Most marketing activities today dwell on advertisements and in-store promotions. Personally, I like doing a combination of advertisements, in-store promos and events. Adevrtisements let out the information about your restaurant in places and media that matches your target market. In-store promotions push your average check higher and make good foundation for guest loyalty. Events are the the between-the-line marketing activities that, in my opinion, give more value and substance to your restaurant in the eyes of the consumer.
Events. Why events? Admittedly, most events tend to be expensive, tedious and eats up a lot of manpower time and company resources. But why do restaurants bother having events?
I believe that events, if executed properly, give your restaurants better exposure than advertisements. Longer exposure, media value and the ability to zero in on the essence of your restaurant.
What events can your restaurant do? Let's start with your own occasion: Anniversary. You can also other occasions related to your restaurant. Example, if you serve crabs and there is a National Crab Day, then it sure is a good way to have an event. Other events are occasion-based: Valentines, Christmas, Easter, Thanksgiving and the like. Other events can also be customized according to the objective of your event. If you want to highlight a new service or dish, you can build or conceptualize an event around that service or dish.
When I do events for restaurants, I alwasy stick to my original marketing product mix. Stick to your target market, packaging, place and price.
Sunday, March 15, 2009
Tuesday, March 10, 2009
How has the crisis affected your restaurant?
Living in the Philippines, I am quite sure that businesses are not entirely affected by the US recession. From what I have seen, most homegrown businesses and micro enterprises are more resilient in these situations. It is those huge export-driven businesses that I think have been affected most.
How about us in the restaurant industry? Have we been hit hard or is just another day in another year?
In the cities where I go to, I am glad to note that business is good as ever and for some even getting better. Admittedly, some restaurants feel a little decrease in customer share of clients coming from US companies like pharmaceuticals and agricultural companies. Example is, if before, these medical representatives would dine out like almost everyday. Now, they have reduced that frequency to almost once a week or even less frequent.
Other restaurants feel a decrease in average check. People still dine out but are a little bit thriftier.
Hopefully this is not the case for you. If you experience a decrease in guest check, it is time for another review of your menu. Push your dishes which give you high profit margin. At this point, try to eliminate from your menu those that barely give you any profit.
On the other hand, this may be a good time to use imported goods as the prices might be cheaper or if they are still not cheap, would be the best time to haggle. Businesses abroad need all the business they can get even at a meager profit margin.
Strengthen your menu. Create dishes that are of "value". This means dishes that will look like a lot to customers but will be of very little cost to you and one that you can sell at an inexpensive price.
This recessino is not for a few months but maybe till he 3rd quarter or even the 4th quarter of the year. So make sure that your business is ready for any hard hits.
How about us in the restaurant industry? Have we been hit hard or is just another day in another year?
In the cities where I go to, I am glad to note that business is good as ever and for some even getting better. Admittedly, some restaurants feel a little decrease in customer share of clients coming from US companies like pharmaceuticals and agricultural companies. Example is, if before, these medical representatives would dine out like almost everyday. Now, they have reduced that frequency to almost once a week or even less frequent.
Other restaurants feel a decrease in average check. People still dine out but are a little bit thriftier.
Hopefully this is not the case for you. If you experience a decrease in guest check, it is time for another review of your menu. Push your dishes which give you high profit margin. At this point, try to eliminate from your menu those that barely give you any profit.
On the other hand, this may be a good time to use imported goods as the prices might be cheaper or if they are still not cheap, would be the best time to haggle. Businesses abroad need all the business they can get even at a meager profit margin.
Strengthen your menu. Create dishes that are of "value". This means dishes that will look like a lot to customers but will be of very little cost to you and one that you can sell at an inexpensive price.
This recessino is not for a few months but maybe till he 3rd quarter or even the 4th quarter of the year. So make sure that your business is ready for any hard hits.
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