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Did you
know ?
To escalate the business, restaurants should not only
focus on achieving customer satisfaction but also
customer retention and loyalty that can be boosted
through loyalty and reward programs. These factors
are essential for restaurants to survive a pandemic
and prepare for the post-covid competition.
1
BENEFITS OF LOYALTY & REWARD PROGRAMS FOR
<<< SWIPE
RESTAURANTS IN FACING POST-PANDEMIC ERA
Increasing Conversion
Rates and Saving Cost
Loyal customers spend 67% more on average than new
customers. Acquiring new customers can cost at least five
times as much as retaining existing customers. In difficult
times like this covid pandemic, customer loyalty program
members can provide added value to the restaurant.
2
BENEFITS OF LOYALTY & REWARD PROGRAMS FOR
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RESTAURANTS IN FACING POST-PANDEMIC ERA
Building Personal
Relationships
Building an emotional bond and making customers feel loyal
show how much we value them. Through loyalty and reward
programs, we can find out who shops from us and how we
can better tailor service to their needs.
According to loyaltylion.com
data, 66% of people will
join a loyalty program if it
builds an ongoing
relationship. By making them
Laura Au feel cared for and valued
through loyalty and
rewards programs, we
will start to realize the
longer-term benefits
of their loyalty.
3
BENEFITS OF LOYALTY & REWARD PROGRAMS FOR
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RESTAURANTS IN FACING POST-PANDEMIC ERA
Lowering Customer
Acquisition Cost
Indirectly, loyalty and reward programs create "brand
advocates", the ones who will refer the store to their friends,
family, or their followers. Past studies show that at least 92%
of people trust word-of-mouth (WOM) recommendations from
friends or family more than any other form of marketing.
4
BENEFITS OF LOYALTY & REWARD PROGRAMS FOR
<<< SWIPE
RESTAURANTS IN FACING POST-PANDEMIC ERA
Summary
From the explanation above, it can be concluded that loyalty
and reward programs bring many benefits for restaurants. This
is a great breakthrough for restaurants to survive this
pandemic and prepare for post-pandemic competition.
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