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How To Get Even More Business From your 50 Best Customers
Howard Tinker • February 27, 2015
Why You Should Spend More on Your Top 50 Most Valuable Customers
Do you know your best 50 customers?
With this tip, I’m going to take it for granted that you are collecting a list, you’ve turned it into a database and you’re tracking the spend of those people coming in from that list. This is where it gets exciting, because what you can do, is go through the spend and look for your most valuable customers.
Now, your valuable customers will be the ones that ‘come in the most’ and ‘spend the most’. So lets say, that you can go through your list and pick out maybe 50 of those people, then you can decide what you want to do with them. Now, if you have a marketing budget for the year and lets say it's $5000 for the year and you're spending that $5000 on people who might or might not come in, you may be spending it on advertising that people don't necessarily see, on Facebook that get you 'likes' but it doesn't necessarily get you bums on seats.
What if you took a percentage of your marketing budget, lets say 20% of that $5000. So you take $1000 and you spend it on your restaurant’s Top 50 Most Valuable Customers. You send out special marketing pieces to them, put on nights where they get VIP invites and encouragement to bring friends along. You are going to gather more people like them by doing that, but also, you are going to make a lot more in terms of conversions, sales and profits because you are reaching out to people who already love your product and spend the most with your restaurant.Therefore, for you to make more profit make sure to gather a list, track sales, find out who your best customers are, then send out invites to get them to dine with you even more.
Take aways:
- This is a strategy to encourage your best customers to spend even more at your restaurant.
- Determine who your highest paying customers using your database.
- Allocate part of your marketing budget for you best customers - not just new business.
Want to know more about marketing your restaurant? Book in for a quick, no-obligation chat with Howard by clicking the button below.
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