Thanx, a leading guest engagement and retention platform for brick-and-mortar retailers, today announces the launch of several new capabilities ahead of their upcoming Loyalty 3.0 reveal in 2022, a response to what Thanx has coined “the loyalty revolution” happening in restaurant and retail.
The forthcoming Loyalty 3.0 initiative features intuitive tools for activating customer data while offering unprecedented flexibility and customizability over loyalty program architecture, making it easy for brands to create distinct experiences tailored to the individual. Thanx’s decision to revamp their loyalty platform coincides with the loyalty revolution taking the restaurant and retail industry by storm.
“While the concept of loyalty is certainly not new, for many retailers, especially restaurants, the COVID-19 pandemic shined a light on the importance of capturing customer data. The flood of new programs to the market including the recent program launches of McDonald’s, Wendy’s, Burger King, and Popeye’s, highlight the importance of differentiating and personalizing the guest experience to better serve individuals,” says Zach Goldstein, founder, and CEO of Thanx.
While most of the details behind the Loyalty 3.0 announcement will not be released until December, Thanx is announcing select capabilities available to customers today, including Lifecycle Insights and Recommendations and Automated A/B Testing.
“As part of our mission to make personalized loyalty and marketing easy, we want to offer these new capabilities to our customers as quickly as possible and to share a sneak peek of what’s to come in the new year,” says Goldstein.
With Lifecycle Insights and Recommendations, Thanx identifies the highest impact areas of improvement in a merchant’s conversion funnel and recommends the best ways to improve customer lifetime value. Lifecycle Recommendations quantify conversion rates and make suggestions based on real revenue implications. For example, alerting merchants to the opportunity to generate $50k in revenue by converting 3% of trial customers to active status.
Thanx’s Automated A/B Testing gives merchants the ability to A/B test complete messaging, offers, and distribution channels and then automate the winning variant with one-click, eliminating the time, guesswork, and manual work required with other tools. Thanx allows you to automate and fine-tune the entire customer journey and in doing so, iteratively increase revenue per customer and reduce unnecessary promotions.
Jennifer Faren, VP of Marketing at Hopdoddy Burger Bar explains “Our customers expect interactions that are relevant and personalized, but up until now, 1:1 marketing has been difficult to do at scale without a big team. Now, with Thanx, we can understand our current customers as individuals, test our assumptions about how to better serve them, and then quickly automate what works without a major effort that takes us away from other initiatives.”
The new capabilities available today allow any brand, regardless of size, to conduct sophisticated marketing without a team of data scientists. “The massive benefits of personalized loyalty shouldn’t be confined to big brands like Domino’s and Starbucks that can afford large IT and data science teams,” says Goldstein. “Digital revenue is growing but digital teams are not, so these capabilities are especially timely given the massive labor shortages the industry is facing across the country,” he continues.
By eliminating the guesswork and making personalized marketing easy, brands can focus on what they do best: deeply understanding their customers and delivering them value.