SOCIAL: Share User-Generated Content (UGC) for Free Social Content [Hack #111]
Considering this a follow-up to our last hack on how to get your guests to promote your restaurant. Once your guests have promoted your restaurant on social, share that content on your own accounts! This is an easy way of having content to share on your online accounts with little effort on your part. At the same time, your guests will enjoy getting a little recognition.
DID YOU KNOWS…
EZ Biz
Doing Business 2020 examined changes in the regulation of business activity in 190 economies to see where regulation levels best encourage efficiency and support the freedom to do business. The analysis looked into factors such as how easy it is to start a business, hire workers, deal with construction permits and obtain credit, among others. New Zealand had the best score this year and it's notable as having the lowest number of procedures required to start a new business (along with Georgia) as well as the shortest time to start a business at just 0.5 days. The US just missed the Top 5.
Economic Pessimism
Within the next six months, economic development is expected to deteriorate significantly according to the Statista's new “Global Economic Outlook Score” (GEO). The most negative outlook will be in Europe at -22 percent while Asia will be the most positive region globally with +6 percent. The country-specific findings highlight this general switch to concern about the future economic situation but vary depending on the respective nation: In the US, a score of +58% for the current economic situation is quite positive, but it deteriorates heavily to -11% when considering the economic development for the next six months.
Making More on the ‘Gram
After Cristiano Ronaldo made the switch from Real Madrid to Juventus, his annual salary was in the region of $34 million, according to Goal.com. As lucrative as that salary is, the five time Ballon d'or/Best FIFA Men's Player winner actually earns far more money from paid Instagram posts. That's according to a Hopper HQ study on Buzz Bingo which was published by Business Insider. It found that Ronaldo has earned $47.8 million from paid Instagram posts over the past year and that he is the platform's highest earner.
THE PHOENIX RISES
Why it matters to you: Chipotle’s comeback is tied directly to their digital ordering/loyalty performance.
We often point to the chain groups to see the future of our industry. They have the resources and shareholder pressure to always be looking for efficiencies. They often fail at the trends they adopt and that allows us to learn at their expense. Consequently, independents and small chain operators can benefit from their folly and successes to determine their own strategies for future development. One of the best examples of both folly and success is definitively Chipotle. No other national chain has known more ups and downs over the past three years and it appears it’s all ups these days over. The folks at Chipotle would tell you it’s a combination of investing in their people and accessing the digital ordering and loyalty market that has driven their phoenix like rising from the ashes of 2017’s multiple food safety scares.
Chipotle’s same-store sales jumped 11% in Q3, it’s the ninth straight positive quarter. Analysts had estimated an increase of 9.3%, according to Consensus Metrix. When it comes to Chipotle, however, it’s pretty clear that its robust digital ecosystem is king. Digital sales this quarter rose 88%. That’s a staggering number to be sure, but even more so when considering the chain’s previous quarter, in which digital sales were up 100%. What this means to you is that digital sales are not just a convenience at this point, but necessity. Whether it’s ordering on your website, adding a name to your waiting list remotely or leveraging a digital loyalty program, engaging your guests digitally is an absolute must in the 21st century restaurant landscape. Now is DEFINITELY the time to take action and integrate digital access wherever you can. Without it, you are literally going to a Star Wars battle with Revolutionary War tools.
[Source: Forbes]
DARDEN WINS THE WAR FOR TALENT
Why it matters to you: The restaurant giant’s efforts to improve retention is paying off, big time.
As observed in today’s other microblog, it’s good to follow the leaders in our industry. They have the resources to vet their strategies and prove them valuable. Which is why today’s second story is also focused on a national operator. This time, it is Darden’s moment in the spotlight for the incredible work they have done in improving their staffing performance. The operators of Olive Garden, Season’s 52, Yard House, and several other concepts have been focusing consistently on retention over the past several years and the results appear self-evident. From certified trainer programs to increasing wages to remain ahead of the market, Darden has worked assiduously to win “The War for Talent”. Here are the results of that effort.
With regard to sales, they are 4.4% above the market for their growth trajectory in same store sales and not just provided by new store openings. Even more impressive is their 10% lead on the market as it pertains to management turnover. This isn’t limited to managers, however. Take Longhorn Steakhouse, another of Darden’s concepts. Their staff turnover was a paltry 68% versus an industry average of 120%. The only credible question from here is, “Why aren’t you following suit and investing in your people and their work experience with your restaurant?” Woe unto you if you fail to see the connection between retention/work-life quality and sales growth, because clearly your national competitors have figured that much out.
[Source: FSR Magazine]
