How to Increase the Average Receipt Using Loyalty Programs
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The average receipt is the basis for planning and evaluating the profitability of a business. Other things being equal, raising the average check increases the profitability of the entire company. We will talk about one of the methods for raising the average check in this article.
Let's start with how to find out what your average check is. You can take the total revenue and divide by the number of visits. The easiest way to do this is with a CRM system.
Using our platform, you can get information on the average receipt in the mobile app in the Dashboard - Sales section or in the web version in the Staff report in the Sales - Analytics section.
Important. These sections are opened with the Sales module is enabled.
By itself, the average check will not rise. You need to give it a boost. One of these incentives can be a payment bonus - cashback.
A properly configured bonus system can serve both to encourage regular customers and to attract new ones. And also push customers to choose more expensive services and goods.
So, for example, the A company has a loyalty program, under the terms of which a customer will receive an increased percentage of cashback when buying from a certain amount. This amount is not random - it is the average check. For six month the amount increased by 30%. It is reasonable to assume that A has raised its average bill by 30% in six months.
In the DIKIDI system, you can also set up a loyalty program and set an increased cashback for a check amount above the average.
Cashback percentage. Your loyalty program should be beneficial for customers, but not to the detriment of your income. How to calculate the percentage, consider an example:
The goal of the program is to keep the client, increase the visit period, and raise the average receipt.
The average visit period is 6 months. What do you need to keep a client from leaving you? Accumulated reward points. Moreover, for the entire period of visiting, the amount of points should have a weight. For example, to be at least half the cost of your popular service.
Suppose your average receipt is 60 dollars. This means that a customer must receive bonuses of at least 30 dollars in 6 months. The customer comes to you once a month, that is, for 6 months - 6 times. On average, 60 dollars. We calculate interest rate of the base bonus: 30/(60*6) * 100% = 8,3%. Here you can round up to 10%. At the same time, the customer will leave you an amount of at least 360 dollars, and his discount for all 6 visits will be only 30 dollars.
Thus, this customer is attached to you. You will spend much more effort and money looking for a new one!
Let's start with how to find out what your average check is. You can take the total revenue and divide by the number of visits. The easiest way to do this is with a CRM system.
Using our platform, you can get information on the average receipt in the mobile app in the Dashboard - Sales section or in the web version in the Staff report in the Sales - Analytics section.
Important. These sections are opened with the Sales module is enabled.
By itself, the average check will not rise. You need to give it a boost. One of these incentives can be a payment bonus - cashback.
A properly configured bonus system can serve both to encourage regular customers and to attract new ones. And also push customers to choose more expensive services and goods.
So, for example, the A company has a loyalty program, under the terms of which a customer will receive an increased percentage of cashback when buying from a certain amount. This amount is not random - it is the average check. For six month the amount increased by 30%. It is reasonable to assume that A has raised its average bill by 30% in six months.
In the DIKIDI system, you can also set up a loyalty program and set an increased cashback for a check amount above the average.
Cashback percentage. Your loyalty program should be beneficial for customers, but not to the detriment of your income. How to calculate the percentage, consider an example:
The goal of the program is to keep the client, increase the visit period, and raise the average receipt.
The average visit period is 6 months. What do you need to keep a client from leaving you? Accumulated reward points. Moreover, for the entire period of visiting, the amount of points should have a weight. For example, to be at least half the cost of your popular service.
Suppose your average receipt is 60 dollars. This means that a customer must receive bonuses of at least 30 dollars in 6 months. The customer comes to you once a month, that is, for 6 months - 6 times. On average, 60 dollars. We calculate interest rate of the base bonus: 30/(60*6) * 100% = 8,3%. Here you can round up to 10%. At the same time, the customer will leave you an amount of at least 360 dollars, and his discount for all 6 visits will be only 30 dollars.
Thus, this customer is attached to you. You will spend much more effort and money looking for a new one!