As in any industry, the most successful restaurant groups across America Focus on one thing and one thing only, that's the numbers! With razor thin margins at times, one bad month can set restaurants back months or worse destroy their business all together.
There are a lot of things that separate the restaurants that make it and those that fail, but there's one thing that holds true:
On average, 85% of dine in revenue is generated by the "occasional diner", understanding this important fact is essential. Managing restaurants with this extremely important statistic in mind can bring clarity and stability to what can feel like a roller-coaster ride at times. Without stability businesses can't grow, if businesses don't grow then they can't scale.
Who And What Is The Occasional Diner?
The Occasional Diner can be classified as a non-loyal customer that doesn't visit your restaurant regularly or less than once a month.
This is extremely important because if 85% of the revenue is generated by non-loyal customers (New Customers) , it means new customers truly determine whether your business survives.
BaseLine ROI's strategy focuses on 3 key metrics.
New Customer Acquisition
Customer Frequency
Customer Retention rate.
Balancing these three key metrics (Acquisition, Frequency, and Retention) are vital to running a successful restaurant. They ensure both immediate and long-term success.
Focusing on customer acquisition is essential, but maximizing retention and frequency delivers the best profitability and sustainable growth.
We love helping individually owned and restaurant groups solve their "we need more customers problem and we are good at it. To receive a free case study on how to increase your restaurants revenue by focusing on Customer Acquisition, Customer Frequency and Customer Retention Fill Out the form below and we will send it to you shortly afterwards.
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For a low pressure demonstration on any of our services please don't hesitate to contact us. Thank you for visiting our website and we look forward to speaking with you soon!
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