The greatest revenue-generating potential a loyalty program can tap into is a brand’s segment of customers who visit sometimes but not always. We have seen this proven time and again across more than 300 reward programs.
Each segment of customers visits at a particular frequency. Customers with medium-to-high frequency are giving the brand nearly all of their possible visits. Since they are already your biggest fans, getting them to visit you more is going to be tricky. On the other hand, low-frequency customers are visiting your brand occasionally, but other brands are being visited by them more frequently. The potential for your team to move low-frequency customers into a higher-frequency segment is where the value of any successful loyalty program comes into play, as the goal is to steal visits from the competition.
So, if the value of your loyalty program depends on your ability to attract lower-frequency members, how do you do it? There are three key factors. […]
Club programs are a staple in the convenience store industry. They help to motivate customers to visit more often since the customer knows that they are working towards getting a free reward, making sure they keep returning to make their purchases.
So, while club programs are a tried and true method for convenience store loyalty, there are three strategies to take these programs to the next level and start making an impact on your brand’s bottom line. […]
Last night the Golden State Warriors defeated the Cleveland Cavaliers 113-91 in Game 1 of the NBA Finals. As a result, I’ll be watching Game 2 at Buffalo Wild Wings.
The last time I visited the chicken wing/sports bar concept I played the Spin & Win game on the Blazin’ Rewards app. This is a gamified component of the brand’s loyalty program and members like myself have an opportunity to play every time they visit during the NBA postseason. Each visit allows one “spin” in the app. Every spin reveals a team with an upcoming playoff game. If that team wins its next game, the guest earns 100 bonus points towards a reward.
When I played during a lunch visit earlier in the week, my spin landed on the Warriors. When they won last night, I earned 100 points, giving me enough currency to earn a free entrée. Now I can’t wait to go back for Game 2 this weekend so I can redeem my reward and play again to give myself a shot at 100 more points. […]
How do sports impact restaurants — and even the revenue of non-sports-theme restaurants? Here are a few quick statistics: When Lebron James returned to Cleveland and the Cavaliers, the city saw a 30%-200% increase in local restaurant revenue.
His return boosted restaurant revenue all year long, including during winter, Cleveland’s traditional restaurant off-season.
Experts estimate that his return was worth $500 million to the city of Cleveland.
Sports mean big money for the restaurant industry — with or without your city’s own Lebron James.
But it’s likely that if you’re not a sports bar or sports-themed restaurant, you may have viewed sports promotions as outside of your purview. Not only is that a mistake, but it’s a costly one.
The sports industry is worth $73 billion and growing. In a nutshell, there are four ways to take advantage […]
Turn customer engagement into meaningful guest experiences.