This article was originally published in QSR Magazine on June 1, 2022 and can be found here.
Modern-day consumers expect two things to have a great experience: convenience and instant gratification.
According to data from PYMNTS, 43 percent of consumers are more inclined to shop with restaurants that offer loyalty program rewards, well ahead of online ordering ability and drive-thru pickup options. Personalization and loyalty are key in the quick-service restaurant industry, which is why restaurants are looking for ways to reshape the way they connect with their customers.
A mobile-first approach centered around mobile wallet allows brands to engage customers in real time, while also providing relevant offers that entice customers to return. Specifically, mobile wallet provides customers with quick, easy access to loyalty rewards programs and delivery of targeted marketing that drives more purchases, more often.
Make loyalty rewards programs easily accessible and convenient
Seventy-five percent of loyalty program members will actively engage with a rewards program if they can access the program easily from their phone. With this in mind, mobile wallet is the perfect way for quick-serves to attract and retain users to a loyalty program because the mobile phone is so convenient. Quick and convenient, mobile wallet makes it possible for quick-service brands to increase participation in a loyalty program, increasing redemption rates of accumulated loyalty points, ensuring activation leads to sales.
Using their phones, members can view their points balance and available rewards, pay for purchases and earn points through a transaction—all in real time. McDonald’s is an example of a brand whose mobile loyalty program gained widespread adoption. With MyMcDonald’s Rewards, customers earn points with each dollar spent. Loyalty members can redeem points for menu items or upgrades, and, through the McDonald’s app, access perks such as one-tap reordering or special menu items.
By creating a solid and easily accessible loyalty program that meets customers’ needs, quick-service restaurants can build quality relationships with each individual. Mobile wallet increases both conversion and activation by giving restaurants the ability to send personalized, timely and relevant messages that encourage shoppers to utilize their loyalty points.
Simplify the ordering experience to delight customers
Mobile wallet is a powerful channel that allows quick-serves to create a seamless experience that increases customer loyalty. That’s because mobile wallet streamlines the process surrounding a purchase, making it easier for the customer to order. This also drives more customers to return to a brand using mobile wallet, instead of visiting a competing restaurant.
With mobile wallet, brands can set unique, in-store-only offers through multiple digital channels to increase foot traffic. Mobile marketing also makes it possible to activate geolocation for customers depending on where they’re at. For example, mobile wallet can automatically place a customer’s lunch order with just a few taps, creating a convenient experience for the user.
Drive more purchases with targeted marketing
Mobile wallet gives quick-service restaurants the power to track customer behavior, making it easier to deliver more targeted messaging to customers. For example, say one week a customer is near a restaurant and gets notified of an offer for free chips and salsa. When they visit the restaurant to redeem that offer, they also decide to order a drink. Later, the restaurant can present that same customer with a new personalized offer: earn 2x the points on the total order and redeem a free drink. But not just any free drink, it’s the same drink they purchased during their last visit when redeeming the free chips & salsa offer.
For every personalized mobile wallet notification sent, quick-serves get updated customer data. As a result, brands can send follow-up content that is relevant to the customer. Investing in targeted marketing is far more cost-effective than mass marketing, and timely, personalized content increases the likelihood of repeat purchases.
A restaurant concept can also use mobile wallet to add a customer's personal information in the content of a message, or send them a promotion based on their own personal taste, such as preferred meals, usual time of visit and frequent add-ons. This drives purchases by creating stronger relationships with customers based on personalization.
Make dining more convenient with mobile wallet
Modern-day consumers expect two things to have a great experience: convenience and instant gratification. With mobile wallet, they get both.
With a mobile wallet strategy in place, quick-service restaurants are equipped to engage with customers and personalize the overall dining experience. They can also provide customers with easy access to loyalty programs, delivering instant rewards and engaging customers in real time, as well as increasing sales.
