Lance's thoughts!

What's your marketing ROI?

Many restaurants take marketing dollars and consider it just an expense. 

They spend money and time on "doing" marketing because everyone tells them they need to.

There is no strategy, no measurement of a return on your investment.

This is how marketing gets a bad name. There is no connection with how marketing relates to sales.

At the very least, you need to measure how many NEW GUESTS are dining-in or taking-out with your restaurant due to your marketing. 

You need to know the cost of guest acquisition, home much money you need to spend to get one new guest.

Then you work from that base to increase your ROI by

  1. Decreasing the cost of guest acquisition by refining your strategy
  2. Scaling up your marketing investment to bring in more NEW GUESTS

Got 60 seconds? Check out this video.

Wednesday, January 27, 2021