How to secure a 721% Return On Investment.

How to secure a 721% Return On Investment.

Bookings and finances had fallen off a cliff as customers experimented with cheaper dining options.

Angelo’s family had owned their popular Italian restaurant for two generations. The family was exceptionally skilled at making authentic handmade pasta and organic sauces. The competition were now using cheap, factory produced ingredients and they were crushing Angelo on price.

After one alarmingly quiet weekend Angelo called an emergency family meeting. They needed a rescue plan before the business collapsed.

After heated arguments it was decided that prices would remain unchanged and among other things, an investment would be made in current guests.

Wait staff were incentivised to collect guest data. A list of names, phone numbers, emails, wedding anniversary and birthday dates soon accumulated.

Personalised invitations were sent to those having a birthday or anniversary offering two glasses of bubbles and two free desserts to help celebrate.

The result on bookings was stunning. Angelo clearly cared about significant moments in customer’s lives and he took the time to create memorable celebratory experiences.

Per $115 meal Angelo invested $14 in bubbles and desserts. That meant each new booking created a 721% return on investment!

How can your business focus on current customers to achieve returns that the banks can only dream about?

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Posted on

March 21, 2018

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