How To Leverage The Most Untapped Restaurant Data For An Increase In ROI
It’s a question that most restaurant owners ask themselves frequently—“What could we be doing even better?” Restaurants operate on fairly thin margins as it is, and any increase in the bottom line is a welcome occurrence. But how can you increase that bottom line if it already feels like your restaurant is running smoothly?
One of the best ways is to tap into the data that your restaurant generates, and not just the most obvious data points that you may already track, because that’s just math. What you should look at are untapped sets of data that you probably don’t yet have a way of tracking on your own.
At Marketing Vitals, we’ve built a comprehensive software system specifically for restaurants, and it can help you leverage that data to get the biggest ROI for your money.
Your menu is a specific spot where untapped data might be costing you, and our predictive software could increase your ROI significantly. Look at your menu right now, and ask yourself if you’re completely comfortable with all of the prices on there. Chances are you may want to raise the price of an item or two, but aren’t sure how to do it without alienating customers.
Using our segmented and predictive data analytics, we can produce suggested price increases for different menu items that will mitigate the impact on customers, while still allowing you to increase your bottom line. You don’t want to be guessing at how much you can raise prices or what items should be on the chopping block without the data to back it up.
The results of your marketing efforts are another set of data that may be going untapped, or at least underutilized. Marketing campaigns and seasonal events are used to draw in more customers, but do you know how effective those campaigns really were? Which KPIs were impacted? How did those results compare with past campaigns and what could you do differently in the future to attract more customers? What menu items did those new guests order? Is the new menu mix less or more profitable? Answers that are normally hard to get to, we provide in just a few clicks.
When you work with Marketing Vitals, you won’t just get insights on your customers, but your employees, as well. Creating and tracking contests, receiving projections and updates on employees’ improvements and impact on sales—it’s all at your fingertips. And when you use the data in your restaurant to gain insights into your employees’ strengths and weaknesses, you can schedule them when it makes the most sense. You can spend time on training only when you need to, and only on issues that need work.
That’s a powerful tool to have on your side, and your employees will be happier when they’re used in roles and situations where they can thrive.
If your restaurant could stand to gain from smarter data use, then contact us today for a demo. It may just be the best decision you can make for your restaurant’s bottom line.