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Marketing ROI: It Starts With Knowledge of Performance

analytics

Every day the modern restaurant records swaths of data. Transactions, discounts, e-clubs, loyalty programs, each has the potential to provide restaurant marketers with actionable insights about how their customers behave and what drives them through the restaurant’s doors.  Yet the more data that a restaurateur has access to, the less obvious it is to find meaning in the myriad numbers.  What are the opportunities associated with effectively capturing, analyzing and applying all the data?

Anthropologist Gregory Bateson defined information as “the difference that makes a difference.” For restaurateurs, that difference is knowledge of performance. If you can measure performance, that data becomes information that you can use to drive results.  Think:  Campaign performance.  Channel performance.  Return on acquisition.  Return on offers.  Can you measure all of those events?  If you can, you’ll have the insights you need to create or leverage opportunities. 

Think about this:  if you can measure the performance of a welcome message, you can use that information to optimize it, re-target non-openers, and drive incremental revenues.  If you can measure the performance of all of your marketing channels, you can compare them and make investment decisions about your marketing spend.  If you can measure acquisition – not just the cost, which is important, but also the ongoing value of the acquired guests – you can determine the value of those guests over time.  And if you use offers as promotions, performance data will let you understand the ROI of that campaign, which should guide your future planning.

At Fishbowl, we are focused on giving restaurant operators the information they need to proactively and predictably grow their sales. It’s what our marketing solutions platform is all about.  We start by giving you the tool you need to measure performance. And that knowledge? It makes the difference.