8 Ways to Boost Revenue With Restaurant Analytics
These individual pieces of information may not tell you much, but in aggregate they tell an unbelievable story about your company --so what do you do with that information?
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What are Restaurant Analytics?
Restaurant analytics would be the combination of all that raw information, turned into easy-to-use insights which help you make better business decisions. Today, every bit of information--from wait period to trick distribution--could be accurately gathered, measured, and introduced to owners in a way that is clear, prompting a real time reply and forward-thinking strategies for long-term success.
Keep reading to find out about eight metrics it is possible to measure to improve traffic, revenue, and customer satisfaction using the restaurant data analytics in your POS.
1. Improve Table Turnover
So as to serve clients well, and create repeat business, you will have to move the dining experience along at your tables. A restaurant POS system can help ease ordering and even provide tabletop payment, so clients can enjoy a casual snack, leaving satisfied and likely to return for another meal down the road.
Additionally, with quicker order and payment, your waitstaff is free to accommodate more clients, further enhancing table turnover without rushing guests that wish to linger a little longer.
2. Reduce Food Loss
Your restaurant POS can let you control the stock going in and out of your kitchen, making your staff more accountable for the way they cook, send, and account for each item ordered.
It is your restaurant's stock --do not let careless staff over heap a plate, under-serve a valued client, or simply misuse the anticipated items in a manner that hurts both your reputation and the bottom line.
3. Right-size Your Staffing Needs
Wouldn't it be wonderful to know who your best and lowest performing servers are? Yes, most of us have that cocktail of gut feelings and expertise nevertheless, you need to back up your choices with data. Dive deeper and find out the specific cost of a poor server on your organization.
If you always keep the identical amount of kitchen and waitstaff through the week, but just certain nights warrant additional servers, your restaurant analytics will have the ability to demonstrate where losses occur, and where you may be able to better use their manpower.
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4. Reduce Discounts and Comps
You may think that a few percentage points of comps are not very much, but it is just the kind of thing that could shrink your margins. There's absolutely not any way there were 22 birthdays last night in the bar--track dishes and staff readily with restaurant analytics to learn what was actually going on.
5. Manage Staff Turnover
Though losing staff members is not simple, something as straightforward as optimizing a floor design, or changing which staff members manage certain table dimensions, can go a long way toward restarting entirely covered, completely efficient solutions. Despite a reduced staff, the ideal restaurant anayltics will help keep morale and productivity high.
6. Track Server Performance
Use the POS analytics on server functionality that will assist you enhance staff trainings, identify powerful servers, and program smarter.
- Discover strengths and weaknesses. Is 1 server selling 60 percent of all wine bottles? Learn their key and pair them with servers that have low bottle amounts to help them improve their earnings.
- Reduce regeneration. Turnover happens for many different reasons so that you can not stop it, but it can be lessened. Check in with your lowest-performing servers to discover how you can work together on enhancing their job satisfaction.
- Pair top servers with VIPs. When a reservation for a VIP guest comes in you can identify your top servers and make sure at least one of these is assigned and scheduled to that guest's table.
7. Improve Marketing
One of the most powerful tools for filling seats is powerful digital promotion --and when you have the ability to observe the successes and losses of campaigns or tailor them to individual tastes, making them even more powerful.
When it is a weekly Taco Tuesday particular or something more temporary, like a Mother's Day prix fixe menu, monitoring a campaign in your POS analytics will allow you to compare sales data to find out whether your efforts are bringing in more business or are only a waste of time. If it's the latter, you may then alter your strategy into something more rewarding.
And bear in mind, marketing efforts do not stop when a guest walks in the door. Use your POS analytics to pleasure VIP guests with a complimentary glass of their favourite wine or a free dessert. Simple gestures like remembering somebody's name or what dish they like most go a long way too.
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8. Create Smarter Menus
Through menu insights you can get a better grasp on what is or is not selling, and how to create your menu more rewarding.
If you did not have restaurant analytics to look back on, you'd probably think your best selling item is the most rewarding --but they might not be accurate. Through your POS data you will be able to see which items have clients coming back again and again. Do you sell a whole lot of grilled chicken sandwiches to guests only to never see them again? It's time to determine why.
On the flip side, it's possible that one of your lower-selling things may have some unlocked possible. Your restaurant analytics will be able to let you know if one of these items produces a higher-than-average percentage of return guests. Highlighting this thing on the menu, training servers to market this, or updating its title or description might help you sell more of the dish and, most of all, create more repeat traffic.
You might not have a magical 8-ball for predicting restaurant achievement, but given the number of data coming out of the restaurant POS system, there aren't many causes of unnecessary losses or expenses once the answers are right at your fingertips.
How Are Actual Restaurants Using Data Analytics?
The best of the best restaurants are using all of the analytics available for them to grow their business. This especially rings true for Locals 8 Restaurant Group, a multi-location restaurant team with Upserve's restaurant information analytics to improve profits and become more effective.
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