Like most of America, the restaurant and c-store industries will be happy to bid 2020 goodbye and hope for a fresh start in 2021. As we at Paytronix look toward the future, we see a brightening on the horizon, one that may even end in a large party.
But getting there is going to mean change, not only in how the industry thinks about guest engagement, but also in how restaurants themselves are constructed. We predict that as restaurant and c-store brands move beyond the pandemic, they will need to make significant investments in the technology infrastructure that enables them to focus on truly owning the guest. […]
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.
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. […]
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 program so 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. […]