8-Step Guide to Mastering Data for QSR's

Maximize your Restaurant's Growth through Effective Data Utilization: A Step-by-Step Guide

Unleash your restaurant's potential through strategic data utilization. This guide will help you understand, manage, and use your customer data to grow your business. Learn how to collect accurate data, segment your audience, personalize marketing efforts, optimize your menu and pricing, enhance customer experience, train your staff, measure your success, and stay compliant and secure. Let's untangle the complexities of data and transform it into a strategic asset that drives increased sales, customer retention, and an overall enhanced dining experience. Stay tuned for a stress-free dive into the ocean of data for a thriving restaurant.

01:36 Understanding Your Data

03:24 Segmenting Your Audience

05:02 Personalizing Marketing Strategies

06:31 Optimizing Your Menu and Pricing

07:24 Enhancing Customer Experience

08:08 Training Your Staff

08:39 Measuring and Adjusting

09:09 Staying Compliant and Secure

09:38 Conclusion: Embrace the Change

Unlocking Profitability: A Discussion with Vinny Puleio

In this episode, special guest Vinny Puleio joins us. A seasoned expert in the hospitality sector with 20 years of success as a restaurateur, startup investor, and consultant, Vinny shares his insights on how dynamic pricing could be best integrated, the concept of adapting new pricing strategies given the rising interest rates, and how such pricing strategies may influence customer satisfaction. He also discusses the importance of data in conducting operations, testing, and making informed decisions to grow in the industry.

01:15 Discussion on Dynamic Pricing in the Restaurant Industry

03:17 Exploring the Impact of Dynamic Pricing on Different Restaurant Formats

04:33 Debating the Need for 'Dynamic' in Dynamic Pricing

07:47 The Role of Transparency and Customer Satisfaction in Dynamic Pricing

09:33 The Future of Dynamic Pricing: Challenges and Opportunities

23:23 Concluding Remarks and Guest Contact Information

Industry expert and Canada's top food service influencer, Jay Ashton, breaks down the complexities and opportunities of dynamic pricing in the food service industry.

Ashton emphasizes on communication, transparency, wise adoption of technology and embracing changes for improving customer experience while ensuring profitability. He encourages restaurateurs to be authentic, innovative, and purpose-driven in implementing pricing strategies that could prove key to their success.

Tune in to gain valuable insights into catering to evolving consumer behaviors, leveraging AI and historical patterns, and the importance of profit margins. Ashton’s perspective paves the way for meaningful discussions around the future of restaurant pricing.

01:43 Discussion on Dynamic Pricing in Hospitality

01:59 Insights on Dynamic Pricing Adoption

03:50 Historical Perspective on Pricing and Menus

05:17 Menu Optimization and Pricing Strategies

11:48 Challenges of Print Menus and Pricing

14:49 Balancing Dynamic Pricing with Customer Experience

20:32 Communicating Dynamic Pricing to Customers

22:57 Jay Ashton Contact Information and Closing Remarks

In this episode of the Restaurant Growth Show Podcast, hosts Gordon and Jose delve into the recent announcement by DoorDash - its testing of a new system that warns customers who do not tip.

This leads them to question the concept of tipping in itself and its relevance in the current day, along with the implications it holds for service providers and operators.

The hosts discuss the pros and cons of tipping culture within the Western world, how it could potentially affect restaurant operators, and whether it should be changed or done away with completely.

00:00 Introduction and DoorDash's New Tipping System

01:30 Discussion on DoorDash's Announcement

02:47 The Impact of Tipping on Delivery Drivers

04:30 The Effect of Tipping on Customers and Operators

05:08 Questioning the Tipping Culture

10:23 Pros and Cons of Tipping Culture

21:03 Conclusion: The True Cost of a Tip

Peter De Bruyn, with over 30 years of experience in the industry, shares his insights on how technology has evolved in foodservice, from mere time-management tools to sophisticated systems offering personalized nutrition plans.

He emphasizes the importance of understanding business problems to decide on the appropriate technology and talks about the need to gradually introduce new systems to ensure staff adapt effectively. The episode also sheds light on the changing landscape of quick service restaurants, including labor scarcity, price hikes, and greater focus on customer experience.

🔥 Mark Kuperman of RMS cuts through the noise on dynamic pricing: "It will upset customers." As we explore in The Restaurant Growth Show Ep 25, is the restaurant industry ready for such a shift, or will it echo the tipping backlash in NYC?

We dive into:

The impact of dynamic pricing on customer loyalty.

Why modifying delivery fees could be the smart move.

The viability of straightforward pricing with strategic discounts.

#DynamicPricing #Restaurants #CustomerLoyalty #BusinessInsights #TheRestaurantGrowthShow

🎧 Tune in for expert insights on evolving your pricing without losing customer trust.

🎙️ The Restaurant Growth Show Podcast dives deep into the synergy between sponsorship marketing and tech for restaurateurs.

🔸 Special Guest Spotlight: Brent Barootes

The force behind the Partnership Group – Sponsorship Specialists® and the mastermind that brought brands like Red Lobster Canada and Chi Chi’s Mexican Restaurants into the limelight.

📘 A bestselling author. 30+ years shaping sponsorship marketing in Canada. And today, he’s with us to shed light on how technology is revolutionizing sponsorship avenues for the hospitality sector.

🔍 Highlights:

Brent’s unexpected segue from nightclub ops to the big leagues with the Calgary Flames & Ottawa Senators broadcasts.

The evolution of tech in sponsorships: a journey worth noting.

Unlocking the potential of data analytics for pinpointing sponsorship fits.

Blending tech platforms with sponsorship ops: Boosting ROI without compromising user experience.

Feeling the FOMO with recent restaurant tech events? Brent might just have the answer to that too.

Stay ahead of the curve. Tap into insights that can propel your restaurant’s growth. Episode 24 is live now. Don't miss it! 💡

Consider this: What if the digital landscape was reshaped in such a way that every restaurant, regardless of its history, could have a genuine shot at the spotlight?

Imagine an environment where true quality, not just past performance or deep pockets, determines success. In this episode, we'll dissect 6 pivotal outcomes of this lawsuit and explore:

• The Potential for True Personalization & Fair Play: A future where newer or less-known restaurants aren’t overshadowed by established giants.

• Restaurant Performance & The Power of Transparency: How understanding the rules can be a game-changer for restaurants.

• The Real Cost of Marketing Commissions: The financial implications of regulatory changes for restaurants wanting to be seen.

• Customer Filters & The Power of Choice: The evolving dynamics of customer preferences and their strategic implications.

• Promotions Under the Microscope: How the days of easy promotional visibility might be numbered.

• A Shift in Partnerships & Acquisitions: Opportunities, challenges, and the reshaping of the digital playing field.

The winds of change from Amazon's legal battle have the potential to redefine the restaurant industry's digital ecosystem. While challenges are inevitable, they also usher in the promise of a landscape where genuine performance takes center stage.

Dive into an era where square burgers meet round solutions. Wendy's isn't just revamping its menu; it's redefining QSR with a tech-driven approach.

By 2024, anticipate over 200 sleek units amplifying digital efficiency, all centered on today's discerning customer.

And with AI steering the drive-thru? The aim is clear: transform every casual order into a Wendy's loyalty pledge. Stay tuned as we dissect this tech-forward strategy and extract lessons you can apply.

Harnessing Dynamic Pricing for Restaurant Success: Unraveling the Matrix of Marketing Mix🍽️

In Episode 21 of our podcast, we decode 9 strategic ways to infuse Dynamic Pricing into your restaurant's marketing:

🔸 Capitalize on demand fluctuations for optimal pricing.

🔸 Dayparts & days: Tailor pricing to time.

🔸 Seasonal shifts: Adapt to preferences, demands, and ingredients.

🔸 Use events to create urgency and allure.

🔸 Reward loyalty with exclusive deals.

🔸 Maximize 3P platforms for off-peak incentives.

🔸 Leverage customer data for targeted campaigns.

🔸 A/B test: Constantly refine your strategy.

Transparency is vital. Ensure customers understand the rationale behind price shifts.

A hat-tip to the insights from the Digital Restaurant Association Summit and a special thanks to the association's Executive Director, Joe Reinstein for his valuable contribution to the list.

Equip yourself. Dive in, and master the art of dynamic pricing.🎧