4 Proven Techniques to Increase Restaurant Sales
2020 has been a roller coaster ride for everyone. It was supposed to be a game-changer for many people, however, what they experienced was a complete flip side of what they expected. As we all know, the pandemic shattered almost every industry, and the restaurant industry was one of the worst impacted. However, despite the debacles that have happened, the restaurant industry is expected to reach approximately $95 billion by 2025, with a CAGR of 10% during the forecast period of 2020-2026.
There are various techniques to boost the sales of a restaurant, however, these depend on the format in which the restaurant is being run. We have enlisted a few proven techniques that will surely increase the bottom line of your restaurant business. These are just a few of them and you can surely add up to these for better results.
● Tie-up with co-working spaces:
Co-working spaces have gained a lot of impetus in recent years. You, as a restaurateur, can tie up with such spaces in and around the city.
By collaborating with such co-working spaces, you can provide some benefits to their members like providing them with some coupons or deals that can increase your foot-fall and can also create awareness and help from a branding perspective.
● Menu Re-Engineering:
The biggest challenge with every restaurant, may it be operating in a QSR format or a Dining format, is that their customers always expect something new.
You can easily identify those menu items which are pretty slow running and can eliminate them from the menu and try to introduce some new options in the menu.
Re-engineering the menu not only helps us eliminate the items which are not doing well but also helps us to create excitement amongst our customers about the new arrivals. One can always provide an offer on the new arrival to get feedback from the customer.
● Vendor or Supplier Management:
Marketing and branding your restaurant the traditional way is now a thing of the past. You might be present on various social platforms, however, you need to define your purpose of being there.
If one precisely chooses his/her audience on Social Media to showcase their product or any offer then it can give exceptional results. With a handful amount of campaign budget ranging in a few thousands of Rupees (to be a bit precise, less than even INR 5,000), one can reach the timeline of lacs of customers. That’s the power of Social Media and going Digital.
A restaurateur can increase his/her digital footprint in various ways mentioned below:
- Getting listed on different Aggregator Platforms: Aggregator platforms can give your restaurant a good opportunity to increase your sales turn-over, however, one also needs to consider the transaction charges that are charged by the aggregators. One can also be a part of the PPC ad campaigns run by the aggregators.
- Listing on Social Media: Social Media definitely has the capacity to up your game. By putting your latest offers/deals and showcasing your new arriving products, you can definitely create excitement among your viewers. Various brands have made use of ONLY SOCIAL MEDIA MARKETING at the time of their Store Openings by distributing Deal Vouchers online through Social Media. This not only created brand awareness but also led to great sales.
- Creating your own Website and Ordering Platform: If you are a chain and have a couple of stores (self-owned or franchisee), then creating your own ordering platform makes sense and is viable from a commercial and operational perspective. Generally, any brand having 5 or more stores can plan for creating its own online ordering presence.
● Cater in Events:
Participating in events is a major point for any startup – restaurant to make their brand known to the public. There are a lot of events, comedy shows, fests, birthday parties, that can be taken advantage of. Moreover, apart from that, the party members can be given a coupon offering them a discount on their next visit to your outlet.
If you have your own space then you can use it to gain more audience and visitors to your store by collaborating with stand-up comedians or musicians to offer a great musical evening. You can market this event on various platforms apart from your page on social media, there are many pages that cater to your need for promotions and only promote events that are being organized in and around the place.
To sum up the above points, creating and building a brand is a time taking process. You need to have high-quality unique food items that attract customers. Also, you need to continuously keep improving as per the feedback received from customers.
This will help you know what exactly they need. People in general have a certain mindset that needs to be understood and worked upon. This has been observed as the win or loose game. If the customer gives feedback and does not find an improvement the next time or at least some confirmation from your end, then a bad review can be taken to the internet and people study the restaurant based on their reviews.
So follow empathy and the things mentioned above to gain more reach.