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Chasing guppies while Moby Dick swims away?

21 Sep 2015, by Kamron Karington in Kamron, Loyalty, Marketing

Stop chasing the smallest opportunity…

Problem: Increasing sales through customer acquisition is the most expensive and least productive method for driving profits.

It is a restaurant’s own customers who are more likely to visit and spend money, yet most owners blow 90% or more of their marketing dollars in an effort to drive “new” traffic, which in most cases represents less than 10% of a restaurants growth opportunity.

Solution: Significant sales increases are more easily obtained through staying top of mind with current customers and giving them frequent reasons to return.

Example: A customer visits your restaurant twice a month. But since you aren’t staying in touch with them… they are continually influenced by other advertising and offers, so they are dining in other restaurants as well.

And each time they dine elsewhere… you are at greater risk of losing them forever.

Simple math reveals that just one more visit per month from a “twice-a-month” customer is a 50% spending increase (2+1=3).

Imagine if you had a way to reach out and provide thousands of customers with continual and repeated reasons to visit and spend money with you.

Get customers enrolled in your loyalty program (or at the very least – an email club)… and be the “go-to” choice when they’re ready to spend.

Your bank account doesn’t really care where the money comes from… as long as it comes in.