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By Sofia Hondrogiorge
So far you have learnt about the importance that menu layout, pricing and descriptions play in lifting sales revenue.
In part 3 of our 'Boosting sales revenue with your menu' mini-series we will be talking about how you can generate more sales with persuasive selling and promotions – arguably one of the most importance parts!
Mini-series inclusions;
How the layout of your menu can help lift sales revenue How pricing & descriptions increase sales revenue How persuasive selling and promotions on your menu boost sales revenue - The role menu aesthetics and visuals play in improving sales revenue
Understanding the power persuasive suggestions and promotions play on your customers purchase decisions is imperative. Knowing what your customers want and selling to them accordingly is the biggest money-making gold mine for any restaurant.
On a standard paper menu, you are limited in your ability to create a menu that each individual customer will enjoy. Instead, you do all that you can and build your promotions around what you think your wider customer demographic will enjoy – Marketing to the venue as a whole, not the individual. It is these assumptions, often not led by customer data that can harm a restaurant and fast track your loss in money. For example, you might know that your wider demographic is around the 60-70-year-old age group and assume that your wider customer demographic likes to order hot drinks. You may build out a promotion around coffee and tea based on your assumption that this is what your demographic likes, perhaps without even considering your profit margins on the items you are promoting, and how this type of promotion will be adopted by those that do not order tea and coffee.
Companies such as TabSquare.AI use the power of artificial intelligence (AI) to target the market of one. This means that instead of offering company wide promotions, promotions will be tailored to the individual and will reflect their desired taste profile. Taking the coffee and tea example above, with TabSquare.AI’s AI-powered promotions, there will be no coffee and tea promotions pushed to customers that don’t drink coffee or tea. They will only receive promotions that are relevant to them. Instead, they may receive a promotion for a hot chocolate – based on their taste profile of course. Results indicate that when a customer is presented with a promotion of something they like, even if they weren’t considering buying it pre promotion the likelihood is that they will purchase it. Lifting average bill values and generating more revenue that generic store-wide promotions.
Similarly, venues that do not use self-ordering solutions must rely either on the menu itself or staff members to upsell and cross-sell items. Upselling and cross-selling isn’t easy, with the waiter needing to intervene to push the extra sale. Even with the waiter’s input, there are often inconsistencies in staff members upselling and cross-selling, with little to no personalisation, especially during busy periods where customer service can fall short.
Companies such as TabSquare.AI eliminate the guesswork in promotions and make cross-selling and upselling as easy as can be – boosting profitability for restaurant owners with ease. Providing restaurant owners data led insights on their promotional activities ensures customers are presented with accurate and relevant sales and also presents restaurateurs with avenues to create data-driven campaigns that will deliver results.
How is this done? TabSquare.AI’s menus are digital and are powered by artificial intelligence (AI). The capability of machine learning allows the device to not only capture, but understand customer purchase behaviours. These deep learning algorithms continuously get smarter, making the promotions better aligned with individual customers taste preferences. Results from AI based promotions indicate on average a higher spend per customer and an increased adoption rate.
When you put the revenue generating power in the hands of your menu, you will be sure to see results and improve sales as consistency and accuracy is guaranteed. Taking the guesswork out of promotions and removing upselling and cross-selling from the hands of your waiters will result in increased sales revenue and more importantly, enhanced customer satisfaction. This will keep your customers happy and coming back for more.
Do you want to turn your standard paper-based menu into an intelligent self-ordering menu that sells to your customers in an intelligent way? If you want smarter sales that generate higher revenues, contact us today to learn more about how it works!
