Customer Rewards Program – Ultimate Way to Boost a Restaurant Sales
Rewards programs have been given new recognition in recent years for several reasons. Competition among restaurants is quite high and there are different types of restaurant establishments like a food truck, fine dining, casual dining, etc, but the common thing that all are striving for is, to retain customers. It’s always important to analyze the trends and plan ahead. Therefore, the right restaurant loyalty program can help you encourage and motivate the customers who are already likely to revisit you.
Why is Customer Loyalty Program important for Restaurants?
Restaurant industries are working harder to acquire customer engagement and it’s not easy for everyone. A loyalty program helps in retaining existing customers as well as new customer acquisition.
As per a study by Oracle Hospitality, 52% of consumers will recommend the restaurant to others they are most loyal. Loyalty programs also encourage customers to keep coming and purchase more. Furthermore, a returning customer will spend 67% more money than a new customer.
The challenge lies in retaining and converting customers into loyal ones who will visit you often. That’s simply because people like getting rewarded. If big brands are doing the same then why not a Restaurant?
How Rewards Program work?
A rewards program is nothing but a percentage of the amount spent is paid back to the customer as a loyalty bonus. Customers spend more when they feel their purchasing with you is worth for money. It stimulates a positive dining experience that customers are looking for with a restaurant and drives them to spend more.
Restaurant Loyalty Program to Boost Sales & Customer Retention:
One of the greatest advantages of having a loyalty program for your restaurant is that it helps turn your existing customers into brand advocates. There has to be some gratification and value that customers get out of it, redeemable points and discounts are some of the easiest ways to reward the customers.
However, a more customized approach is always recommended, so you must evaluate, what is it that your customers value? And then create value-focused loyalty rewards that best suits your audience. Redtie introduced rewards programs that reward customers with units of TieCoins which they can collect and cash them out using Venmo or PayPal.
TieCoins is the currency of the reward programs. These rewards units are directly redeemable for cash. When a customer needs to cash it to $, they can go to www.tiecoins.com and initiate the “Sell”. The cash is deposited using Venmo or Paypal.
Getting started is easy, sign up at www.getredtie.com, create an account, write short and to the point text messages determine how many TieCoins to attach to a message and send, it’s that simple.
It’s no secret that great food and great service have a major impact on restaurant ROI. Offering customer rewards programs is a great way to get more loyal customers and keep your brand top of mind. In the sea of many restaurants, don’t forget to stand out and make your customer experience unique in any way possible with Redtie.