Are you doing everything you can to give your customers a dining experience that keeps them coming back for more? Although there’s value to attracting new customers to your restaurant, Harvard research shows that it’s more cost-effective to invest in customer retention. In fact, a mere 5% increase in repeat business can stimulate a 25-95% profit increase. Bloated marketing budgets represent a costly gamble when the opportunity to capture a more sustainable revenue stream is ripe for the picking.
Now is the time for restaurant professionals to embrace new tactics for creating unforgettable dining experiences. By offering customers tantalizing virtual walkthroughs of your establishment and the ability to purchase the seat of their choosing, Tablz provides restaurant concepts of all types, a powerful tool for enhancing customer experience and building more diverse revenue streams.
Reservation Technology that Engages Guests
The customer’s first impression of your restaurant sets the tone for the entire dining experience. And that impression is established long before the menu drops. The reservation is where it all begins. So, restaurants should do everything in their power to enhance this often overlooked part of the customer experience.
The days of answering the phone and penciling in reservations are over– or at least they should be. According to a study by Toast, 73% of restaurant guests say they value the ability to make reservations online. On top of that, research shows that guests are more than twice as likely to visit an establishment with photos displaying the restaurant experience. Customers demand a more convenient and visually stimulating online reservation process, and Tablz provides precisely that. By integrating with your existing reservation system, Tablz uses more than just a few static pictures to convey the ambiance of your restaurant. Employing augmented reality technology to produce an interactive, 3-dimensional tour of the restaurant, all your guests can enjoy a stimulating and transparent reservation experience.
Creating A VIP Experience
Let’s face it. Some of your restaurant’s seats are straight-up better than others. Whether it’s ring-side seats to your chef’s culinary prowess or the table with the best view of the Big Game, every restaurant floor has a few pieces of prime real estate.
This is where Tablz can help foster customer loyalty and increase revenue. By providing your guests the option to reserve the best tables during the most high-demand times for a price, you don’t just get a profit boost from the upfront table fee. The optional paid reservation feature acts as a qualifier that rewards customers that are both more likely to spend more at the table and become repeat customers with a premium dining experience. Think about this within the context of a study carried out by Cornell University which found that restaurants charging for reservations had higher check averages than those that didn’t charge for tables.
Guests willing to put some skin in the game for a table are more invested in their dining experience than other customers. They’re the ones who will order that extra bottle of wine and order a selection of appetizers and desserts for the table. And, because they got to enjoy the ambiance and perks of the best seat in the house, you’ll have just created a life-long customer.
Diversified Revenue Growth With Tablz
According to a 2023 report, 87% of restaurants plan to offer “non-core” products and services this year.
But when most people think about revenue diversification for restaurant income, tactics like selling merchandise, offering catering services, or even offering cooking classes typically come to mind. The problem is that most secondary income sources for restaurants require a risky gamble of capital and labor without guaranteed returns.
Tablz offers your restaurant the opportunity to establish a secondary income stream without having to invest time and money into what is essentially another business running alongside your restaurant service. And with zero-cost plans, there’s no risk in growing and diversifying your revenue with Tablz.
Final Thoughts
Whether your establishment serves foie gras to metropolitan foodies or slings pints of beer to the local softball league, the ambiance of your best tables and sections is an asset and it’s time you put it to work. For restaurant professionals who truly understand the value of zero-risk revenue diversification, EMERGING’s data analytics division, allows you to monetize your restaurant’s POS data. For restaurants ready to take revenue generation to the next level F&B Insights advanced data analytics provides the tools you need to raise capital and launch your business to the next level.
