Restaurants make hundreds of decisions every day: some quick and simple, some challenging and most falling somewhere in between.
While these choices may vary in complexity, the ultimate question of "What's in it for me?" or "What's my ROI?" remains a constant thread on every decision. Wisely understands the importance of ROI for any restaurant, and we are confident that Wisely will generate $10 for every $1 you invest in it.
Based on our projections, a restaurant can expect to sign up about 3,000 guests in a given year after completing our onboarding process. (For more on how we signup guests, please see our post on launching.)
There are four major ways we achieve a 10-to-1 return each year:
1. Increasing Guest Visit Frequency: Customer retention is a proven moneymaker in the restaurant world. Just a 5% increase can boost profits by anywhere between 25-95%. Repeat guests also spend roughly 33% more per check than new customers, making them a highly coveted group. At its core, Wisely is focused on motivating customers to return to their favorite restaurants by creating a personalized dining experience and automatically reengaging with those guests post-meal via our app's feedback feature. Put yourself in your guests' shoes: Would you rather go back to a place that knows you and what you like, or one that does not?
2. Custom Selling: Wisely's customer database provides both staff and managers with salient notes about their guests. This could include dietary restrictions, food preferences and previously ordered dishes/drinks. Based on access to this information, servers are able to maximize the percentage of covers that buy drinks, appetizers and desserts. Sometimes all it takes is bringing over the Reserve Wine List.
3. Issue Recovery: 1% of restaurant visits have some sort of issue—it's just the nature of the restaurant beast. However, these seemingly "bad" experiences don't necessarily have to mean losing a guest; they're an opportunity for building a more loyalty customer. Our app feedback system not only allows guests to quickly submit a review of their experience post-meal, but also notifies managers if a guest's review is poor. Losing a repeat guest is painful.
4. Guest Acquisition: Another notable feature of Wisely's program is its ability to help restaurants acquire guests that are similar to their most frequent customers. Once Wisely is implemented and begins to build a profile of your regular customers, we can automatically drive trial by more people just like them. Once a restaurant has acquired a list of at least 200 repeat guests, we can upload that list to Facebook and find other people within 1, 5, or 10 miles of the restaurant who look like those regualrs, both from demographic and behavioral perspectives. The days of "spray and pray" marketing are over, or at least they can be.
Don't forget the main takeaway: Spending $1 on Wisely means putting $10 more in your pocket. Driving high ROI for our partners is our approach to building lasting, long-term partnerships. We'd love to hear from you.
Wisely empowers restaurant groups to grow and sustain profitability by acquiring valuable new guests, converting them into regulars, and keeping them happy for life. Our software is easy-to-use and enhances productivity, so staff can focus on what really matters. For more information or media inquiries, please contact us at firstname.lastname@example.org.