Today’s successful loyalty programs rely on personalization. As technology has expanded marketers’ capabilities through data collection, consumers now expect messages and rewards that match their own specific wants and needs.
This has elevated a new concept in loyalty: using artificial intelligence to drive individual action. Put more succinctly, it’s AI to IA℠.
Artificial intelligence enables marketers to identify patterns and idiosyncrasies among customers in a much faster, more efficient manner. A group of like-minded consumers that might have taken an entire marketing team months to identify can be spotted by a computer in a matter of minutes. Leveraged strategically, that can make a big impact in terms of incremental visits and revenue.
Here is a common example that at least one large brand used to drive astounding results: a 37% lift in visits and a 28% lift in spend from the targeted customers. […]
With Covid cases rising across the US, it’s clear that many restaurants will face another round of dining room closures. During the summer months, restaurants found new ways to expand offerings, like outdoor seating and contactless dining; but colder weather will render outdoor seating impossible across much of the country. Even in warmer climates, on-premises dining may be prohibited as the nation weathers a second wave of infections.
Since the pandemic truly took hold in March, our clients have been trying out new ideas and learning how to transform their businesses to handle the next wave. The restaurant industry has a huge impact on employment in the US. In New York City alone, the introduction of outdoor dining added as many as 83,000 jobs after the initial layoffs in April. The threat of these jobs going away again will have a huge impact on restaurants and employees in the near-term.
Here are 5 things we learned about how to retain business during a slowdown in on-premises dining:
We’ve come a long way since the days when subscriptions covered only magazines and newspapers. From entertainment and fashion to consumer goods and meal kits, subscriptions have been steadily gaining traction in numerous industries for several years — and that includes restaurants and c-stores.
The model can be used in different ways. One common example involves asking customers to pay upfront for services or meals redeemed later. For instance, Olive Garden’s Never Ending Pasta Pass is paid in advance, and then customers redeem their “pass” at every visit.
But this is far from the only model available. The flexibility of subscriptions allows you to tailor your options based on your store or restaurant’s needs, then adapt your subscription quickly to take advantage of factors like seasonal preferences, customer interest, or promotion of higher-priced meals, services, or products.
Four to Consider
Within the breadth of subscription types, there are four main models that can form the basis of a program: […]
Convenience Store News recently named Family Express Founder, President, and CEO Gus Olympidis as its 2020 Technology Leader of the Year. Family Express is a long-time Paytronix client and Olympidis recently spoke at PXUX 2020 about his experience with the platform. Afterward, we sat down with him to discuss how Family Express approaches technology and uses it to maintain a leadership position in the market. […]