The food and beverage industry is a very booming sector. The reason is obvious, people enjoy eating and drinking either alone or in social occasions. However, with dozens of cafes, bars and restaurants in every corner, the competition is fierce. As a result, a loyalty program could be the key to the success of a business.
Due to the nature of the products, the repurchase of food and beverages is a given. whether you have a physical store or an online store, a loyalty strategy is the perfect solution to provide a quality shopping experience to customers, making them come back again and again.
As the price of drinks and food is relatively low, in order to make a profit, the purchase of products must be made with great frequency. As customers can’t try the product before they get it, success also depends largely on the regular customers who will promote your products by word of mouth.
The food and beverage industry is also one of the largest image-based industries. People are more likely to choose a flawless yellow banana than one that is wrinkled and brown. Implementing a loyalty program that rewards customers for using social media to share their experiences opens up the possibility for new customers to influence you to buy your products.
Along with social media, reviews are another great way to prove your worth. Potential buyers are more likely to make a purchase from a store that offers customer reviews, making your customers’ opinions about your products primarily relevant to acquiring new customers.
A great idea to increase the number of repeatedly returning customers is to offer your customers the opportunity to redeem collected loyalty points and get rewarded with discounts or free products. Your customers will be fascinated by the idea of saving money on their purchases and you will be able to increase the amount they spend per order, encouraging them to buy more to save more.
So, in short, what does it take to create the most efficient loyalty program in the food and beverage industry?
1. Develop a strategy that offers a great shopping experience to your customers.
2. Reward your customers when they promote your products on social media and when they write reviews emphasizing the benefits of your products to potential customers.
3. Provide many different ways for your loyal customers to earn points.
4. Offer rewards that push customers to spend more money on each transaction.
Follow these tips and you will be equipped to create a loyalty program that even Starbucks will envy!