If you are thinking to launch a “Loyalty & Reward Program” to revive your dying food business (Restaurants, Coffee Shop, Pizza Stores, Burger Shops, Sweet Shops, Ice Cream Parlours etc), and still there are crazy questions are remained un-answered such as:
- Do you really think introducing “Loyalty & Reward Programs” will bring more customers at your door steps?
- Do you really think that people cares for your reward points rather their safety in this pandemic situation?
- Do you really think that Big Brands only survive due to their loyalty & reward point systems?
- Which strategy is more successful for implementing a “Loyalty & Reward Systems” with my existing business?
The most sarcastic answer is –“It depends…!”. But let’s explore this uncertainty of this answer to understand how you can make your reward point successful.
First basic rule on any marketing strategy is to determine size of your audience as it will make you aware that it doesn’t matter you run any reward program for your single restaurant if your population of town/area is too small, it is going to fail. Instead, give them direct discount on less selling products, make combos, run different offers at regular intervals.
Second rule says that if you complicate the things, customers will go away instead of coming to your restaurant. If you design reward point (For Example, Buy Big Get Small Return) such that your customers feel cheated than it will decrease your footfall.
Third key point is consistency of reward system where if you are changing so many rules for your reward point system then every time your staff needs to explain it to customers which can create trouble with trust of customers with your brand. So visualize a long term rules from inception of reward system and wait for the success.
Fourth point is to give some personalization to customers. Everyone loves to get personal gift, don’t they! If your loyalty system is well defined with effective communication (SMS, Email etc) then it will surely give you growth in repeat customers.
Let’s summarize few good points which make your loyalty & reward point system a chance of success:
- Keep reward point as simple as possible so that customers can understand it better
- Provide clear communication, diverse and creative offers
- Make sure you remain consistent with your loyalty & reward point system
- Apply adaptive approach to reward system as no fix strategy will win you repeat customers
We also appreciate if you can write down your suggestions to us if we have missed anything. We wish everyone a speedy recovery to your business & this new loyalty & reward system can bring more profit to you.