In the current climate running any kind of business is more challenging. But it is those that do not provide services or sell products that are seen as essential that are struggling the most. This is understandable.
According to the latest forecasts provided by the ONS, the amount of disposable income UK households have is set to fall by 4.5%. This is not great but still does not sound like a disaster. Until that is you realise that is the biggest fall in living standards, since 1956!
The net result of this change is that with less spare income to spend, people are going to cut back drastically on non-essentials Therefore, the entertainment and hospitality sector is likely to see falling demand. As people decide to eat out less and host parties at home for special occasions, restaurants are going to struggle.
This situation means that when it comes to marketing restaurants need to up their game. But they must do so in a way that is as low-cost as possible. Falling customer numbers means less profit, which translates into a need to cut overheads. Including spending far less on advertising. As a result, restaurateurs are taking a different approach and trying out new, less costly methods like the ones outlined below.
Tapping into the power of digital signage
One of the biggest growth areas is the use of hospitality digital signage– Turning a display screen into an effective marketing tool is extremely easy to do. Most restaurants already have these screens or can easily source a couple of second-hand ones. It is also possible to lease them for a low price.
With the right software, all kinds of things can be displayed on these screens. Including special offers and events. So, if a restaurant is planning to host a themed evening that includes a set menu for a set price, they can advertise this on the screens people see while eating their meal.
Offer plenty of variety and low-cost dishes
These screens can also be used as digital menus. Over time not having to have paper versions printed up saves money. As does the fact that what is on the menu is easy to change. When the chef gets offered a box of vegetables at a low cost, they can add a couple of extra dishes to the menu. It takes moments to do.
If those dishes are offered at an extremely low price point, they will sell well and please customers. The better value for money a restaurant offers the more likely it is that people will dine with them more often.
Being prepared to sell half portions for half the price will also help. It makes a family meal far more affordable. Offering doggy bags to every customer, selling off what is not sold at the end of the day for an exceptionally low price and providing a 10% discount on takeaway orders will all help too.
Make extensive use of social media marketing
Social media marketing has the potential to be incredibly powerful for local businesses, especially for restaurants. They have a lot to share, which makes it easy to keep their feeds and pages fresh and interesting. Here are a few suggestions:
Offers
New dishes
Upcoming events
Pictures of vents that have already been held
Helpful nutritional information
Information that will help customers e.g., deals other local businesses are offering. In return, ask those companies to share your offers on their social media feeds as well.
Most social media accounts are free, but a member of staff will need to spend time managing it all. The fact that you can repurpose images, video, and text for use across several platforms reduces the amount of time needed. But someone will have to read the comments, remove any that are not appropriate and respond to others. This in-depth guide explains exactly how a restaurant can get the most out of free social media marketing.
Make good use of your website
Most restaurants have a website, and they should all have a Google My Business listing and be encouraging people to leave reviews. Having all of this set up improves your chances of being found when they search for restaurants near me. Including your menu, exclusive offers, and prices in all these places help people who are on a tight budget to work out if they can afford to eat with you.
Be generous where you can
In the current climate, it is vital that you re-double your efforts to look after your customers. People need to feel welcome, valued and cared for. If you can offer a discount do so, especially for those who want to celebrate something special with you. For example, letting guests provide their own cake for a birthday party, so they do not have to find the money to pay for dessert.
