Welcome to the weekly roundup: a compilation of news, ideas and learnings from the SessionM world.
Quote of the week:
“QSRs can no longer afford to ignore restaurant loyalty programs. Increasingly, they are a key factor in keeping customers, offering them incentives not just to return, but to spend more. However, just having a loyalty program in place is not enough. The programs must also be easy to use and responsive to customer feedback, and they must take advantage of digital technology to offer customers a fun, easy and personalized experience. -Forbes, Restaurants Serve Up Loyalty Programs to Combat Competition
In the restaurant world, customers are quick to jump ship if someone else gives them a better discount, or coupon. The Forbes article quoted above discusses what restaurants can do to keep loyal customers as the pressure and competition increase. The first solution to this problem is that restaurants need to offer a rewarding dining experience. Their tips to do so? Make it up to date, make it engaging, make it personal and make it interactive. While all of those are important, another factor that should not be overlooked is building brand trust. You do that, and you’ll always be one step ahead of the competition. Check out our recent blog on the topic!
What is RTIM?
Looking to connect with your customers on a 1:1 level, at the moment of impact? That’s called Real Time Interaction Management (RTIM). Being able to provide an optimized response in real time is something many brands would love to accomplish. Check out our recent blog post to learn more about RTIM, and best practices you can follow to be successful at it!
Your favorite loyalty program just got better
Starbucks is already thought of as the King of Customer Loyalty. With 16 million active members, and Starbucks Rewards accounting for 40% of transactions in the U.S. stores, one would wonder why they are thinking of revamping their loyalty strategy. However, even though they are keeping their loyal consumers coming back, they realize they need to focus on their occasional visitors. How can they get their somewhat frequent shoppers to come more often?
Starting April 16th, the new Starbucks Rewards will launch as a “tiered rewards structure” giving customers two stars for every dollar spent, and the chance to redeem their stars for items other than just a free cup of coffee. Adding these benefits to customers are little things that make their experience a bit more personalized and different from other loyalty programs out there. In the MarketWatch Article, VP and Research Di rector at Forrester said “It’s incredibly hard for brands to maintain a differentiated program”. Starbucks is a prime example of a brand that is thriving, seen as a leader in the loyalty space, and rather than accepting that, keeps innovating to stay on top. If you want to take a page out of their book, give us a call ;).
Scaling isn’t always easy
Growth can be hard. With more clients, come more expectations. Good thing SessionM Buttresses 100% YOY Growth with Major Investments in Delivery Resources. Our goal is to help our customers derive value as quickly as possible with our platform, and we’ve been investing in top talent and delivery resources to do so.