Whether catering is already an established part of your restaurant or a new addition, offering your catering customers a rewards program designed just for them is a great way to grow a loyal repeat customer base. Restaurant catering is a $33 billion industry, so it makes sense that casual, fast casual, and quick-service restaurants are making catering loyalty programs a priority.
Why Catering Loyalty?
For restaurants that don’t already offer catering, launching a catering program provides a steady flow of sales. It also provides excellent opportunities to reach new audiences and grow awareness of your brand among those who might experience your brand for the first time at a catered event. The average business spends $1,100 per month on catering, with average orders over $200. Thirty percent of catering customers order weekly, and twenty percent of them order multiple times per week.
That steady flow of reliable large orders could be a huge boost to your sales. By gaining even one or two new catering customers per week, you can reduce the strain of trying to acquire over twenty individual new guests. Pairing a top-notch experience with a rewards program specifically for your catering customers is a great way to grow loyalty and inspire repeat purchases.
Driving Loyalty Through Catering Rewards
The nature of catering makes it necessary for you to develop a separate rewards program for your catering business. If you have a rewards program for individual orders where for every ten orders you get one free, applying that to catering might result in a free order worth hundreds of dollars, revenue you don’t want to miss out on. Here are a few ways you can use a catering rewards program to drive loyalty: […]
Recently the (FASB) Financial Accounting Standards Board and (IASB) International Accounting Standards Board got together to try to make “revenue” mean the same thing in every industry and every country.
And while that might sound easy, it turns out that the US alone is notorious for having different rules for different economic sectors. So, the FASB and IASB set out to fix that.
In 2018, the new model guidelines they set for public companies went into effect. And in 2019? They go into effect for private companies.
In a nutshell, these guidelines are going to affect nearly every program you run as part of your rewards or loyalty program. The new accounting rules for loyalty programs—even programs as simple as “buy 9, get 1 free”—may force you to change how you represent the costs and revenue in your accounting system.
Tune into a free, on-demand webinar, “New Accounting Rules for Loyalty,” to learn how these new accounting rules affect your loyalty programs and what you need to know. Click here to watch. […]
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. […]
Every restaurant understands that attracting new customers is crucial for sustained success. But even though the millennial generation begins with those born in 1979, many restaurant owners struggle to connect with this audience—not to mention Generation Z, the generation that comes after it.
Today, we’re going to examine common attributes and behavioral trends for both of these newer generations and touch on a five-part framework to help ensure that restaurants can attract and retain more millennial and Gen Z customers.
Traits of Restaurants’ Millennial Customers […]