The ever popular Starbucks coffee recently announced a new incentive and rewards program for it’s customers who happen to be Lyft drivers. The My Starbucks Rewards will now be linked with one of the nation’s leading rideshare/transportation network firms.
Starbucks Coffee Company (Nasdaq: SBUX) and Lyft will now be embarking on a strategic partnership to benefit both of their customer bases and further strengthen what Starbucks marketing execs refer to as their “digital loyalty ecosystem”. Sound terribly fancy for a loyalty program between drivers and coffee makers? We thought so to but that is the beauty of the marketing machine.
No matter how you feel about it, Lyft has a significant market presence in over 65 cities and Starbucks, well, let’s just say they are everywhere. The program partners hope that their new bond will help attract new customers as well as assist in the retention of existing ones. Both entities face significant competition in their respective markets and are consistently looking for any edge they can grab onto.
We were particularly fond of the Starbucks eGift card program where Lyft customers can use the company’s app to purchase “thank you” gifts for their drivers. Nice and convenient and hopefully will encourage a giving spirit.
One thing that the new partnership is looking at for the future is a system where Starbucks “partners” could utilize the Lyft network for work transportation, benefiting from an enhanced discounted fee program. Another way the two companies are looking to share strengths and resources to benefit one another. The long term viability of this is being currently looked at in a test market.
Information About the Starbucks myRewards program:
The program is easy to sign up for and easier to use. Simply register as a customer and receive your myRewards card from any Starbucks location or register your information online at http://www.starbucks.com. Then simply present your card or mobile app when making in store purchases and your dollars are credited for loyalty points and stars which can be used for free food and beverages. Easy!
Information About Lyft:
A transportation network company which though only started three years ago, has successfully penetrated over 65 major markets and offers customers an extensive network or safe, responsible drivers with quality, safe vehicles operated within their fleet.