Holiday giving is emotional. Consumers scour the Internet on Cyber Monday for the perfect gift to wrap carefully under the tree waiting in anticipation as gifts are opened; “Do they like it? Did I pick well?”
Loyalty programs are an extremely popular way for restaurants to stay connected with their customers and keep them coming back. However, developing a sustainable, successful loyalty program for restaurants is no easy task. In fact, only 30% of restaurants offer some type of loyalty program. And for those that do offer a loyalty program, many restaurants and franchisees have no way of knowing whether their programs are effective in terms of retaining customers and providing value.
Marketers leverage data attributes on consumers related to household purchases, demographics, interests, and self-reported information to better understand consumers and acquire and attract new prospects. As brand stewards, it’s imperative to ensure that the third-party data is qualified, properly sourced and relevant. For example, if you’re a brand in the travel industry trying to increase awareness of your new cruise ship offerings, you might look at a segment of consumers who often purchase international flights. But do you really know where this data is coming from? And is purchasing data based on one segment alone the best strategy?