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Tiered loyalty schemes drive almost 3 times more yearly spend than ‘one off’ offers

Tiered loyalty schemes serve up almost 3 times more value per customer for food and beverage (F&B) brands when compared to ‘one off’ email offers or discounts according to new data.

The study, from loyalty tech firm Coniq, analysed over 169,000 transactions made by 57,000 loyalty customers across bars, grab and go F&B outlets and restaurants.

it identified that brands offering tiered loyalty schemes, which unlock rewards based on levels of spend, drove 2.6 times more in average yearly spend (£58.36) than those driven by one time offers (£22.29).

Coniq’s research also found:

  1. Brands offering tiered loyalty schemes, which unlock rewards based on levels of spend, drove 2.6 times more in average yearly spend (£58.36) than those driven by one time offers (£22.29)

  2. Tiered loyalty schemes serve up almost 3 times more value per customer for food and beverage (F&B) brands when compared to ‘one off’ email offers or discounts

  3. Stamp cards led to more than double the visitor return rates when compared to ‘one off’ discounts, with tiered loyalty schemes again the most successful mechanic at 2.3 times higher

  4. 61% of customers who sign up to a database never return to that restaurant

Coniq suggests that the higher quality of customer data and insight that loyalty schemes are able to gather, allows for greater levels of personalisation enabling brands to tailor rewards based on demographics, buying behaviours and key information such as a customer’s birthday or preferred time of day.

Even simple loyalty mechanics such as traditional stamp cards were found to perform significantly better than blanket, discount-led strategies. The research identified that stamp cards led to more than double the visitor return rates when compared to ‘one off’ discounts, with tiered loyalty schemes again the most successful mechanic at 2.3 times higher.

Sean Curtis, Chief Commercial Officer at Coniq, explained: “Our latest research found that 61% of customers who sign up to a database never return to that restaurant, which starkly highlights the importance of identifying and targeting the 39% who do. In addition, there is huge variation in customer lifetime value, underlining the need to identify, nurture and reward your most valuable and loyal customers.”

“Critical to this is a robust customer engagement strategy; whilst traditional ‘stamp cards’ can support repeat custom by providing incentives to return, they lack the insight needed for brands to forge meaningful – and profitable – relationships with customers that will keep them coming back and incentivise them to spend more. F&B brands need the capability to leverage data to create moments that win engagement and in turn create brand advocacy – this is where technology truly adds value,” he concluded.

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