Yesway finds loyalty members spent ~ 25% more after joining program
From its inception, Yesway has been a brand that believes in data and measurement – especially when it comes to the loyalty program. In loyalty, data is the Holy Grail, as Loyalty Manager Michael Caldwell puts it.
The Yesway team was seeing tremendous success from its loyalty program in terms of enrollment, customer engagement, and incremental visits and spend. Still, the marketers at Yesway were seeking added confidence that its program was benefitting the company.
“At the very end, the question still hangs over you: Is it making any money?” Caldwell explained.
To find out, Yesway and Paytronix ran a credit card analysis using more than a year’s worth of historical data. The Paytronix Data Insights team matched hashed credit card numbers – those that identify a consumer but not the individual – to loyalty card numbers to identify non-loyalty users, loyalty users who had not registered with the program, and loyalty members that had registered with the program. That is – customers who had a loyalty card but hadn’t synced that card with their contact information, and those who had, either by registering online or using the mobile app.
“We were really blown away by what the data was telling us. Keep in mind, we took quite a conservative approach with our lift assumptions, and just seeing the results validated a key goal for our program.”
On average, Paytronix has found that well-managed loyalty programs can raise customer spending by 20%. Yesway’s conscientious and holistic approach to loyalty resulted in even greater results.
“Our organization, even prior to getting involved in convenience stores, is very data-driven. We rely on the numbers to tell us how to operate,” Caldwell explained. “I think Paytronix fits that mold perfectly with the amount of work the team does with data to help drive important decisions in the industry.”