Loyalty360 Reads: SoFi Becomes Official Banking Firm for NBA, Taffer’s Tavern Reinforces Customer Loyalty, Denny’s Boosts Customer Engagement by Expanding Virtual Brands

SoFi Named Official NBA Banking Partner 

The National Basketball Association (NBA) and the online financial institution SoFi have announced a partnership designating SoFi as the official banking partner for the NBA, NBA 2K League, NBA G League, and USA Basketball. SoFi has also been named the official entitlement partner of the SoFi NBA Play-In Tournament, which will be held April 16-19. 

Kerry Tatlock, Executive Vice President of Global Marketing Partnerships and Media for the NBA, said, “SoFi’s innovation in the financial services space and commitment to providing accessible resources to enhance financial literacy aligns with our efforts to make a lasting impact in the communities where we operate. We’re proud to have SoFi join the NBA Family as our Official Bank partner, and we look forward to working together to bring these shared values to fans in meaningful ways.”  

SoFi also joins five-time NBA All-Star Boston Celtics player Jayson Tatum in establishing the SoFi Generational Wealth Fund, which promotes financial literacy and provides direct aid and grants. SoFi has pledged $1 million to the cause, which, with Tatum’s S.M.A.R.T. Project, will assist single parents in creating sustainable generational wealth. 

CEO of SoFi, Anthony Noto, said, “SoFi is proud to partner with the NBA to cement our brand as a trusted household name through the league’s vast reach. As the next generation of banking, we believe we can help millions of NBA fans nationwide achieve their financial goals and get their money right. We’re excited to work with Jayson Tatum on the new SoFi Generational Wealth Fund, through which we’re donating $1 million, taking action together on the need for more widespread access to financial education resources and closing the generational wealth gap in America, where nearly 60% don’t feel like they can become financially secure.” 

Learn more about the SoFi/NBA partnership here: https://pr.nba.com/sofi-nba-partnership/ 

 

Taffer’s Tavern Introduces Rewards Program 

The celebrity-branded restaurant Taffer’s Tavern is introducing a rewards program that allows guests to track and redeem rewards on a mobile app. Jon Taffer, Paramount’s “Bar Rescue” star and renowned hospitality expert, announced the Taffer’s Tavern Rewards program on Instagram

The new loyalty program will reward returning and new Taffer’s Tavern guests, with customers earning five points for every dollar spent at any location. Some other perks of the program include:  

  • 400 points equals $5 in redeemable rewards that increase at 700- and 1,200-point levels 

  • 100 points for registering for the rewards program as well as a free soda with each visit until February 29, 2024 

  • Free handheld item on birthdays 

  • Complimentary dessert and bonus rewards for every fifth visit 

The restauranteur wanted to encourage return visits by its customers. 

Taffer said, “Guest frequency is paramount to any restaurant’s success. At Taffer’s Tavern, we have this amazing drive to get our guests back again and again. In fact, the backbone of many of our training and promotional programs is ‘Get Them Back.’ That’s why I’m proud to introduce this new loyalty program. Through Taffer’s Tavern Rewards, we hope to create a stronger relationship with our customers via customized offers, unique perks, tasty rewards, and a few surprises & delights along the way.” 

Alan Walker, Taffer’s Tavern Vice President of Marketing, added that reward tiers are programmed so a reward is always within reach. “Based on average checks, our lowest reward is achievable within every 2.5 visits. Guests can opt to bank points for a higher reward value, too. We also opted to elevate the birthday reward to break through the noise of other restaurant loyalty programs — from a complimentary dessert to an entrée. These are just a few of the benefits we’re excited to be offering our loyal patrons. Through these efforts, we’re sure that Taffer’s Tavern Rewards will drive visits and revenue to our franchisees.” 

Taffer’s Tavern customers begin earning points immediately by downloading the app on Google Play or the Apple App Store. 

Sign up for the Taffer’s Tavern rewards program here: https://tafferstavern.myguestaccount.com/en-us/guest/  

 

Denny’s Expands Virtual Brands Following 2024 Fourth-Quarter Earnings Report 

Denny’s Corp.’s fourth-quarter earnings report for 2023 made a strong case for its off-premises businesses. Denny’s president and CEO, Kelli Valade, said, “Off-premises sales were approximately 20% of total sales, up from 19% in the third quarter. We feel good about this sales mix considering that many in our industry are actually experiencing sales declines in this channel.” 

The popular Spartanburg, South Carolina-based family-dining brand will continue to expand its operating hours with its virtual brands, Burger Den, The Meltdown, and Banda Burrito. The restaurant chain has also begun testing alcohol at Keke’s, which it acquired for $82.5M in 2022. The daytime breakfast café is adding bellinis, sangria, and mimosas, with many new cafés serving alcoholic beverages. 

Valade added, “For us, these channels provide a unique opportunity to leverage operating capacity at dinner and late-night to a distinctly new consumer. For these reasons, this will continue to be a part of our strategies, which is why we’re leaning into testing our third virtual brand with Banda Burrito and why we’re leaning into a test with Franklin Junction, a global leader in branded virtual restaurants.” 

Like many restaurants in the wake of the pandemic, Denny’s is working on restoring its total operating hours, in their case, 24/7 following COVID. Currently, Denny’s is operating at approximately 75% of the level it was at before the pandemic. 

Learn more about Denny’s Rewards here: https://www.dennys.com/rewards  

 

Read More on Trends, Updates, and Industry Leaders   

 

Original Article Links:  

SoFi Named the Official Banking Partner of the NBA, NBA G League, NBA 2K League and USA Basketball 

Taffer’s Tavern Launches Rewards Program 

Denny’s looks to highlight convenience with off-premises options 

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