Why Most Restaurants Overlook Their Most Profitable Marketing Tool
When most restaurateurs think about how to generate greater profits, they immediately focus on how to attract new clients. A
More clients entails more money, right? With most marketing tools designed to do simply that, itas an easy conclusion to jump to.
The problem is that this line of believing dismiss three proven facts.
The first is that itas more expensive to acquire new clients than it is to retain existing onesa5 to 25 times more, according to the Harvard Business Review.
The second is that the majority of any restaurantas profits come from a core group of repeat clients. Itas impossible to run a profitable eatery without loyal fans.
The third is that retaining clients is essential to profitability. A mere 5% increase in retention has been shown to increase profits by 25% to 95%.
The lesson is clear: the most profitable marketing tool available to restaurants is one that focuses on retaining customers, turns them into loyal fans, and drives repeat visits.
The obvious question becomes, what kind of marketing tool enables you to do only that?
Enter WiFi Marketing
Restaurants offer free guest WiFi because they know customers enjoy it, stay longer, and spend more fund as a result. But those are really only drops-off in a much bigger, more profitable bucket known as WiFi marketing.
WiFi marketing is about connecting with the customers who walk through your doorways. A WiFi marketing platform, like Turnstyle, allows you to create a branded login page where customers enter their email, phone number, or social profile in return for access to your WiFi.
In turn, this allows you to grow a listing of contacts who want to hear from you and to focus on retaining existing clients, rather than constantly chasing new ones.
5 ways to profit with WiFi marketing
Of course, a WiFi marketing platform doesnat simply grew a listing of valuable contacts, it also allows you to automate promotions, analyze client data, and improve your other marketing efforts in a variety of ways. Here are a few worth mentioning:
Send automated messages
Make messages personalized
Use triggered campaigns
Turn at-risk clients into regulars again
Originally posted by Yelp WiFi