A metric-driven implementation of a restaurant's loyalty program will bring a focus on the business's objectives as well as accountability around the program's implementation.
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In today's world, one need not explain the benefits of having a loyalty program. A restaurant's profits increase with an increase in loyal customer base, and the more loyal customers a restaurant has, the more potential it has to grow.
A loyalty program that allows the customer and the business to understand each other better, and makes the customer feel valued and important is crucial for the success of that program. However, prior to any steps taken with the implementation of a loyalty program in a restaurant, one must be familiar with its goals, measurement approaches and how to adapt the program so that the restaurant can see results.
A metric-driven implementation of a restaurant's loyalty program will bring a focus on the business's objectives as well as accountability around the program's implementation. One has to focus on both quantitative and qualitative metrics and how these metrics can be measured to gauge the effectiveness of these programs.
Quantifiable, or "hard" metrics are numbers-driven and data based, which can be measured through various means including POS sources, a loyalty program dashboard, online ordering and other sources. Through the collection of quantitative points, hard metrics provide restaurants with numbers that indicate the level of success that business is achieving in its goals. So, depending on the kind of loyalty program being implemented, an restaurant operator can come up with appropriate metrics and a measurement methodology to analyze that data to make the most business sense.
Here are some examples of different approaches, dependent on the data set involved.
All that said, a restaurant's loyalty program success also must take qualitative measurement — known as "soft" metrics — into account. Here, subjective data is used to determine success rates for the brand.
Some examples of soft metrics in a restaurant include — but are not limited to — staff training, ease of loyalty program enrollment, sign-up offers and marketing campaign effectiveness. Soft metrics focus more on the qualitative aspects of a restaurant and its growth.
A customer-centric marketing approach in the modern restaurant industry is what helps a restaurant thrive. Attracting new customers and adding to the restaurant's loyal customer base will lead to positive trends and increased levels of success.
By obtaining and measuring metrics for your brand and then building upon them, restaurant leaders get a clearer vision of what to focus on and how to help their brand succeed.
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