Know Your Restaurant Numbers. Not just in your restaurant marketing numbers, but in all the important aspects of your business.
Know Your Restaurant Numbers. Not just in your restaurant marketing numbers, but in all the important aspects of your business.
Jonathan Munsell
Your restaurant operations numbers, your financials, your marketing, even measure your customer/guest experience… measure everything so you know how you rate. Quantify it so you can constantly work on and improve it and your profitability.
Don’t forget the basics. Don’t forget what made you successful.Together with the marketing, you need to concentrate on an important feature. Keep a customer database so that you can market all these things and keep all the pertinent information you gather from the guests that you have now.
People are always infatuated about going out and getting new guests, which you need to do, but it’s not nearly as important or profitable as marketing to your existing guests. You need to have ongoing communication with your existing guests: monthly newsletters, birthdays, anniversaries, thank you, and any other monthly promotions of things happening – a feedback system. This does not mean or have to be discounts.
It may mean something more expensive than you’re used to selling … perhaps a package dinner with wine, flowers, chocolates – something to take home. Oftentimes this can be more expensive if you create a very exciting and compelling offer for your guests.
A really important characteristic of highly successful restaurant owners is that they look at all marketing in terms of return on investment, not cost. They don’t worry if something costs or 0 or .22 to mail out, what they look at is- after my expenses how much money did I make by doing this promotion? Cost becomes irrelevant.
What you focus on expands. The more you focus on a negative, the more the negative will happen, the more you’ll think about it, the more negative your staff will get. Don’t get emotional about your marketing. Take the emotion out of the marketing. Let the numbers speak for themselves.
You need to understand and look to see what is making you money. What marketing is working?
Let’s talk about how most people plan and spend on marketing…
“THE AD REP”"The Ad Rep” is a forbidden term around my neck of the woods. Let me tell you why:
You see, “The Ad Rep” gets paid based on the amount of money they can get you to spend on advertising. The more you spend, the more they make.
They don’t get paid based on the amount of new business they bring in for you. That’s not what they’re concerned about.
That’s why they keep telling you to keep running the ads over and over again. They say that the people need to keep seeing the ads over and over before they’ll respond. There is some minor truth to this.
But if an ad loses money the first time, it’s not suddenly going to make money the second, third, or fourth time.
(TIP: If your ads aren’t making you money right now: STOP RUNNING THEM!)
Running the ads over and over will build name recognition for you, but you can’t eat recognition.., you can’t deposit recognition in the bank, you need response — now!
Jonathan Munsell is a professional speaker, restaurant owner and owns and operates multiple restaurants and a large catering company. Helping other restaurant owners better their business through Restaurant Success System.Reach him at jonathan@restaurantsuccesssystem.com call him on +1 919.225.6015 or visit http://www.RestaurantSuccessSystem.com
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