article thumbnail

Three Steps to Improving Customer Loyalty During the Pandemic 

Modern Restaurant Management

And while the pressures of the pandemic continue, customer loyalty can play a role in whether or not restaurants will sink or swim. It's reported that with as little as a five percent increase in customer retention, a business can improve its overall profits by up to 25 percent. First, consider adopting a touchless loyalty system.

article thumbnail

2024 Outlook: Restaurant Trends and Challenges, Part Three

Modern Restaurant Management

Other advancements include: integrating data from various sources, including social media, reviews, and loyalty programs, to gain a holistic view of customer behaviour as well as as well as the implementation of real-time analytics for immediate insights into customer behaviour and preferences.

2024 212
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

The Complete Guide to Creating a Winning Restaurant Newsletter (+Real Examples)

7 Shifts

Benefits of Having an Engaging Newsletter for Your Restaurant Business. It helps in business promotion. An email newsletter allows your business to communicate regularly with customers outside of your restaurant's four walls. Business updates. Benefits of having an engaging newsletter. 10 Restaurant Newsletter Ideas.

article thumbnail

What Can Restaurants Do to Survive the Winter Season?

Modern Restaurant Management

Independently owned restaurants face a much tougher road, although they may inspire stronger local customer loyalty. If you’re not readily discoverable online your competitor will get your business (e.g., “best Indian restaurant near me”). Focus on the Major Consumer Platforms. Accurate contact information (i.e.,

article thumbnail

How to Open a Coffee Shop: The Ultimate Guide

7 Shifts

Write a Coffee Shop Business Plan. This step and research component is the foundation behind your business, and should be taken seriously! Visit them to learn more about what drives their business. Do they serve just coffee or small foods as well? Competition and neighboring businesses. Table of Contents.

License 459
article thumbnail

Survey Says: Restaurateurs Are Making Expansion Plans

Modern Restaurant Management

The website is one part of it, but it’s also about maintaining an active social media presence, offering a loyalty program, and investing in ongoing marketing campaigns. Inventory : Generally, when food costs go up, operators will raise their menu prices by a small amount. I think that’s definitely part of it.

2024 198
article thumbnail

How to Increase Profitability by Building Customer Retention

Restaurant365

Building a customer retention program is important for improving the lifetime value of current customers, which can make up a large portion of your restaurant’s revenue. Customer retention statistics show that 65% of a company’s business comes from existing customers. Create loyalty programs, incentives, and special deals.