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  • Restaurant Marketing - How Much Money Should I Spend on Marketing?

  • Here's a question you should be asking. How do I determine what kind of money to spend

  • on my marketing? Well, the real question I think is what's a customer worth to you? If

  • you don't know what a customer is worth to you, you really need to nail it down. I've

  • seen plenty of studies, you know, restaurant-wide, but you should look at your average ticket

  • item. You should figure out how often you think your customers are coming back to visit

  • you, and if you changed a few things, maybe you could get them to come back a little more

  • frequently, then how frequently would that be and what would they be worth. I think you

  • should be thinking in terms of the lifetime value of the customer. Here's a very good

  • example. One of our customers owns a deli, and her average ticket for a customer is right

  • around $14, and she thinks that her customers visit her once a week, so that means that

  • her customers are worth about $700 a year. Now, I guess you could argue how long these

  • customers would be customers of hers for a lifetime, but I think it's safe to say that

  • if you're doing a really good job and people like your restaurant, and they're coming in

  • there about once a week, there's no reason that they won't come back to visit you for

  • as long as they are in the area. Well, if you figure that the average person moves about

  • every seven years, I think seven years is actually a pretty good time. So her lifetime

  • customer is worth seven times $700. That's not bad for a deli. She's approaching a $5,000

  • value for a customer. So when it comes to getting that customer

  • and hanging onto that customer and getting that customer to buy more product from you,

  • your efforts should be around about thinking in terms of that person is worth about $5,000

  • to you. They should also be thinking in terms of well, how could I make that person maybe

  • worth $10,000 to you. How could I get them to come back more, or how could I get them

  • to spend more on average with me when they're here. This is part of your strategic thinking.

  • Your strategy should be around these kinds of things. What do I need to do to get people

  • to come more often, spend more money, and get more of them in my store? You need to

  • understand who they are, what they're doing, what kind of money they're spending. Do some

  • math, really understand what they're worth to you, and then kind of back into how much

  • can I really afford to spend because I think that people shortchange themselves on this.

  • They start thinking, "Oh, I spent too much money on marketing. I've spent too much money

  • on that advertising campaign that didn't work out." It needs to be thought of in terms of

  • what is it costing me to get a customer, what is it costing me to keep a customer? What

  • is it costing me to get that customer to spend more? That's the formula for growth, and you

  • need to do it from a standpoint of what is it really worth to me, so do some math, think

  • about your customers, think about your ticket items, think about how maybe you can increase

  • those ticket items, and think about how you can increase frequently, and think about how

  • you can get more people to come into your restaurant because if you want to hit your

  • goals, you got to understand what are they worth to you, how frequent can I get them

  • to come visit me? How can I get more of them, and how can I get them to spend more money

  • with me when they're here? If you're thinking in terms of those things, you're thinking

  • in terms of growth, and it all starts with really understanding the value of your customers.

  • Hey, if you liked this video, there are over 20 more of them. All you got to do is go to

  • this website, type in www, here let me help you, www. just enter the website, go there,

  • totally free. Enjoy yourself.

  • Restaurant Marketing - How Much Money Should I Spend on Marketing?

  • Here's a question you should be asking. How do I determine what kind of money to spend

  • on my marketing? Well, the real question I think is what's a customer worth to you? If

  • you don't know what a customer is worth to you, you really need to nail it down. I've

  • seen plenty of studies, you know, restaurant-wide, but you should look at your average ticket

  • item. You should figure out how often you think your customers are coming back to visit

  • you, and if you changed a few things, maybe you could get them to come back a little more

  • frequently, then how frequently would that be and what would they be worth. I think you

  • should be thinking in terms of the lifetime value of the customer. Here's a very good

  • example. One of our customers owns a deli, and her average ticket for a customer is right

  • around $14, and she thinks that her customers visit her once a week, so that means that

  • her customers are worth about $700 a year. Now, I guess you could argue how long these

  • customers would be customers of hers for a lifetime, but I think it's safe to say that

  • if you're doing a really good job and people like your restaurant, and they're coming in

  • there about once a week, there's no reason that they won't come back to visit you for

  • as long as they are in the area. Well, if you figure that the average person moves about

  • every seven years, I think seven years is actually a pretty good time. So her lifetime

  • customer is worth seven times $700. That's not bad for a deli. She's approaching a $5,000

  • value for a customer. So when it comes to getting that customer

  • and hanging onto that customer and getting that customer to buy more product from you,

  • your efforts should be around about thinking in terms of that person is worth about $5,000

  • to you. They should also be thinking in terms of well, how could I make that person maybe

  • worth $10,000 to you. How could I get them to come back more, or how could I get them

  • to spend more on average with me when they're here. This is part of your strategic thinking.

  • Your strategy should be around these kinds of things. What do I need to do to get people

  • to come more often, spend more money, and get more of them in my store? You need to

  • understand who they are, what they're doing, what kind of money they're spending. Do some

  • math, really understand what they're worth to you, and then kind of back into how much

  • can I really afford to spend because I think that people shortchange themselves on this.

  • They start thinking, "Oh, I spent too much money on marketing. I've spent too much money

  • on that advertising campaign that didn't work out." It needs to be thought of in terms of

  • what is it costing me to get a customer, what is it costing me to keep a customer? What

  • is it costing me to get that customer to spend more? That's the formula for growth, and you

  • need to do it from a standpoint of what is it really worth to me, so do some math, think

  • about your customers, think about your ticket items, think about how maybe you can increase

  • those ticket items, and think about how you can increase frequently, and think about how

  • you can get more people to come into your restaurant because if you want to hit your

  • goals, you got to understand what are they worth to you, how frequent can I get them

  • to come visit me? How can I get more of them, and how can I get them to spend more money

  • with me when they're here? If you're thinking in terms of those things, you're thinking

  • in terms of growth, and it all starts with really understanding the value of your customers.

  • Hey, if you liked this video, there are over 20 more of them. All you got to do is go to

  • this website, type in www, here let me help you, www. just enter the website, go there,

  • totally free. Enjoy yourself.

Restaurant Marketing - How Much Money Should I Spend on Marketing?

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餐廳營銷--我應該花多少錢在營銷上? (Restaurant Marketing - How Much Money Should I Spend on Marketing)

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