We look at the new feature in our Restaurant CRM system, the dynamic Restaurant Customer Loyalty Graph. A Customer Loyalty Graph shows you the degree for which your customers are currently repurchasing from your Restaurant. It is a great indication that you are providing great food, great value and great experiences.
What are you doing to move your customers to the right on the Customer Loyalty Graph?
Posted by Marketing4Restaurants on Monday, 17 December 2018
This is a great way for Restaurants to visualise the effectiveness of their loyalty programs and see the effectiveness of changes that they are implementing.
Why is the Customer Loyalty Graph so important?
There are a couple of ways to increase Long Term Customer Value (LTCV). You can:
- Increase the amount that each customer purchases.
- Increase the frequency with which each customer.
- Increase the number of times that a customer buys from you.
The LTCV dictates how much you can pay to acquire a customer. Small take outs, like Fish and Chip shops often have very high LTCV because customers can purchase a moderate amount, quite often (weekly) for a long time (often they stay customers until they move!)
Understanding LTCV is the first step in truly understanding customer loyalty.
How to move customers to the right on the Customer Loyalty Graph.
There are a couple of ways to increase loyalty and long-term customer value.
Firstly, there are loyalty programs, like FROLO’s buy X get 1 free meal offerings. These work well because every email confirmation for an order restates the benefits of loyalty.
Thank you for your 5th order. You are only 3 orders away from your loyalty discount, which is currently $40.
As customers accrue a higher loyalty discount, they are increasingly likely to order and sometimes order more frequently.
Retargeting is also a useful tactic, either by email, SMS or through Facebook, reminding the customer that they should reorder is a simple tactic to infrequently used.
Bespoke offers to existing customers also another way to make your customers feel special and be increasingly likely to move to the right.
What products feed into the Restaurant Customer Loyalty Graph?
Currently, we are building the Customer Loyalty Graph to support:
Not only do these save money compared to many competitor systems, but they also collect emails and provide a lot of important information about your customers. The Customer Loyalty Graph is a great way of visualising that information.
As more products are added to the Restaurant CRM Suite, we will add more aspects to the Restaurant Customer Loyalty Graph.