• Restaurant Marketing
  • WiFi Analytics
  • WiFi Marketing

How Restaurant Analytics can Grow Your Business in 2021

by: Allen Graves On: February 25, 2020
4 min read

A robust and reliable analytics platform is central to the success of your business in 2021. Restaurant marketing analytics will help you generate more customers, increase sales, gain insights into customer behavior and preferences, create detailed customer profiles, measure return on investment (ROI) and maximize those valuable marketing dollars.

Surprisingly, though, most businesses are still in the dark when it comes to using marketing analytics for business growth purposes and measuring ROI. For example, a CMO Council survey of senior marketing executives found that “more than 80% of respondents were dissatisfied with their ability to measure marketing ROI,” as reported by the Harvard Business Review.

Brick-and-mortar businesses, like restaurants, have been at even more of a disadvantage because customer data collection has been difficult to collect and very expensive.

Until now.

What Are Restaurant Marketing Analytics?

Every business is different, which means marketing analytics will mean something slightly different to each of them. That said, WordStream provides a rather useful definition:

“Marketing analytics is the practice of measuring, managing and analyzing marketing performance to maximize its effectiveness and optimize return on investment (ROI). Understanding marketing analytics allows marketers to be more efficient at their jobs and minimize wasted web marketing dollars.”

According to a recent MarketsandMarkets™ market research report, the WiFi analytics market size is expected to grow from USD 5.3 billion in 2019 to USD 16.8 billion by 2024, at a compound annual growth rate of 26.0% during the forecast period.

Like everything else in marketing, best practices for effectively leveraging restaurant marketing analytics is changing, in part because of new technologies and new data sources that continue to flood the market.

Restaurant Analytics Trends for 2021

Innovative marketers are experimenting with multiple new approaches, but 4 trends are most likely to be dominant in 2021.

  1. Getting into the Weeds with New Data Sources

Until recently, marketing decisions were primarily informed by an analytics approach which relied on large, centralized data warehouses. Increasingly, marketers are turning to so-called “mini” data warehouses to augment and enhance their understanding of customer behavior.

That means effectively juggling and integrating data from traditional sources, as well as these new ones, including everything from Google Analytics to CRM tools, email service providers, social media sites (especially Facebook, Twitter and Instagram), SEO platforms, chat applications and WiFi marketing solutions.

It also means that restaurant marketers, in addition to analyzing data, must find those new sources which are most useful to their businesses. Doing so will help them make more informed decisions, enhance customer experience, push customer interest and drive down costs.

In terms of restaurant marketing data and ROI measurement, a WiFi analytics solution is possibly the best solution.

  1. The Rise of WiFi Restaurant Marketing Analytics

A principal reason for the success of ecommerce businesses is their ability to collect data about their online shoppers. Brick-and-mortar stores, lacking this capability, have found it very difficult to effectively compete. However, with the rise of WiFi analytics, this is no longer the case.

Simply explained, most consumers carry some sort of WiFi-enabled device, like a smartphone. These devices send out signals as they attempt to discover wireless networks in the surrounding area. Using WiFi sensors, brick-and-mortar stores can use those signals to gain valuable data insights about in-store customers, such as how long they stayed there, what time they visited, and whether they are a first-time or repeat customer.

Collected data can then be organized to better understand customer behavior, and to make operations and marketing decisions which best accommodate that behavior. WiFi marketing and analytics platforms essentially level the playing field, allowing brick-and-mortar locations to more easily and accurately measure marketing ROI, and to more effectively compete with online stores.

  1. Letting Artificial Intelligence (AI) Do the Heavy Lifting

The speed with which data enters businesses is accelerating, making it increasingly difficult for human beings to effectively process it. For this reason, more businesses are utilizing analytics programs which include an artificial intelligence (AI) capability.

When effectively leveraged, these new systems rapidly identify customer data patterns and trends to provide guidance on best approaches to performance optimization. With behavior data captured from a WiFi analytics platform, things like customer lifetime value and customer churn rate can be identified.

You have the ability to automatically reach out to customers who are at risk of not returning and engage them to get them back through your doors.

  1. Translating Complex Analytics Concepts into Simple Language

In the past, analysts were expected to crunch numbers and generate reports, but little more. The problem has been that decision makers, often lacking experience in some of the more obscure concepts which inform analyses, haven’t sufficiently understood what those reports were telling them.

Increasingly, analysts will need to provide context and meaning so decision makers can effectively use the insights they provide. That means, among other things, cleaning and polishing data, rendering results in easy-to-understand graphs and charts, and translating results into narratives that key decision makers can use to more effectively do their jobs.

This is something that Bloom intelligence can do for you, at pennies-on-the-dollar compared to traditional methods.

As new technologies and data sources emerge, restaurant marketing continues to evolve, as do the tools marketers use to measure the effectiveness of their activities. Forward-leaning businesses understand the need to keep pace with these changes to succeed in an increasingly competitive business environment.

And a WiFi analytics platforms like Bloom Intelligence can help them succeed.

 

Restaurant Marketing FAQs

What is Restaurant Marketing?

Restaurant marketing is the process of getting people to visit your restaurants. Restaurant marketing creates loyalty, provides data to research, analytics, and allows restaurants to gain a better understanding of their ideal customer profile. It utilizes all customer channels: guest WiFi, website, social, rating sites, mobile apps, email, text, and advertising.

Learn More About Restaurant Marketing Here

What is WiFi Marketing?

WiFi marketing is a marketing technique that uses guest WiFi to collect & clean customer data such as names, emails, phone numbers, customer behavior, and demographics. This data is used to personalize marketing campaigns to increase customer loyalty, build online reviews, and save at-risk customers. The performance of every campaign can be tracked down to the tangible ROI of a customer walking back in your door.

Learn More About WiFi Marketing Here

What is Restaurant Reputation Management?

Restaurant reputation management is the process for restaurants to manage customer feedback and creating systems to improve customer experiences, passively build positive online reviews, and save at-risk customers. It is a very important aspect of running a successful restaurant business.

Learn More About Restaurant Reputation Management Here

How Does Bloom Identify and Bring Back Lost Customers?

Bloom Intelligence uses machine learning to identify at-risk customers. When one is recognized, the system will send them a message with an incentive to get them to return and re-establish their visit pattern. Bloom users are seeing up to 37% of churning customers return.

Learn More About Saving At-Risk Customers Here

SAVE TIME, INCREASE CUSTOMER LIFETIME VALUES, CREATE NEW CUSTOMERS

What our happy customers
are saying

Austin Eggleston
Bob Cross, Vice President of Operations
Ron Murray
Matt Thompson, Managing Partner
Jacqueline Martin

“I highly recommend restaurants, dental/medical offices, and other businesses look into Bloom Intelligence as 1) their marketing technology is very powerful and 2) their team is AWESOME. As a marketing agency, Bloom has helped several of our clients grow their businesses via building their database and re-targeting them at the right time. Thanks Again!”

Austin Eggleston

“We’re extremely pleased with the wealth of customer data that we’re able to gather, at a very attractive price.  In addition, we’re able to communicate our new product promotions by using  the landing page as a digital billboard.  A “no-brainer” for anyone working with limited Marketing $$.”

Bob Cross, Vice President of Operations

Atlanta Bread Company

“This is an integral part of our local store marketing program. We use the e-mails we collect to tell our existing customers about various promotions, specials and discounts, and the analytics tools are amazing at capturing and displaying smart device activity in and around our store.”

Ron Murray

Atlanta Bread Company

“They have always been attentive through whatever needs and questions we have.

They go above and beyond to make sure our team and customers stay connected while helping us with our marketing efforts.”

Matt Thompson, Managing Partner

Madison Social

“I am currently working with Bloom Intelligence with Matt Ronay and Edward Kennedy. They are great to work with, respond quickly, and provide great support for noth my company and my clients. I have used other WiFi platforms but never received this level of service. I was looking for a service that would make it easy for me to sell WiFi lead generation and analytics to my clients without a lot of problems. They have provided this above and beyond. I highly recommend them to any agency looking to add this type of program to your services.”

Jacqueline Martin

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