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WHAT'S THE BUZZ IN HOSPITALITY?

3 Simple Ways Restaurants Can Maximize Revenue

Apr 24,2019

You want your restaurant to do well. By 2020,the millennial generation will account for as much as 75% of the workforce, and they want convenience when deciding what’s for lunch. That means you should be marketing to younger generations to stay competitive. Today we share a few simple ways to help attract guests and maximize your restaurant's revenue:

  1. Embrace Technology

Multi-channel communications are critical when it comes engaging guests. Fortunately, with technology, restaurant operators have an easier time staying in contact with diners without losing touch on daily operations. Email communication is already commonplace - but if you’re not using it you could be missing out. Two-way text messaging and IM, such as WhatsApp, are gaining popularity because of their more immediate, conversational nature. Newer communication channels like these can help foster guest relations whether for instant confirmations, updates about special menu features, automated reservation reminders or real-time alerts once a guest’s table is ready.

In addition, some technologies can help limit revenue losses associated with no-shows. Certain reservation tools collect credit card data to secure a reservation, particularly useful in cases where demand is high but space is limited. Prepaid reservations are also used for special events or pre-fixe menus, where in the case of a no-show, the guest’s card can be charged automatically.

  1. Offer Delivery Service

There are plenty of delivery services you can work with but consider adjusting margins to take the delivery surcharge into account. There is a tremendous opportunity for restaurant owners and operators who employ a delivery service and that’s good news for them, given the trend toward more food purchases taking place outside the restaurant.

  1. Use Influencers

Tap into locals who have industry blogs or social media followings to help promote your business. It’s a modern word-of-mouth medium and offers more value than advertising alone.  Reach out to the top food bloggers in your area and invite them in for a complimentary meal. Be sure to take personal care of them. If they enjoy their experience, ask to be featured on their blog or in social.

These are just a few examples that can bring in revenue and help position your restaurant brand prominently today, and into the future. To learn more about technologies that support revenue optimization, follow the link below.

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