How do sports impact restaurants — and even the revenue of non-sports-theme restaurants? Here are a few quick statistics: When Lebron James returned to Cleveland and the Cavaliers, the city saw a 30%-200% increase in local restaurant revenue.
His return boosted restaurant revenue all year long, including during winter, Cleveland’s traditional restaurant off-season.
Experts estimate that his return was worth $500 million to the city of Cleveland.
Sports mean big money for the restaurant industry — with or without your city’s own Lebron James.
But it’s likely that if you’re not a sports bar or sports-themed restaurant, you may have viewed sports promotions as outside of your purview. Not only is that a mistake, but it’s a costly one.
The sports industry is worth $73 billion and growing. In a nutshell, there are four ways to take advantage […]
Today we caught up with Systems Administrator Paul Marrero of Uncle Julio’s, the person behind the award-winning campaign that Uncle Julio’s was recognized for today with a 2017 Loyaltees Award. Paul offered some additional insight on how he’s leveraging Paytronix and the Uncle Julio’s loyalty platform to make an impact.
Paytronix: Congratulations Paul, on Uncle Julio’s recognition as a 2017 Loyaltees Award winner. Thanks for taking the time to tell us a bit more about your loyalty platform today. As the System Administrator for Uncle Julio’s, you are the person responsible for designing the loyalty program, or the Uncle Julio’s Loyalty Czar as we’ve heard you called.
Paul: Thanks, the Uncle Julio’s team is honored by the recognition.
Paytronix: In talking with you about the Uncle Julio’s loyalty program, you mentioned having done away with your old email club in the process. How has the Paytronix platform replaced your previous email solution and how are you leveraging the integration of email and loyalty today? […]
There’s an interesting problem that restaurants with loyalty programs face. All of the behavioral data gleaned from these programs means that restaurants can easily identify their best customers: the people who spend the most and visit most frequently. And that’s very useful for creating profitable campaigns.
Running unsegmented promotions can cannibalize profit because your best guests will receive the same promotion as your less frequent customers. Your best guests are going to come in anyway, and discounting purchases they were already going to make can hurt profits.
Discounts and promotions designed to drive revenue should only […]
Before digital loyalty programs, restaurants had no real way of figuring out which visitors were likely to return. And, what’s worse, they had no way of effectively incentivizing visitors who could become loyal to return.
Today, identifying and nurturing potential loyal customers is more important than ever; people have a seemingly endless array of options when it comes to their meals. They can purchase ingredients at the grocery store to cook at home, or have ingredients delivered to their door using increasingly popular services like Blue Apron. For a quicker meal, they can buy pre-prepared hot food from supermarkets or convenience stores, order takeout, or go out to eat.
How can your restaurant compete?
The answer is as simple as it is challenging: Get customers to meet the four-visit milestone.
Obviously, you want people to visit, and to visit often. But your goals can be much more specific than that. Data shows that each visit increases the chance that a customer will visit again, effectively choosing you over your competitors.