01 Jul Tips to Beat the Competition
When launching a new business into the crazy world of the restaurant industry, it can be costly to assume your model is perfect, and not be willing to adapt. Many owners pour their heart and soul, not to mention their blood sweat and tears, into their business, and it can feel like a personal failure when the market doesn’t seem to like what you’re offering. But putting feelings aside, the goal of bringing a successful establishment to the community, that will be around for more than a week, is possible if you can listen to feedback from your audience. That’s why some of the best tactics to beat the competition include being agile in your approach, your menu, and even your location. How is this possible, without creating a new restaurant over from scratch? With agile management.
Agile management is used in all industries, and is a way to test different parts of the business to see which yields the best results. Business owners or managers collect data to understand what their customers want, don’t want, and can adjust their offerings quickly to make improvements. When applied to the restaurant industry, this can be done for menu items, pricing models, even in branding and marketing. Using a mix of agile strategies can help steer your business in the right direction.
A/B Testing. When you’re not sure exactly which marketing piece is going to be more impactful, you can launch two, and see which performs better. Not sure which landing page on your website will have better response rate? Randomly direct website visitors to two different pages, and watch the data pour in. With digital displays in restaurants, its easier than ever to A/B test menu items, and even pricing. By varying combinations, and tracking sales, you’ll be able to get hard data that guessing at client reactions just won’t provide.
Temporary Locations. Want to test out a restaurant concept before committing to a long term lease? Food trucks allow for this try-it-out approach without the overhead associated with a brick and mortar kitchen. With no lease, no large staff, and a considerably smaller kitchen, you can test whether your neighborhood will support your new idea, without a huge risk. Similarly, if your best dishes really can’t be made on wheels, popups dinners are another option. Often hosted outdoors, in fields, at wedding venues, malls, or even in museums, these are a quick and efficient way to get feedback from your target customers.
Limited Time Offerings. Using this traditional marketing tactic actually gives the kitchen time to work out a recipe to perfection, and for the sales team to perfect their delivery. Feedback provided either in person or online allows for guidance on what dishes to keep, and what limited time offers to plan for the future.
Soft Openings. As you’re opening a new restaurant, there are bound to be kinks that need to be worked out, both in the back of house and in the front of house. Having a soft opening allows for these issues to be worked out, and any agile adjustments needed to be made can be done before a grand opening. Feedback provided during this soft opening is incredibly valuable, if you’re in a position to respond to it.
The restaurant industry is saturated and with evolving diner tastes, speed and adaptability are the best tactics to beat the competition.
About The Company
OrderMatic Corporation develops solutions that enhance the customer transactional experience in new and innovative ways. OrderMatic designs and manufactures drive thru menu boards, branded next generation signage, pos and technology solutions, and drive in products and accessories for quick service restaurants, retail merchants, and sports and entertainment venues. For over 60 years, OrderMatic is the official drive thru and drive in partner everywhere.