■ What is the Loyalty Program or How does it Boost the Growth of Business so much? ■ Why Customer finds it interesting? ■ And most important
■ This is the most common Loyalty Program methodology. Frequent customers earn points, which translate into some type of reward, whether it's a discount, a freebie or a special treatment.
■ Customers hope to get something when they visit your Restaurant. ■ Improves the Relationship with Guests. ■ Database of Existing Customers which get creates helps in Re-Marketing or Announcing something important. ■ You have the possibility of gratitude and reward your loyal customers. ■ Your Restaurant becomes a BRAND. ■ It becomes more competitive. ■ Frequency of your guest's visits starts increasing.
Choosing the Right type of Loyalty Program is also a Task. We, at Mappfy, can help you with the Perfect Loyalty Program solution for your Restaurant by analyzing Business functions and How your Restaurant works.
Points-based rewards systems are intuitive and easy to understand for guests, making it more easy for new and frequent repeat guests to participate.
One of the major advantages of points-based rewards systems is their flexibility. Restaurants can easily manage how many points customers earn per dollar spent and design a wide range of exciting reward offerings such as freebies, discounts, or special offers. New guests are rewarded for their very first order making them more likely to participate in the program. Loyal guests earn points faster for their frequent purchases, helping restaurants tighten their relationships with them.
Compared to point-based reward systems, visits-based programs make the rewards seem more attainable as they are tied to the number of visits, rather than the number of dollars spent. This significantly lowers the program’s entry barrier and makes loyal guests feel rewarded regardless of how much they actually spend.
While points-based programs may raise restaurants’ revenues per guest by motivating greater spending, it fails to engage regular guests that don’t make big purchases per visit. This is not the case for visits based programs, which are aimed at increasing frequent visits rather than higher spending. Research has shown that returning guests tend to spend more on their next visit.
To encourage new guests to participate in the rewards program, restaurants should focus on presenting attainable rewards for their first buy-in. Regular guests, on the other hand, need to be presented with desirable rewards in order to secure their relation and purchase more.
Offering basic memberships with easily attainable rewards encourages new guests to participate in the program, with more promising rewards in higher tiers reserved for encouraging guests to move up in the membership ladder.
Giving away unexpected prizes can establish good and lasting relationships with guests. It is also effective in generating buzz and goodwill among loyal guests, benefiting restaurants in the long-run.
While delighting guests is still the most effective way of encouraging their loyalty, it is not always the most sustainable strategy.
Happy Hour Program can help you to identify slow billing hours of your Restaurants so that an Offer can be launched to motivate the Customers to walk-in at that Time and increase the Restaurant’s Revenue.
It also encourages New Customers to come and engage with your Restaurant which will eventually result in the Growth of the Business.