Zach Goldstein is the founder and CEO of Thanx Inc. Thanx is a mobile customer loyalty program that makes the loyalty process effortless for both restaurant owner and guest. Thanx is a full-featured, incredibly robust loyalty program that requires no hardware and no point of sales integration. Thanx is a free-standing, highly customizable app that focus on only rewarding your must loyal customers, where as most rewards programs just off discounts to all of your customers. Zach explains how Thanx has a seamless ease of use for both operator and guest. He also explains how Thanx has an unconventional ability to convert regular customers into loyal customers. He explains that a 5% increase in customer retention can increase profitability by 100%.
Success quote mantra
“The irrational passion can overcome any obstacle.”
In this episode we discuss:
- The features Thanx has that separates it from other rewards/loyalty programs. Zach explains what “full featured” and “highly customizable” means.
- How Thanx builds “deeper” relationships with your customer.
- The Thanx company history.
- How a small change in your VIP spending habits can have a HUGE impact on your bottom line. A 5% increase in customer retention can increase profitability by 100%
- How you can use Thanx to build deeper relationships with your guest after they walk out the door.
- How asking for feedback develops loyalty. Asking your customer, “how was your experience?” has a 7% increase in customer visit frequency. If you actually take the time to respond, that number doubles to 14%.
- Why having a highly targeted loyalty program is more impactful.
- How Thanx makes data from credit card processors available to you, with no new hardware integration necessary.
- The difference between the “rewards” program built into your POS system, and a true “loyalty” program like Thanx.
- How Thanx allows the restaurant to retain it’s brand with the Thanx App.
- How Thanx
- Integrates with online ordering.
- Works seamlessly with any POS.
- With quick-service, fast-casual, and full-service. As well as with both multi-unit and single-unit locations.
- Uses different prices structures based on what you need and what.
An explanation as to why a seamless loyalty program matters
Thanks for Listening!
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Huge thanks to Zach Goldstein for joining me for another awesome episode. Until next time!