Evaluating your Existing Loyalty Program

Evaluating your existing Loyalty Program: PART I

What is the effectiveness of your current Loyalty Program?

As a restauranteur, it is important to have access to existing information regarding your existing loyalty program strategy to ensure key elements are being met or exceeded. The ROI of your loyalty program, how you optimize it’s effectiveness, and how you access the data you need to provide the best customer incentives are major questions you should be able to answer without hesitation. Can you answer any of these questions right now?

What is the effectiveness of your current Loyalty Program? Are you still using paper punch cards? Besides being costly and out-dated, paper punch cards do not award you, the operator, the chance to collect customer data and focus primarily on discounting.

According to loyalty marketing company 500Friends, “Most commonly, there are very significant gaps in program data that make it nearly impossible to determine what is working and what is not.” The blog goes onto say, “the second most common scenario is a program that offers discounts and very little more.”

Dig into Evaluating Your Current Customer Loyalty Program

Loyalty Program

Now that we have identified two common mistakes many restaurants make, there is a positive note- having ANY sort of loyalty program is a step in the right direction and the investment in the loyalty of your best customers is a proactive strategic choice. “The problem is that the right tools to capitalize on the potential of loyalty have not been available. When you evaluate your loyalty program, be sure to pause and ask whether you have the data at your fingertips that you need.”

In walks AppSuite… the mobile app company that allows operators to provide loyalty and incentives to customers through the latest smartphone technology. In addition to changing the way your restaurant communicates with customers, mobile loyalty apps make customer data accessible and actionable.

Your restaurant is able to track guest behaviors and target customers with deals that will appeal to them and bring them back to your restaurant. Companies that track their customer loyalty are up to 60 percent more profitable. Another bonus? Mobile coupons have a greater redemption rate of seven times over paper coupons.

Key Loyalty Program Metrics:

  • Annual transaction rate increase by segments
  • Variance in member vs. non-member spend
  • Program growth rate vs. effective growth rate
  • Enrollment rate segmented by acquisition channel
  • Coupon or certificate breakage rate
  • Loyalty currency rate

Imagine targeting customer rewards based on their behaviors and buying patterns. Gone are the days of the “one reward fits all”. Now you can choose how to reward your customers with powerful programs that are tailored to meet their individual needs.

Build Your Loyalty Program with AppSuite

AppSuite uses innovative loyalty tactics and a deep understanding of what drives repeat customer purchasing to impact your bottom line and cultivate a loyal following of raving fans. Discover how a mobile app with AppSuite can help you to answer how effective your loyalty program is and keep customers targeted and engaged day after day.

Read how operators like you have shared in loyalty success!

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