Monday, May 22, 2017
BUSINESS: How to Drive Sales from Your Transaction Data
According to a recent Restaurant.org report, the majority of restaurants have not integrated transaction data into their business strategy. That’s a problem to fix.
DID YOU KNOWs…
Lots of interesting things happen at the bar. Munchies gave us the most important reasons to never break up with someone at a bar straight from bartending witnesses. Drinks will be thrown.
The popular restaurant listing service app Zomato was the latest victim of a breach compromising over 17 million customer emails and passwords. Zomato technologists report that all payment info was not affected by the attack and that the company is working to close security gaps.
Beefing Up Equity
Millennials are beefing up restaurant brands equity for coffee, quick service, and casual dining establishments according to a recent study. The data measures brand health over time in comparison with customer responses measured alongside a restaurant chain’s brand equity.
MUCH MORE THAN MARKETING
Why it matters to you: here's what to consider with your marketing.
Restaurant marketing can be a challenge especially when you’re on a time crunch. A Forbes article provided tips in marketing restaurants related to technology and data that could improve their bottom line. Some of the highlights from the article relate to using a streamline platform that can cut back time spent searching for information but rather have orders, delivery and to orders, inventory, and customer relationship management all in one application. Important aspects of data to understand with regard to marketing involve patterns in orders, customer visits, and financial statements on expenses to address lulls in the business flow.
Overall, restaurant marketing is reliant on whether your efforts are a return on investment. Key aspects to understand this concept relate to fluctuations in returning customers, efficient operations, greater profitability and ongoing opportunities to add more revenue streams. Restaurant marketing contributes to standing out from the crowd. Engaging promotional is equally as important to the business process but will not be as effective if all other aspects of the business flow are not in order. Tracking data is crucial to success to determine where efforts are working versus when to adjust course.
YALE DEAN GOT YELPED
Why it matters to you: Yale dean faces backlash over Yelp reviews.
The Yale University dean has apologized for controversial Yelp reviews that have been circulating around the Yale community for months. Just recently these reviews were brought to the school’s attention where the Pierson College dean, June Chu, drops some rather offensive terms about a New Haven, Connecticut restaurant in a Yelp review. In one review the dean wrote, “To put it quite simply: if you are white trash, this is the perfect night out for you!” Another dean of the college claimed the reviews were brought to his attention by the dean of student affairs, and soon after, Chu sent an email apologizing to the student body.
Despite the controversial Yelp reviews, Chu has not been asked to resign from her position. Unfortunately, there is little we can do when people leave insensitive and untrue reviews about our establishment. It is increasingly important to respond to negative Yelp reviews to address the problem whether it be via apology or explanation. In this case, a dean at a prestigious college not only packs a bigger punch but could potentially damage the restaurant’s reputation. Chu as since deleted her Yelp account writing that, “My remarks were wrong. There are no two ways about it. Not only were they insensitive in matters related to class and race; they demean the values to which I hold myself and which I offer as a member of this community.”