Rewarding loyal customers are the backbone of any business. They are the ones who keep coming back, even when there are new competitors on the scene. They are also the ones who are more likely to spend more money and recommend your business to their friends.
In the Food & Beverage industry, keeping up with the market trends, while retaining the old customers is quite a challenging factor. As per a post by Harvard Business Review, to get one new customer costs 5 to 25 times more than it does to retain an existing one.
According to which, if it costs $250 to acquire a new customer, on the other hand, it would cost $10 to retain a current customer
Most of the loyal customers to a restaurant are the ones who have been with it since its launch, and throughout its journey. It is no wonder that loyal customers are the reason, and the ones, who help the restaurants climb stairs to success.
Thus, in order to be in the business for a long period, paying gratitude to the loyal customers is really important, which requires an emotional bond to be built with the customer.
In order to pay gratitude to their loyal customers, many restaurants use the following traditional methods:
Social Media Shoutout: In this method, a restaurant tries to capture the special moments of their customers, i.e. birthdays, anniversaries, family get together with camera and post the pictures in social media, giving the customers a shoutout.
Complimentary Meals: Here a restaurant makes sure to add something complimentary to the meals of their loyal customers, every time they dine in.
Giving Discounts: This is the most common method that restaurants follow to retain their loyal customers.
Making special events more special: Here a restaurant makes sure to remember the important dates such as birthday, anniversary of their loyal customers. And thus, they may give them a cake when they visit on such special occasions.
Why reward loyal customers?
There are many reasons why you should reward your loyal customers. Here are a few of the most important:
- To show your appreciation. Your loyal customers are the ones who keep your business afloat. They deserve to be shown your appreciation.
- To encourage repeat business. When you reward your loyal customers, you’re more likely to get them to come back again and again.
- To generate positive word-of-mouth. When your loyal customers are happy, they’re more likely to tell their friends and family about your business. This can lead to new customers and increased sales.
- To create a sense of community. When you reward your loyal customers, you’re creating a sense of community around your business. This can make your customers feel more connected to your brand and more likely to stay loyal.
However, with the digitisation of the Food and Beverage industry, we are not limited to having dining out loyal customers, but ordering online as well, which need to be treated equally special.
It sure has been a challenge to find out ways of treating such loyal customers special, and that is where TechRyde comes in the picture and helps your restaurant recognise loyal customers, and to treat them special.
TechRyde AnyPOSconnector is fully integrated to third party loyalty and CRM systems, and restaurants can leverage all loyalty features by enabling offers, promotions and campaigns for their guests
Rewarding your loyal customers is a great way to show your appreciation, encourage repeat business, and generate positive word-of-mouth. There are many different ways to reward your loyal customers, so find something that they will appreciate and that fits your budget.