around this point that the likelihood of a next visit plateaus, so that third visit is the goal to strive for. […]
The final weeks of June and early half of July ushered in a new era of the pandemic, as southern and western states that had largely evaded the worst of Covid-19 became new virus hotspots. The rising number of confirmed cases and hospitalizations forced many states to order restaurants shutter their dining rooms – again – and meant fewer drivers on the road as other businesses wound down operations.
Despite the setback, Paytronix data shows that the restaurant industry’s recovery has slowed, but not reversed. In late March and into early April, restaurant sales dropped to 30% of pre-COVID levels. Starting in the middle of April we saw sales recover at a rate of 0.4% – 0.5% per day, reaching 70% of pre-COVID levels by the July 4th weekend. […]