Loyalty is Hospitality with Zach Goldstein of Thanx
Finding time for thought leadership can be a challenge. However, for Zach Goldstein, the CEO of Thanx, the responsibility to share knowledge and uplift the industry is paramount. Goldstein acknowledges the industry's lag in becoming data-driven and sees thought leadership, even if its ROI is not immediately visible, as a means to assist operators. He believes that amplifying best practices and sharing insights is part of his mission and leadership obligation.
Goldstein also emphasizes the significance of data in the restaurant industry. He challenges restaurant operators to measure the returns on their strategies, particularly on loyalty programs. According to Goldstein, understanding the positive outcomes and optimizing efforts accordingly is crucial. He advocates for a data-driven approach to marketing, where identifying successful initiatives leads to informed decision-making and sustained growth in same-store sales over time.
For Goldstein, loyalty programs, when executed thoughtfully, align seamlessly with the essence of hospitality. The key, he says, lies in enhancing the customer experience rather than just offering discounts. Loyalty, according to Goldstein, should focus on elements like convenience and personalization which well aid in recognizing customers, making digital experiences easy, and saving customers time are vital aspects of driving loyalty without merely relying on value exchanges.
Interview Takeaways:
- Thought Leadership: The Responsibility of Sharing Knowledge – Restaurant Owners and Company CEO’s often comment on the difficulty of finding time to share knowledge across mediums, like podcasts. Zach Goldstein, however, believes that thought leadership is best executed by sharing knowledge and the ROI is immeasurable.
- Measuring and Optimizing Positive Outcomes – As the CEO of Thanx, data is paramount for Zach Goldstein, but according to Goldstein, many restaurants fail to track the success of said programs. Goldstein believes best practice should include focusing on those positive outcomes to capitalize on them.
- Loyalty is Synonymous with Hospitality – When done correctly, Zach Goldstein believes that loyalty practices enhance the customer experience, which increases loyalty and improves the hospitality experience.
Episode Links:
- Thanx Online – https://www.thanx.com/
- Thanx Instagram – https://www.instagram.com/thanxinc/
- Zachary Goldstein LinkedIn – https://www.linkedin.com/in/zgoldstein/
- Zachary Goldstein on Medium – https://medium.com/design-thanx/restaurants-are-facing-mass-extinction-but-local-governments-can-save-them-e23b7327a65d
- Zachary Goldstein on Digestible Tech Podcast – https://podcasters.spotify.com/pod/show/digestible-tech/episodes/Zach-Goldstein–Founder-and-CEO-Thanx-e25pdof
- Food Fighters Podcast by Thanx – https://www.thanx.com/food-fighters-podcast/
- DAVO: www.davosalestax.com/influencers
- Marqii: https://www.marqii.com/
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