Great value can be found when investing in the dining experience. From the right ambiance to courteous service, no detail should be left untouched. A seamless dining experience leaves guests wanting more and coming back to recapture those same senses and emotions. The goal of financial investments in a restaurant’s aesthetics and dining experience should ultimately increase revisit rates and guest loyalty. To ensure the greatest ROI, businesses should consider adding a rewards program to their menu. More and more, consumers are using grocery stores and retail chain loyalty programs. The success of those programs has consumers looking to their favorite restaurants and wanting the biggest bang for their buck without compromising their palettes. In a recent study by Loyalogy, provider of loyalty program analysis and data mining services, appealing restaurant rewards programs boost consumer visits by 35 percent and are recommended to others by three-fourths of consumers (73 per cent).
Here are some tips from Loyalogy’s findings to create an incentive and successful restaurant rewards program:
Although surprises may be exciting, it may not be the case when it comes to restaurant rewards programs. The study found that 86 percent of consumers prefer earning incentives based on spending or visits rather than periodic, surprise free items. Restaurant rewards programs that offer points which convert to cash spent at the restaurant are preferred by 43 percent of consumers.
Consumers were found to favor rewards programs with a simple enrollment process and the possibility to provide additional information online at their convenience. A majority (75 percent) of respondents are enticed to sign up for rewards program memberships that are honored at multiple restaurant chains. In fact, having such memberships can help streamline the program and encourage visits to all restaurants.
Loyalogy categories this group as individuals between the ages of 25 to 34 with a household income of $75,000 or more. This demographic visits restaurants 40 percent more, and they participate in more than twice as many restaurant programs than the overall population. Restaurants targeting this generation should consider running their program through a smart phone app, a preferred method by a majority of Millenials with Means (57 percent).
Today’s consumers are looking for more in a dining experience. With a rise in retail loyalty programs, the restaurant industry should follow suit in this trend to increase revisit rates. The implementation of a rewards program can be a pricey investment but, when executed correctly, yield great returns. Understanding consumer demographics and their desires along with simple applications should be top of mind when planning a restaurant rewards program.