E-commerce is driving brick-and-mortar stores down to some extent. Those who have survived have something to offer to restaurants, especially concerning the marketing side of the business.
Here are five lessons one can learn from retail marketers.
Improve Your Customer Experience
For restaurants, customer experience is the key. The retail business makes customers make more purchases as shopping is made fun of. In restaurants following the same principle, we can enhance customer experience into a dining delight, forcing them to come each time to your restaurant.
Segmentation is the process of categorizing your customers into subsets of the market. When you do this, you will be able to study individual categories and develop promotions and other marketing strategies that fit their preferences.
Similarly, if restaurants can charge higher prices to customers who are willing to pay high and vice versa, their revenues will increase, but overall, their sales and customer base will expand.
What you should do is to come up with a program for which the purchases of your customers are tracked so that when they reach a goal relating to the total number of accumulated orders, they can be rewarded.
If restaurants can reward their customers based on their reoccurrences, they will encourage such patrons and others around. Whatever discount it has to offer for the loyalty program shall be translated into an increase in sales and reputation.
Venture into a Subscription Model Business
This business model gives customers who subscribe priority on scheduled repeat purchases. This ensures that products are available for them even when the supply is usually scarce.
If a restaurant offers a similar model, they can not only provide exclusive services, off-peak and on-peak hours packages to its valued subscription customers. This way, it can increase its revenue by charging a segment of the market more for better services,
Timing is Key
The success of many marketing strategies is mainly dependent on how perfect your timing is. Email retargeting campaigns are for those customers abandoning their online shopping carts. Promos are also very much in time for special occasions. The success of many marketing strategies is mainly dependent on how perfect your timing is. The essence is that you keep the customer engagement through marketing even if he is not making purchases.
By doing so, restaurants can better manage their customer relationship, and their customer retention will improve with time. Moreover, restaurants will build a brand value for themselves.