Competition in the restaurant industry continues to grow in 2019. Restaurant owners must contend with saturation, competition, and convenience demands, yet still effectively market and increase their revenue in this challenging environment. Many owners may think the answer to making this happen is to rely on past tried and true methods.
However, marketing tactics like discounts and coupons are static offers that no longer hold the promise of tomorrow for restaurants. They are based on the premise that restaurant pricing is simply supply and demand and that when you provide a deal, you will increase traffic. Owners may want to believe their promotions are providing a discount that’s driving new traffic to their businesses, while in actuality the discount is devaluing the food and/or the dining experience.
With guests having easy access to any coupon in the marketplace, now that most are online, restaurants have no guarantee that their coupon is even being used by new customers, and the chances are high that they’re really giving margin away to current customers looking for a deal. This can be damaging to the brand and unsustainable for a restaurant if their traffic becomes completely reliant on discounts.
Today, there’s a better, more profitable way for restaurants to increase traffic and sales. Taking a dynamic, adaptive marketing approach helps restaurants build relationships through personalized offers and customized experiences that amplify brand loyalty and boost customer lifetime value. Providing dynamic loyalty requires a commitment to understanding and delivering on guests’ needs and wants through data-driven marketing efforts that drive omnichannel customer engagement.
Interested in the strategies that encourage loyalty and differentiate your restaurant from the competition? Download the new ebook that will help you: Don’t Let Discounts Be Your Demise: Top 3 Best Practices to Drive Restaurant CLV Using Dynamic Loyalty.
- What tech tools guests want to use
- How to leverage cloud technology and system integrations to deliver loyalty
- Key loyalty metrics that every restaurant should be tracking
- The types of data that can be collected, connected and crafted into customized offers and experiences
Don’t miss out, download your free ebook today: Don’t Let Discounts Be Your Demise: Top 3 Best Practices to Drive Restaurant CLV Using Dynamic Loyalty.
Stay in the know. Subscribe to our bi-monthly newsletter to receive proven loyalty strategies, offer management techniques, and new trends in your industry. Sign up today!