Más contenido relacionado Similar a Top 5 Ways to Optimize Your Loyalty Strategy (20) Top 5 Ways to Optimize Your Loyalty Strategy6. ©FULL COURSE LLC
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● Current Vibe: Industry Trends
vs What Consumers Want
● Making Your Case: Why
Loyalty Matters
● Where to Focus: 5 Strategies
for Optimization
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How some of the hottest brands have recently
upgraded their loyalty programs
• Faster & more customized rewards
• Emphasis on personalization & customization
• Surprise & Delight
• Exclusive deals & content
• Referral strategies (i.e. gifting to friends)
• Paid subscriptions
• Tiered Memberships
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● 86% of consumers rank transactional outcomes
as important*
● Transactional outcomes include:
○ Financial benefits to drive acquisition
○ Monetary savings (offers, coupons)
○ Supporting the adoption of transaction-
based behaviors
● 83% of consumers ranked program simplicity as
important. All other features ranked far
behind.*
○ Just 19% of companies describe their own
loyalty programs as easy to understand.**
*Source: Deloitte, Beyond the Punch Card, 2022
**Source: Deloitte Digital, 2024
Consumer want the basics - not the flashy
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Understanding a guest’s lifetime value
● It now costs 15x more to recruit a new
customer than to keep an existing one*
● A 5% rise in loyalty can raise lifetime value
per customer by as much as 76%.*
● Loyalty customers are 6x more likely to:
○ Engage with your brand
○ Pay attention to your advertising
○ Buy (& re-buy) your products or
services
○ Resist price-based competitor offers
○ Recommend you to others
○ Give your brand the benefit of the
doubt in uncertain circumstances
*Source: Brand Keys, Customer Loyalty Index, 2023
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More on lifetime value…
● FOCUS ON HEAVY USERS
○ The rule of thumb is 25% of customers are
responsible for 50% of sales.*
● THE ABILITY TO EARN REWARDS DRIVES VISITS
○ 69% of shoppers say that their choice of retailer is
impacted by where they can earn loyalty and
rewards
● LOYALTY MEMBERS SPEND MORE
○ In 2022, active loyalty members boasted 5%
increases in check size as compared to non-loyalty
members.
● LOYALTY MEMBERS VISIT MORE OFTEN
○ Loyalty programs were responsible for an 18–30%
percent increase in spend and visit frequency.
*Source: Loyalty Outlook 2022: 4 Maneuvers to transition from Survival Mode to Strategic
Powerhouse
**Source: Paytronix, Loyalty Report, 2023
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Keep it simple, silly
● Easy to navigate
● Easy to understand how it works
● Mirrors the in-store experience
○ Consider customization, upselling
● Include a feedback loop
● Deliver the VIP experience
○ Curbside, contactless payment, saved
orders
● Optimize guest recovery
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SMART goals are Specific, Measurable,
Attainable, Relevant & Timely.
● ACQUISITION
○ In order for loyalty to make a meaningful impact, you
need your heavy users enrolled.
○ Consider onboarding offers supported by paid media
○ Loyalty exclusive events & offers.
(i.e. Carl’s Jr)
● RETENTION/FREQUENCY
○ Need current guest frequency data.
○ What % of your database is 1-and-done?
○ Rewards 2 and 3 need to be compelling and quick to
earn to drive frequency/create habits.
● COST PER CUSTOMER
○ Measure the discount, total ticket amount and
frequency to ensure your margins remain intact
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● Beyond discounts, offer perks and experiences: charitable contributions, events, hidden menu
items, new product exclusives (i.e. Ihop)
● Consider tiers
● Strategic partnerships to drive emotional connection.
● Allow guests to choose their own reward
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Make it Personal
● Create and use audience segmentation:
○ Parents
○ Health-conscious
○ Weekend vs Weekday visits
○ Lapsed customers
○ Heavy users
○ Geography – weather, sports
● Customize timing, offer, message
● Test & Measure
Use the data you have. Remember,
if this is true, what else is true?
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Loyalty is not a marketing thing – it’s a
brand thing. Everyone needs to buy-in.
● Have an exit strategy
● Demand tech integration
● Own & use your data
● Train your frontline
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1. Nail the basics
2. Set SMART goals
3. Redefine value
4. Make it personal
5. Execute flawlessly
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