Fishbowl Launches Loyalty Analytics Solution
Fishbowl, the restaurant industry's leader in digital marketing, announced the launch of its Loyalty Analytics solution. This solution expands Fishbowl's guest centric platform to include data warehousing, analytics, and CRM methodologies, its most significant platform extension to date. Fishbowl clients can now use the company's software and services to leverage guest purchase data to systematically drive engagement and loyalty through targeted marketing efforts and ongoing measurement and optimization.
The Fishbowl solution expands upon CRM methodologies successfully employed by ecommerce and retail companies to drive recommendations, messaging, and sales through the analysis of prior purchase behavior.
"With over 14 years supporting restaurants, we recognized a gap in the availability of this technology for the industry and developed our Loyalty Analytics solution to address it,” says Fishbowl CEO, Scott Shaw. “Our vision is to help restaurants become best in class data-driven marketers–to use customer engagement, insights, and metrics to drive marketing strategies and tactics, lifting revenues across the business, just as companies such as Amazon, Harrah's, and Gap already do."
Fishbowl's Loyalty Analytics solution fills a gap in the marketplace for companies looking for a custom loyalty and CRM solution, rather than a traditional "one size fits all" rewards program. Fishbowl data shows that many guests are hesitant to enroll in a traditional loyalty program, even if it is 'cardless.' And for those who do enroll, well over 50 percent of traditional loyalty cards typically remain unregistered.
Fishbowl's Loyalty Analytics solution offers restaurant marketers an opportunity to influence a much larger percentage of customers than points based loyalty, encompassing the monetization of customer acquisition and the movement of guests along the customer lifecycle.
This means analyzing their dining behavior, preferences, spend and responsiveness to marketing campaigns and then building a one-to-one relationship through smart marketing programs that maximize guest frequency and revenues. Shaw emphasizes, "The key to success is to acquire profitable guests, then match transactional data to guests for whom you have contact information. Then you need to layer on additional information, such as demographic and campaign data, to get a complete picture of your business."
Fishbowl has spent over a year investing in technology, people, and best practices to evolve its existing platform of acquisition, messaging and promotions management solutions to offer Loyalty Analytics. This new solution includes an industry specific data warehouse that holds customer data from myriad input sources and a CMO dashboard that provides insights on all guests, transactions, and campaigns. The company has added a team of CRM experts to support clients. Several Fishbowl clients, including Houlihan's, Buca di Beppo, Pasta Pomodoro, and Ed's Easy Diner have been involved with the development of the solution or were early adopters of the company's promotions management solution that forms a key layer of Loyalty Analytics. Shaw adds, "These clients shared our vision and helped us build a restaurant-specific solution to deliver revenues and insights."