FSR Magazine recently published an article by Jonathan Marek, APT SVP, about strategies to consider both before implementing a loyalty program and once one is in place. Here is the link to the article: http://www.fsrmagazine.com/service/should-you-implement-guest-loyalty-program
Recently, the Wall Street Journal and the Associated Press ran articles in which I was quoted regarding McDonald’s announcement that apple slices will replace some of the fries in its Happy Meal. McDonald’s move is both innovative and smart.
Here are five thoughts on why this move makes sense: (more…)
This article in the New York Times, plus my interview in Fast Company, got me thinking again about Groupon economics. To be clear, I’m talking here about the Daily Deal type offers, not more sophisticated customer-targeted, location-based, fill-up-empty-seats-right-now types of offers.
Here’s the crux, a restaurateur describing a successful Groupon in which a consumer receives a voucher for $14 worth of food by paying Groupon $7 ($3.50 of which Groupon pays the restaurant) :
“You don’t make money on the deal,” Mr. Massari acknowledged, “but in the end we are even.”
That’s because “people spend more than on the coupon amount,” he said. “They’ve been ordering about double the $14 from us. And people usually bring other customers, who are paying full price.”
Beyond that, among those who are redeeming coupons, “80 percent have come back without a coupon,” he said.
Let’s think through each piece of that, imagining for the moment we sold 1000 Groupons: (more…)
This post is the third in a three part series on ideas that will shape restaurant performance in 2011.
Part Three: Marketing
applebees, calorie counts, calorie information, carlson restaurants, chipotle, dine equity, facebook, Food Trends, foursquare, KFC, marketing, McDonald’s, Media, menu labeling, social media, TGI Fridays, yum! brands