As restaurants continue to compete for diner dollars with higher value, lower prices, and unique offerings, is this approach viable over the long haul? Many operators have adopted a strategy focusing on value to reflect the unstable economy and thrifty consumer trend, but this may be a shortsighted approach, offering short-term relief and higher revenues […]
Repeat business is a restaurant’s bread and butter, and this means loyalty and retention is top of mind for many operators. According to studies, it costs a business 25 times more to acquire a new customer than it does to keep one, so it’s in your best interest to make customer loyalty your top priority. […]
Building loyalty is an effective way to build your business, so it’s time to prioritize enrolment for your loyalty program. While the exact ratio of loyalty to cheque size is difficult to determine, it’s clear that loyalty members have continued to visit and spend, despite the continued rising inflation. With the average consumer belonging to […]
By Mark Plumlee Knowing your customers is perhaps the most important part of running a successful small business. Knowing your target audience should inform every decision you make – your overall atmosphere, your menu, your marketing strategies, and beyond. Familiarity with your diners allows your business to provide them with the exact drinking or dining […]
By Austin Verner Customers are the lifeblood of any business, and that means delivering an exceptional customer experience is a must to keep your guests coming back. A study conducted by Thanx found that revenue was highly-concentrated among a small number of customers, with the top 25 per cent contributing 64 per cent of revenue. […]
By Mark Plumlee If you want to capture the attention of would-be guests on the internet, online reviews are of the utmost importance. According to a study by TripAdvisor, 94 per cent of respondents in the U.S. admitted that online reviews influence their dining decisions. Another study by two economists at the University of California, […]
By Megan Prevost Everyone has their favourite restaurant. The one they go to when they want to celebrate or need a pick-up. The one that they pick when they can’t think of anything else. How do you think these restaurants become such a staple in people’s lives? Oftentimes, delicious food and a great experience keep […]
Loyalty programs have become a vital tool for many restaurant operations. They’re nothing new in the foodservice space, but they are certainly evolving as a differentiator in a crowded industry. Not only providing an incentive for customers to come back and spend more money but also making it easier for them to do so in […]
The final chapter of our three-part look at restaurant branding during the pandemic looks at how to build a unique brand identity to stand out in a crowded market. By Doug Radkey Within this series, we’ve learned the importance of a brand guide along with consistent brand messaging, and come to understand the elements of connection […]
Quick Service Restaurants face an uncertain future. Here’s how they can win in a digital marketplace with customers staying at home. By Peter Klayman With the pandemic altering the definition of “normal” across industries, Quick Service Restaurants (QSR) have been amongst the fortunate few able to stay afloat. While foot traffic to fast food and […]
