Interview with Thanx at National Restaurant Association
With NRA 2017 ending today, we wanted to provide a glimpse into some of the conversations that our staff is having in the booth with restaurateurs. The beauty of Thanx is that it works for all types of restaurants, from QSR to Fine Dining. Unlike other loyalty programs, it doesn’t require additional hardware or require staff involvement. Customers simply pay as usual and the magic happens in the background.
The Seven Deadly Sins of Loyalty Marketing
Investing in customer loyalty isn’t just a “check the box” initiative. It can be a businesses’ most powerful marketing channel, as it’s 7x more expensive to acquire a new customer than to encourage an additional visit from an existing customer.
Why Mobile is Not a “Check-the-Box” Initiative — FSTEC 2016
Thanx CEO Zach Goldstein spoke to the theme of “Untangling Tech” at FSTEC 2016 — presenting to restaurant owners and operators, he made a case for why a brand’s mobile presence cannot be a “check-the-box” initiative.
How great customer loyalty programs stand out from the rest
While all brands realize how valuable their loyal customers are, few brands are hitting it out of the park with their loyalty programs — just ask their customers: most consumers actively use less than half of the loyalty programs they’re enrolled in (via Survata).
Restaurant Leadership Conference Key Takeaways
This year, the theme of the Restaurant Leadership Conference was “Disruption” (images from Restaurant Business). Certainly “disruption” is a term that gets batted around by business executives everywhere, so here’s where we felt that the dialogue found its mark.
Why The Chipotle Loyalty Program Isn’t Working
Huge brands like Starbucks, Marriott, and Southwest have all acknowledged the power and value of a having kicka$$ loyalty program (I should know; I’m a member of all three). However, as someone who enjoys more than just the occasional Chipotle burrito bowl, I’ve often wondered why Chipotle has lost touch with its customers in the loyalty department.
Car Wash Customer Engagement with Jimmy Starnes, Wash Me Fast
Figuring out how to improve customer engagement can make or break a multi-location car wash’s future. With more engaged customers, car washes see more frequent visits, higher average spend, and significantly improved lifetime value — i.e. everything required for long-term success
In this video interview, Wash Me Fast Chief Strategic Officer Jimmy Starnes explains exactly how he uses new technology to drive higher levels of customer engagement. Watch to learn specific ways that car washes can use tools like 2-way feedback and winback marketing to increase sales and maximize profit.
Where Customer Loyalty Stands Today
Whether it’s a restaurant buying better meat to improve quality, or a car washpurchasing top-of-the-line equipment to improve satisfaction — every business decision is motivated by making customers more loyal. However,
- If you polled 100 business owners and asked, “Do you care about loyalty?”, only 95%+ would agree, “Yes.” We should see 100% consensus.
- If you asked these same business owners, “Do you care about retention marketing?”, maybe 60% would agree “Yes.” Should be 100% consensus.
- If you further narrowed the question to, “Do you care about loyalty programs?”, you might see 30% in agreement. And yes, consensus here should also be 100%.
There’s only one conclusion we can draw from the above — “customer loyalty” suffers from an identity crisis.
5 Ways to Get More Customers Into Your Loyalty Program
Prioritizing customer signups is the number one way to drive ROI and reap the full value of retention and loyalty marketing. With more customers enrolled, you get more data to execute personalized marketing, which drastically increases overall engagement and sales.
Below are the five easiest, most powerful ways to get more customers and drastically increase your subscriber base.
New Year’s Resolution — Let’s Fix Acquisition Marketing
Frequent readers of the Thanx Blog will know inside and out the benefits of customer retention marketing versus customer acquisition marketing. Essentially, paying money to attract new customers does not make sense unless you can earn repeat visits.
However, merchants continue to be misled about how the economics of acquisition affects their business. Case in point — a recent analysis of customer acquisition from ex Groupon CEO Andrew Mason, and a single reply from an ex-Groupon customer. Let’s take a look, as we unpack our second new year’s resolution about how to solve marketing in 2016 and beyond.
The 2016 Thanx Awards
As the new year starts, it’s that time again — to appreciate what brought us joy in 2015. Our annual custom says to have a glass of something nice in one hand, and a cookie in the other, so arm yourself accordingly.
Here at Thanx we don’t miss out on any opportunity to honor our esteemed users. As we usher in the 2016 New Year, it’s time to celebrate the previous one with the 2nd Annual Thanx Awards. This year’s winners exemplify why engaging with your best customers creates a meaningful impact on your business. Without further ado, we’d like to call special attention to some extraordinary Thanx VIPs!
Commence drumroll….
Fine Dining Strategies for the New Year
Make no mistake — fine dining restaurants’ success comes down to building proprietary data and developing personalized marketing campaigns to drive consistent repeat business.
Of course, the execution of such a straight forward goal requires implementing several best practices relevant specifically for fine dining marketers. In no particular order, here are this year’s three most important new year’s resolutions for fine dining marketers.
Job Shadow Shows Why Culture Matters For Silicon Valley Companies
Sometimes, it’s nice when other people validate the hard work you put in to making sure your company has a culture that puts silicon valley companies on a path toward success.
Read below to see how four Dartmouth students described the Thanx culture during a one-day visit for Dartmouth’s annual “job shadow” event. We’re proud of what we’ve built and certainly excited to see other people feel the same way.
Improving Customer Satisfaction — Maura Feingold
Figuring out how to improve customer satisfaction can make or break the future for restaurants and retailers. With more satisfied customers, brands see more referrals, more frequent visits, higher average check sizes — everything required for long-term success.
In this video interview, Wednesday Seven owner Maura Feingold explains exactly how she uses feedback to delight customers and ensure a top-notch experience at every visit. Watch to learn specific ways that leading brands like Tomatina have transformed feedback and VIP marketing into sales-creating assets.
Apple Pay and Loyalty
Apple has re-branded Passbook and is adding new features in hopes of one day replacing people’s wallets. If it proves a success this time round, Apple Pay and Wallet will be a permanent fixture in the pockets of every consumer and installed in businesses around the world. That’s a huge jump from where we are now, so when will it actually happen?
The convenience culture is the major driving force behind the cashless revolution. From apps that deliver food in under 15 minutes to one-click shopping on Amazon, “quick and easy” is winning the war. Looking ahead, today’s hyper-involoved payment process (e.g. pennies are still a thing) will ultimately be simplified by mobile devices. So, let’s take a look at:
- The future for Apple Pay
- Current gaps and issues with the technology
The Recipe for Marketing Gluten-Free Foods
Back in 2012, Domino’s first announced that customers could purchase gluten-free pizza crust. At that time, people took notice, but the reality is that “gluten-free” has taken on new meaning since then.
To that end, let’s take a look at the current state of gluten-free products, their growth trajectory going forward, and what these insights mean for pizza operators looking to grow their business.
VIP Marketing Solutions Increase Sales 40%
As we’ve covered before, there’s no better predictor of a multi-location, brick-and-mortar business’s long-term success than its best customers. “VIPs” spend more money, they refer more new customers, and they are the best brand advocates – hands down.
Due to VIPs’ importance, every businesses should have a VIP marketing strategy in place. Let’s take a look at the marketing solutions that are best suited to drive sales from VIPs and retain their business (while also being mindful that marketers want to reduce hassle as much as possible).
