Earlier, we covered how much a restaurant should price items on their menu. In today’s Friday Infographic feature, we highlight the typical American and what is most important when dining out.
It has become a necessity to capture your best customers and make them feel special in this competitive market. That is how you will keep them coming back.
What do you think of when you hear “customer loyalty program”? For the past 10 years, franchises and small to medium-sized restaurants and retailers have been plagued by the limitations of basic punch cards and loyalty cards. A loyalty program must have a purpose beyond simple reward redemption: a loyalty program must capture customer information, offer redemption security, and drive positive customer behavior to prove ROI.
In 1981, American Airlines started the first frequent flyer program for its best customers. Now, every airline you can think of has their own version of the frequent flyer program – it has become a standard for what customers expect from an airlines and a rewards program.
Today, retailers and restaurants have a multitude of options available to create a rewards program:
Loyalty cards
Email marketing campaigns
Text message programs
Facebook, Twitter, and Foursquare
Companies spend more than $2 billion a year on loyalty programs. Statistics show that the average American household belongs to 14 rewards programs, but is only actively using 6 of them.
How will you make sure that your loyalty dollars are used effectively?
The following are the crucial elements of building and optimizing your customer rewards program.
Each year, FastCasual.com puts out their list of the Top 100 Movers and Shakers in the Fast Casual Restaurant industry. Nominated by readers, and voted on factors like innovation and growth, the Top 100 list provides a learning opportunity for restaurant owners all around.
The days of posting something on your Facebook Fan Page wall and having all of your fans see it are gone. As Facebook continues to grow and improve the way that users are served content, EdgeRank is something that all marketers and businesses should be aware of.
Playing a central role in the Facebook user experience, EdgeRank determines what items and stories are to be populated on an individual users News Feed. Specifically, each story is assigned a value which takes into account three known factors: Affinity, Weight, and Time
Having your own restaurant can be an exciting and rewarding adventure. However, menu prices can be the downfall of many businesses. Typically the number one factor in deciding where to eat out, menu prices can be the determinant between success and failure.
As a restaurant business owner, there are many different approaches to figuring out how to price the items on a menu. From simply taking the food cost and multiplying it by 3 to estimating how much you think it’s worth, like tying your shoes, there are many different ways to approach it.
Below is a description of the event and what you will learn:
One of the biggest trends to hit the restaurant space in 2011 was social media; in 2012, BIG DATA is taking over, delivering striking results.
By utilizing BIG DATA, franchises can predict consumer behavior, analyze consumer shopping patterns, and use the data to drive customer action. Ultimately, the goal of BIG DATA is to drive new trials and retention in the restaurant industry. How can you use BIG DATA to reward guests, collect data and turn the insights into actionable results?
In this webinar you will learn:
How to acquire important data from every customer
How to analyze BIG DATA so that it’s useful
How to use BIG DATA to drive new trials and increase retention
How to use BIG DATA to take the guess work out of choosing a new location for your franchise
If you have any questions about our presentation, be sure to leave them in the comments section.
