Archive for the “Tech Talk” Category

Convenience Store Marketing & Loyalty Program Trends for 2019

If 2018 continued the trend of disruption for convenience stores—with things like Amazon Go stores opening at a steady pace and frictionless shopping gaining traction—convenience store marketing trends for 2019 all have to do with capitalizing on those disruptions.

Our team has identified seven can’t-ignore trends that represent a tremendous opportunity to increase brand loyalty and increased revenue. Planning for (and taking advantage of) these marketing strategies now will help ensure that your store’s biggest “trend” for 2020 is consistent growth.

(To get a detailed description of each trend, along with ideas for how to make the most of them, click here to access our free, on-demand training called, “Convenience Store Trends: Expert Predictions for 2019.) […]

New Accounting Rules for Loyalty Programs

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.  […]

Build a Mobile App That Customers Want to Keep

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. […]

Boost Customer Loyalty with Enhanced Apple Pay Integration

Updated: November 1, 2018

Original Post: October 25, 2017

 

Apple Pay with NFC Loyalty is now live in 2,000+ locations.

Guests have an easy, secure, private way to pay and pass their loyalty identification in one NFC tap.

The speed of Apple Pay can now be combined with an incredible convenient loyalty experience for all Paytronix customers.  The recently completed integration of Apple Pay with the Paytronix Rewards Platform promises easy, secure and private mobile payments that simultaneously record loyalty data in a single NFC tap that’s fast and convenient.

“For the brand, this solution reduces the complexity and more importantly the time required for a cashier to process an order, a key metric for QSR and Fast Casual chains,” said Todd Michaud, restaurant technology consultant with Power Thinking. “For the customer, it brings loyalty functionality into the Apple Passbook, which means one less app they must navigate at check-out, greatly improving their ease-of-use. This in turn will lead to greater adoption, providing marketers with additional data to improve the program effectiveness. Any improvement like this that can positively impact the consumer, store operations and marketing is definitely a win-win-win.”

Some of the benefits that Apple Pay brings to restaurants, retailers and end users include:

Convenient Guest ID. With the NFC Apple Pay integration, guests tap their phones not only pay, but also deliver their loyalty identifier and redeem rewards. […]