Panera Bread is a US bakery chain consisting of over 2,000 cafés, and it operates one of the restaurant industry's largest loyalty programs.
In early 2020, Panera Bread dramatically changed the loyalty industry with a disruptive subscription program, offering unlimited coffee for just $8.99 a month.
Guided by a clear insight on customer needs from its member base, Panera has earned respect around the world for creating an entirely new business model which leverages the power of subscription psychology to delight its members.
In this fascinating discussion, I'm joined by Meenakshi Nagarajan, SVP, Recurring Revenue and Loyalty at Panera Bread, who shares some of the challenges that they overcame to create this incredible success story. Also, we dive into Panera's latest strategy, partnering with other like-minded brands to drive further disruption and ultimately, extraordinary growth from this paid loyalty program.
Previously on LTL - #168: Shell Shares Key Insights for It’s Award-winning UK & China Programmes (Show Summary)