Lately, your point of sale marketing strategy isn’t benefitting your restaurant the way it should. Special menus come and go unnoticed. Holiday buffets are not putting more people in your seats, and your staff is complaining of low wages due to a lack of tip revenue. Inventory is starting to stack up, costing you money as items are thrown out after surpassing their shelf life. You need to boost traffic, and soon, to avoid becoming another memory in local restaurant lure. You understand the basics around marketing your restaurant, so what are you missing? It could be that you need a better point of sale marketing strategy.
Using POS Data to Understand Your Target Customer
Developing a marketing strategy starts with knowing who you are targeting and what they are seeking in a dining experience. Since you cannot convince someone that does not enjoy eating in a modern atmosphere that your modern atmosphere is the best, you need to first slim down the audience that you are trying to reach. A modern POS solution will aid in this by collecting data and providing custom reporting to help you gain an understanding around trending customer expectations.
Utilizing transaction data and coordinating this information with accurate inventory tracking provides a number of marketing and operational benefits. This gives you an immediate glimpse into what your current customers are enjoying and pinpoints areas of improvement, especially when it comes to menu items, favorite servers, and preferred tables. Using these slices of information can allow you to leverage your POS solution to create and conduct guest surveys around what they would like to see. Tying the manually gathered information with the truths at the register gives you a promising and effective place to start your targeted marketing.
Building Up the Foundation of Customer Loyalty to Promote Sales
Many restaurants often start to change their point of sale marketing strategy after a noticeable drop in customer traffic. The problem with this approach can be seen in this key statistic: it costs five times more to attract a new customer than it does to retain a current customer. Additionally, it costs sixteen times more to turn a new customer into a regular customer, and achieving a customer retention rate of just 2% can lower your costs by 10%.
Using the data and reporting from your POS solution will help you to identify potential trouble spots before they begin. This allows you to make changes in the dining atmosphere and perform an informed menu refresh to maintain the customer base you already have. Avoiding being passive by taking a data-based proactive approach towards customer retention will be noticed, and will keep your numbers from falling.
Stepping past menu and environmental refreshes for a moment, let’s look at some great features that an innovative POS solution can present to you. Creating and running a customer loyalty program is made easier, thanks to using app-based technology to quench the technical thirst of your customers. The capabilities with using an app are almost endless, as anything from table reservations, pre-arrival ordering, or tracking frequent dining awards elevates your reputation and accessibility.
Some additional features, such as tracking customer ordering and table preferences or noting trends around popular dining times, gives you highly focused marketing opportunities. For example, your data indicates that a customer always dines with you for lunch during the week but not on weekends. You use your POS system to send them an alert via your app to inform them of Saturday’s lunch specials and, oh hey, by the way, your favorite table is open from noon to 1pm. Using this level of granularity presents you with the opportunity to maximize your time and minimize the cost of a targeted point of sale marketing strategy.
Optimizing Your Point of Sale Marketing Strategy With Multi-Channel Customer Engagements
One last key point of sale marketing strategy that restaurants can easily utilize with a highly capable POS solution in place is to market via multiple channels at once. We touched on this briefly in the last section, where we showed you how to leverage your data and app to create precisely targeted marketing strategies. Knowing your other options, especially social media channels, can help you to grow and maintain your customer base with ease.
When the term “social media” is used, thoughts turn to food pictures on a Facebook page or Instagram post. While helpful, the social media trend has moved to places like TripAdvisor, OpenTable, and even reviews on Google Maps. Taking advantage of all of these mediums gives you multiple platforms for you, thanks to your customers. Some of these give you the opportunity to respond to reviews, allowing you to address issues customers had or to offer a simple word of thanks.
When social media marketing outlets are integrated with an app-based and email-based marketing strategy, you can be assured that your reach is as large as possible. You become engaged to your customer base through these platforms, and avoid becoming a wallflower in the local culinary scene. The requirements of getting this right seems simple at a glance but does require some outside expertise to get it right from the start.
Your Point of Sale Marketing Strategy Requires a New Set of Eyes
You have a plan that you have executed since your doors opened on day one. As the times have changed, so has point of sale marketing strategy. Your current and potential customers have new expectations that cannot be accomplished by how your operations are running at present. You know that you need help, but where?
This is where an outside consultant can help. As you devise your new marketing strategy, a consultant will provide you with technology-driven advice, based on their own experience, to elevate you to a new, successful stage. They should recommend technology and a point of sale marketing strategy that fits you, and will not expect you to reinvent your wheel beyond what is comfortable for you.
When you reach out to talech, you gain more than a POS solution provider. We take the time to learn your business inside and out so that the solution we recommend and implement for you represents exactly where you are and where you want to be down the road. Reach out to us today to sign up for a free demo and find out how we can revolutionize your business.