Marketing

Thanx adds 4 reporting dashboards

Provided

August 8, 2023

Thanx, a loyalty and guest engagement platform, has debuted four automated reporting dashboards designed to accurately measure and improve loyalty program performance.

The latest business intelligence reporting is part of the company's year-long push to help clients move away from discount-heavy legacy rewards programs, according to a press release.

The four dashboards are:

1. Thanx Capture Rate measures how effectively brands are reaching customers by calculating the percent of total revenue attributed to a known member.
2. Thanx Activation Rate measures the new guest impact of a brand's loyalty program by calculating the percentage of first-time customers who make a third purchase within 120 days. In measuring activation — including conversion rates at first, second and third purchase, and at different time intervals — brands can better measure efforts to convert one-time customers into repeat guests.
3. Thanx Retention Rate measures the stickiness of returning guests enrolled in loyalty, shining a light on the effectiveness of retention efforts once guests become regulars.
4. Thanx Effective Discount Rate clarifies the actual cost of a loyalty program and how efficiently marketing is driving customer change. Thanx customers use EDR to monitor the financial impact of promotions on customer behavior and can use Thanx Non-Discount Rewards such as industry exclusive Hidden Menu functionality to directly decrease EDR without sacrificing activation or retention.

"Loyalty programs continue to be a critical part of the overall revenue strategy for restaurants. But it's also a big investment that must explicitly demonstrate ROI. There are some solutions that are much cheaper than Thanx, but they offer no proof of driving profitable customer change; at Thanx, we put our money where our mouth is," Zach Goldstein, CEO and founder of Thanx, said in the release.