Dive Brief:
- BurgerFi and Anthony’s Coal Fired Pizza and Wings have launched a co-branded loyalty Visa card that offers customers 3% cashback on purchases at any of the two brands’ 185 locations nationwide, according to a press release.
- The credit card offers members other benefits such as a $25 sign-up bonus and 1% cash back on other purchases. The bank-linked card was created in partnership with Imprint and has no credit inquiries, interest, fees or overdraft charges.
- Just over a year after going public, BurgerFi acquired Anthony’s in October 2021. The company is targeting aggressive unit growth in new and existing markets and has focused on deploying new technology and increasing same-store sales through offerings and loyalty rewards, according to SEC documents.
Dive Insight:
As part of its growth strategy, BurgerFi brought on Karl Goodhew to serve as its chief technology officer last year, who said the chain is focusing on building its loyalty, mobile application and payment capabilities.
CEO Ian Baines reiterated the tech focus during the company’s Q1 earnings call in May. “Digital technology …remains a major priority for us as we aim to enhance the guest experience through greater convenience and accessibility,” he said.
Numerous brands, from McDonald’s to Sweetgreen, have launched or tried new loyalty programs in the past two years to generate higher checks and frequency, as customers have come to expect more personalized offers.
However, the BurgerFi and Anthony’s card is differentiated from most other loyalty initiatives as it offers customers cashback rewards whenever customers order from either brand, whether those orders are dine-in or online. Those online orders are likely to grow as BurgerFi expands its delivery footprint through its recent partnership with Gopuff.
A recent survey from Dosh reported 82% of consumers prioritize cashback offerings, discounts or special promotions when shopping. Rewards-based promotions tend to generate more revenue and profitability per customer than discounts, according to Aberdeen Group research.
Another differentiator for BurgerFi’s program is the ability to earn rewards from multiple brands. Customers who want to receive benefits can choose from two diversified menus. And there’s potential for more. BurgerFi previously noted it would like to become a multi-brand platform, so if the company acquires more restaurants, it could expand the rewards card across several brands.
