CHAPEL HILL, N.C. – Consumers increasingly look to cash in on loyalty programs, and a report from business strategy adviser Boston Consulting Group (BCG) shows that savvy businesses can capitalize on a data-collection strategy to ensure loyalty success, according to an article in QSR Magazine.

“If you are a quick serve and don’t have [a loyalty program], you’re going to be at a competitive disadvantage,” Dylan Bolden, a partner with BCG and co-author of the report, told QSR.

According to the report, nearly 40% of restaurant loyalty program members increased the frequency of their visits after joining full-fledged programs, and nearly 25% increased the amount they spent.

To gain the most traction with a loyalty program, the report suggests brands identify rewards with low implementation costs, partner with relationship-management vendors to collect consumer data as the program grows, and use that data as a basis to determine success and future moves. A well-designed and well-executed loyalty program forms an essential part of a company’s overall marketing strategy.

BCG research also shows that Millennials in particular expect a mutual relationship with brands, making them more likely to factor a loyalty program into their purchase decision.