Alex Munford’s Post

If your restaurant isn't building a huge list and blasting it to sell things throughout the year, like gift cards, you're missing out on tons of fresh revenue. One of our Sports Bar clients in St. Louis, generated $27,260 in gift card sales directly related to our campaigns. (see screenshot) What would an extra $27k during all the holidays mean for your restaurant? Christmas, Valentine's, Thanksgiving, new menu items, events... There are so many ways to make money from building contact lists, then communicating with it regularly to upsell and drive repeat visits.

Absolutely agree with this R365 article on Restaurant Gift Card Best Practices! 🎁 The holiday season is right around the corner, and the question is, "Are you prepared for the season of gift-giving?" Gift cards are a lifeline for immediate cash flow, fostering customer loyalty, and attracting new patrons. The emphasis on integrating with POS systems, considering discounts, and promoting across various channels is key for success. A well-executed gift card program boosts revenue and builds lasting customer relationships. Nice one, Nate! #RestaurantSuccess #GiftCardStrategies #Restaurant365

🌟 Serve Up Success with Gift Cards! 🌟 Discover how restaurant gift cards can boost your revenue, secure future sales, and create lasting connections with customers. From enhancing brand visibility to attracting new patrons, gift cards offer a winning formula for success. Check out our latest blog to learn actionable tips and strategies for making the most of gift cards in your restaurant business. 🔗 Read the full blog here: https://lnkd.in/edVgBPBZ #RestaurantSuccess #GiftCards #CustomerLoyalty #Zuppler

I live about 2 hours drive away from my Mum which means when we do spend time together it is regularly in Borough Market dining at Elliot's or sipping wine in one of the many wonderful arches. 🍷 These experiences last a lifetime, unlike those flowers that will wilt, or the chocolate that will last all of 2 minutes! And this year Toggle is predicting a whopping 177% surge in gift card sales for #mothersday. Operators offering gift cards with added-value promotions like ‘£10 off when you spend £30’ are seeing a 533% increase in total spend from the original redemption value. A win-win i'm sure every business wants! 🎉 So whether it's an Afternoon Tea, a Spa Day, a perfect 'Sunday Lunch for Two', or simply a gift card promotion this Mother's Day, Toggle's advice is to make sure your customers, your passers-by, and your future customers know about it! 💌 #giftcards #marketing #hospitality

#customerretention #lessonlearned: Recovery is the attempt to make up for a poor customer experience. If done right, the recovery action helps ensure vulnerable customers are kept and ultimately become lifelong, loyal customers dedicated to the brand. A good recovery action doesn't merely make up for the mistake, such as a refund or replacement. Rather, it goes beyond to make up for the inconvenience. For example, if something is amiss with your hotel room the front desk upgrades you to a suite. Perhaps a restaurant makes up for a mistake in your food order by providing a round of drinks and/or desserts for your table. The picture below shows my replacement hiking boots for pair that had a problem. Dick's Sporting Goods not only shipped the replacement pair, they tossed in a $25 gift card for my trouble. I recall a customer was waiting on a spare part when I worked as a planner at a global DC. This was for a component for which the backorder would take at least a week to fill. I offered them the entire assembly free of charge, including shipping, which could ship out that day. It's because I knew the value of reputation in the marketplace. Word-of-mouth is now, always has been, and always will be the most influential form of advertising, noting word-of-mouth in today's terms includes internet reviews. It is important to note that customers are much more likely to share negative experiences than positive ones.... why? Because there's no reason to brag that our meal order was correct, the flight was on time, etc. It was expected! What examples of recovery can you share? #customerretention #ascm #apics #cpim #cltd #cscp #ctsc #operationalexcellence #wordofmouthmarketing #reputationmatters #branding #leor

4 Ways to Support Your Local Hospitality Businesses This Summer 🏪🌞 A report by CGA by NIQ reveals, the hospitality sector is showing signs of resilience, with closure rates slowing from 8 sites per day in 2023 to 4 per day in Q1 2024🔻 However, the current total of 98,745 hospitality venues is well below the 115,000+ that were operating pre-pandemic. It will take time and sustained growth for the sector to fully recover and rebuild 🙏 With summer in sight, there's no better time to get out and support your local restaurants, pubs, and cafes. Here are 4 creative ways you can help the sector bounce back 1. Buy a reusable cup from your favourite cafe - Not only will you reduce waste, but many places offer discounts to customers who bring their own cups. 🌱☕ 2. Participate in a restaurant loyalty scheme - Sign up for loyalty to earn rewards for eating out and help your favourite spots track customer engagement 💳 3. Leave a positive review - Share your positive experiences on review sites and social media. This helps boost the visibility and reputation of local businesses. 📲 4. Buy a gift card - Purchase gift cards from your favourite restaurants and cafes to support them now and enjoy later. It's a great way to spread out spending or even treat a special someone 🎁 By coming together as a community and supporting our local businesses, we can help them weather the storm and emerge stronger than ever 💪🌞

Transforming Customer Acquisition with Gift Cards at Stone, Fire & Steel I recently embraced a game-changing strategy for my Shopify store, Stone, Fire & Steel, inspired by insights from Alex Hormozi: viewing gift cards not just as products, but as powerful tools for customer acquisition. 🎁 We introduced a striking 90% off on gift cards, with a twist – each customer can buy up to 2, but they must be used by different people. This not only incentivizes purchases but also encourages our customers to bring new people into our community. 💡 Statistics from The Hustle reveal that between 10-19% of gift cards remain unredeemed at any given time, and about 6% are never redeemed. This presents a unique opportunity – gift cards can effectively be a way to get paid upfront while expanding our customer base. 📊 This approach is more than a discount; it's a strategic move to grow our clientele. By offering a significant discount on gift cards, we're essentially investing in future sales and broadening our market reach, all while maintaining a positive cash flow. See it in action: https://lnkd.in/eJhvyDfF FYI - There are only 99 left for the season...

A surprisingly effective way to build a customer base. This is about Total Wine & More. (known as America's Wine Superstore®). Some facts about Total Wine & More: ↳Revenues in excess of $6bn. ↳Largest alcohol retailer in USA. ↳Sells wine, spirits, beer, and more. ↳Also sells glassware, accessories, etc. ↳Operates 260+ superstores in 28 states. ↳Each store is 20,000 to 25,000 square feet. ↳Over 8000 wines, 3500 spirits, and 2500 beers. In 2005, Total Wine opened its first store in Tampa. Before opening, they sent out 𝗽𝗵𝘆𝘀𝗶𝗰𝗮𝗹 $50 gift cards. ↳Free $50 gift cards. ↳Via postal mail. ↳As in USPS. They sent these physical gift cards: ↳To 1000s of people. ↳And 100s of businesses. ↳In multiple zip codes in Tampa. As an introduction to the brand. Upon opening: ↳They were inundated. ↳1000s of people showed up. ↳At their newly opened store in Tampa. I also went. I used the $50 gift card. I still go to Total Wine 19 years later. I've spent 1000s of dollars at their stores. I only shop at Total Wine for adult beverages. I know other people who are equally loyal to the brand. Was the $50 gift card an effective investment? Let me know in the comments below. ♻️ Repost if you found this helpful. ----------------- PS - Follow me, Rajeev Ratra, for actionable insights about marketing, AI, and entrepreneurship.

So many restaurant owners feel like they have to resort to offering discounts to keep clients coming back. Their intentions are right, but the execution falls short. They end up in a cycle of diminishing returns. It's an unsustainable model that creates a race to the bottom. It impacts owners' margins and restricts their ability actually to make net revenue. What I've discovered is a better way to build customer loyalty. A shift from discounts to creating value. From short-term tactics to long-term strategy. From eroding your brand to elevating it. Here's what I’ve seen work: Gift Instead of Discount: --> Offer a gift card for repeat purchases instead of a discount. --> Attach a $10 gift card to orders, or use a digital card with a QR code. Loyalty Program: --> Implement a points-based loyalty program. --> Every dollar spent earns points towards free food or discounts. Value Perception: --> Focus on adding value rather than cutting costs. --> Position your restaurant as a premium choice, offering more for their money. This approach has worked for so many QSR restaurants. And shifted the customer’s perception from devaluing it to strengthening it.