How simply making an impact on 600 people, can add six figures to your bottom line.
The most powerful strategy to consistently grow your restaurant business, is to build your database.
The cost of ‘buying’ new customers with special offers will reward your business in the long term. As you collect your new customers’ details, you grow your database so that you can bring them back again and again.
Obviously, your customer’s initial experience must be a positive one to get them to consider returning again.
But you can’t rely on all your customers to remember you. There is a lot of competition out there and they want their share of your customers’ spend. So you need to keep your restaurant ‘Top Of Mind’ by keeping your communications line open between you and your customers using social media and email.
Getting an existing customer to return is far more profitable than trying to attract new customers. The ratio to get a new customer is typically 5/1. That means it costs you 5 dollars for every $1 you receive from a new customer.
However the ratio of getting an existing customer to return to your restaurant is typically 3/1. That means it costs you 3 dollars you spend to get a return customer. The greater their experience in your restaurant, the less you need to spend in getting them to return.
Listen to the interview with Matt Plapp, from Matt Plapp,as he joins us to discuss his latest book, Restaurant Marketing That Works: Before, During, and After The Pandemic.