Montreal-based POS software firm Lightspeed has globally launched Lightspeed Loyalty, a technology that enables merchants to engage customers, reward repeat business, and build a loyal following.
“Lightspeed Loyalty allows us to have our uniquely branded restaurants all under one Loyalty platform.”
Lightspeed Loyalty, integrated into Lightspeed’s existing suite of products, is intended to give retailers and restaurants the ability to create regular customers out of first-time guests, and to allow existing customers to become more engaged. This is all done through a platform that creates brand ambassadors. Lightspeed stated that Loyalty aims to offer businesses the tools to target their customers in a personalized way.
“Retailers and restaurants have always aimed to offer customers a superior level of service, and Lightspeed Loyalty allows them to take that service to the next level,” said Dax Dasilva, founder and CEO of Lightspeed. “We’re providing these businesses with the tools to break down barriers, thus fostering strong customer relationships, driving repeat visits and increasing revenues, no matter the season.”
Lightspeed Loyalty’s debut comes several months after Lightspeed’s acquisition of Toronto-based ReUp, a digital platform that allows business owners to build a branded loyalty program. ReUp was rebranded as Lightspeed Loyalty.
The platform features the ability for customers to create automated marketing campaigns through SMS, mobile push notifications, and a drag-and-drop email builder. Through the marketing feature, users can target customers with relevant offers based on auto-segmented customer habits and preset Smart Customer Groups.
Users can also view customer habits and interests in one place to enhance menu management or inventory selection, pricing, and promotional planning. Existing Lightspeed Loyalty users have already been able to use these features for their businesses.
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Leading up to its IPO, Lightspeed raised a $207 million Series D round, closing in October 2017. In January, the company announced the launch of Lightspeed Payments, to be fully integrated with its platform, a new payments system that would eliminate the need for customers to use third-party payment providers.
After Lightspeed officially filed to go public on the Toronto Stock Exchange in February, shares jumped by 18 percent on its first day of trading, valuing the company at around $1.7 billion.
“Lightspeed Loyalty allows us to have our uniquely branded restaurants all under one Loyalty platform, so we can reach all our customers at the same time,” said Josh Cottingham of L&B Restaurants. “We are very excited to use this system to build and expand our customer base and satisfaction.”
Lightspeed claimed that more than 60,000,000 reward points have been awarded to more than 200,000 customers so far. With the ReUp acquisition, Lightspeed is offering an integrated loyalty solution geared towards apparel boutiques, pet stores, quick service establishments, and restaurants.
Image courtesy Lightspeed.