A key aspect of designing and managing your loyalty programme is setting its reward values – determining how much to give back to your loyal customers in recognition of their valuable behaviours.
This takes careful consideration. Giving too little does not motivate them to change their behaviours, but giving too much might chip away at your profits.
So how generous should you be?
Many customers ask is there’s an ideal setting for a loyalty programme rewards structure. You want guests to be happy with the benefits, visit more often and stay with the programme – but you don’t want to affect the programme’s return by seeing costs rise too much.
Your loyalty programme works hand in hand with your restaurant epos system to help you offer the best in customer service and engagement. By understanding – and enhancing – a guest’s behaviours, you can create the kind of experience they will cherish while building your revenues and reputation.
In our new guide, compiled with information from our world-leading customer experience partners Paytronix, we reveal how to map out the profitable reward zone for your business.
We’ll help you understand these 5 important reward elements:
- How guests value the rewards you offer, and why this matters
- The relationships between reward level and visits, spend and membership
- How this affects the programme’s profitability
- Where you should set your reward structure, given your variable food and labour costs
- How to use loyalty programme optimisation curves to your restaurant’s benefit
Conclusion – reward levels that make sense
Setting rewards? It’s not an exact science. But understanding the many factors that impact your programme’s return will help you set reward levels that make sense.
It’s important to understand the range of optimisation that is available to you. Once you know that, you can set your core programme reward at a level that allows you to enrich it from time to time, maintaining a high level of member involvement and engagement.
Discover how to optimise your loyalty programme return to benefit you and your customers. Download the free guide now.