Lightspeed POS, the Montreal, Canada-based retail and restaurant POS solution provider that is reportedly gearing up for an initial public offering (IPO) in the spring, today announced the launch of a new guest relationship management capability, dubbed Lightspeed Loyalty. Seamlessly integrated into Lightspeed’s existing suite of products, the new technology is designed to enable restaurant operators to engage more effectively with guests, reward repeat business and build a loyal following.
According to the company, Lightspeed Loyalty gives restaurants (as well as other retailers) the ability to create a dialogue so that first time guests become regulars and existing customers become more engaged. Going beyond point and reward systems, Lightspeed Loyalty aims to provide businesses with the tools to better communicate and target their customers in a personalized manner.
The new solution includes a number of key components. Among these is a rewards program that allows users to set up a customized rewards program with a branded customer-facing app and tools for points management, purchasing products from within the app, and customer credit accounts. An automated marketing allows users to create automated campaigns via SMS, mobile push notifications and a drag and drop email builder. Easily target customers with relevant offers based on auto-segmented customer habits and preset segments. Customer Insights allows users to view customer habits and interests in one place to enhance menu management or inventory selection, pricing, and promotional planning.
This new product launch comes on the heels of Lightspeed acquiring ReUp, the creators of a digital platform that allows business owners to build a branded loyalty program.
Founded in 2005, Lightspeed last year raised about $166 million in a Series D financing and has grown to nearly 700 employees, with global offices in Canada, USA, Europe, and Australia. According to various reports, the company intends to raise upwards of $150 million with the upcoming IPO.