Technology

Thanx releases Loyalty 3.0 platform features

Provided

November 9, 2021

Thanx, a guest engagement and retention platform for brick-and-mortar retailers, is launching several capabilities ahead of its upcoming Loyalty 3.0 reveal in 2022, a response to what Thanx has coined "the loyalty revolution" happening in restaurant and retail, according to a press release.

The forthcoming features intuitive tools for activating customer data while offering greater 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 its 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," Zach Goldstein, founder and CEO of Thanx, said in the release.

While most details behind the Loyalty 3.0 announcement will not be released until December, Thanx is announcing select capabilities including.

• 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.
• Automated A/B testing:It 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 customers to automate and fine-tune the customer journey and in doing so, iteratively increase revenue per customer and reduce unnecessary promotions.

The 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," Goldstein said. "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."