12 Strategies For Creating Restaurant Riches In This Recession
If the recession, rising labor and food costs aren’t enough to deal with, there’s always another curve ball around the corner for the media to scare the heck out of our customers! Despite what you are reading in the newspapers about plummeting sales and profits with future Armageddon to come, there are restaurants, many of which I work with, that are still experiencing sales and profit INCREASES. I’m NOT a Medical Expert Specializing in Pandemics; ironically they don’t seem to be in short supply do they, nor a Doom and Gloom Economist telling you to put your head in the sand. I am here to Shine The Light on 12 Proven Restaurant Strategies to help You on your way to Becoming The Dominant Restaurant In Your Community. These Proven Restaurant Marketing Strategies are what I’ve discovered in working with over 6,343 Restaurants across America improve their sales and profits. You might have read a recent quote of mine
“Just Because There’s A Recession Doesn’t Mean Your Restaurant Has To Participate.” Rory Fatt
The reality is, your restaurant is not going to get a bailout from Washington. The only thing that matters to you is what’s happening in your economy. And that you can have a great deal of influence on it. Here are some specific things you can do to start receiving Restaurant Riches from Your Restaurant.
1. Don’t let all the media negativity affect your actions, thoughts or performance. Yes, you need to be aware if the sky is falling (it isn’t by the way) but as my good friend Lee Milteer says “Whatever you focus on Expands.” If you focus on declining sales and customer counts you’ll get exactly that – more sales declines. If however you decide to focus on what actions you CAN take to increase your sales and profits then that’s what you’ll get. MORE SALES MORE PROFITS. So don’t spend much time listening to the media negativity. 92% of America who wants to work is still working. The Parking Lots at Best Buy are still full with people buying stuff. Get over it.
2. Stop Hiding Your Head In The Sand and take some action! Running away from or ignoring what’s happening only makes matters worse and things won’t get better on their own.
3. Once you recognize what’s going to help you turn things around and INCREASE your sales focus on doing those activities. If you want MASSIVE RESULTS you need MASSIVE ACTION on your goals. Don’t be distracted by other people’s agenda’s and problems. Commit to every day advancing your key projects forward. Start with 15 minutes then 30 minutes each day on the project that’s going to have the biggest and most immediate impact on your sales. Eventually you’ll start to see the results of your actions and there will be no stopping you.
4. Recognize what actions are going to make a difference. Once you learn a few basic marketing skills you’ll recognize that marketing your restaurant are the kind of activities that generate $100 or more an hour. Dicing Carrots is an $8 an hour activity. Doesn’t matter how much time you spend doing it you aren’t going to generate $100,000 a year in income. At my $2,197 per person seminars I often ask the rhetorical question “How many carrots do you have to dice to make $20,000?” . Think about it.
5. Start Capturing Your Customers Contact Information. Market Research says it’s 7 to 10 times more cost effective to market to your existing customers than it is to get a new customer. Yet contrary to all information to the contrary most restaurant owners are infatuated with getting new guests. It’s infinitely easier to get the customers you already have, who are already familiar with you, coming in more often and spending more money. This can be done easily with a comment card with a monthly prize of $50 in gift certificates or a simple contest like ‘Guess The Weight of a Pumpkin’, ‘Who is going to Win The Academy Awards’. Once you have your customers contact information follow up with regular communication strengthening the bond with them and keep them coming back.
6. Have Systems For Automating Their Marketing And Moving Them Up The Restaurant Profit Pyramid. Once you’ve got the marketing going out to your existing customers have one of your staff, a mailing house, automate the process and just monitor the results.
7. Plug The Holes In Your Marketing Bucket. Most restaurant Owners recognize they need to promote themselves to get new customers. However since they rely on the people that sell them advertising space to design their advertisement they end up very frustrated as there is a huge conflict of interest. This is because advertising sales reps aren’t experts in Restaurant Marketing. They are just selling space. Relying on your advertising rep to create the marketing for your restaurant is like asking your mechanic for financial advice.
8. Make All Your Marketing Measurable And Accountable. Stop wasting money on advertising that you can’t measure the results from. Either make it measurable or stop doing it.
9. Use Proven Restaurant Marketing That Follows Direct Marketing Principles. The majority of restaurants copy other restaurants unsuccessful advertisements. This is like Marketing Incest. There are lots of Proven Examples of Restaurant Marketing that do work. Seek it out and implement it. Don’t try to reinvent the wheel.
10. There are two kinds of restaurant marketing. One for your Existing Customers and another for New Potential Customers. They are totally different groups of people and the way you communicate and reach these two groups is totally different.
11. Be sure your marketing dollars are targeted at those that are most likely to become good clients of yours. I often see restaurant owners spend huge sums of money on TV, Radio or Daily newspapers that reach people that live or work 100’s of miles away. This doesn’t stand a chance of getting people to come to your restaurant. You might as well burn hundred dollar bills if you are going to spend money on marketing your restaurant that has no chance of success.
12. Target Your Marketing With Laser Like Precision. Target customers just like your own best customers. Once you can describe them in terms of demographics, age, sex income, where they live etc. then it becomes a relatively easy task to get them to come to your restaurant.
There you have it 12 steps to Restaurant Marketing Success.
Rory Fatt is President of Restaurant Marketing Systems and the Controversial Critic of Normal Ways Owner’s Promote Their Restaurants. To get a copy of his FREE REPORT “How To Double Your Restaurant’s Profits in 119 days Or Less – Even In A Tough Economy” click here.