When it comes to expanding your revenue streams, it’s essential to tap into your existing customer base. By setting a goal of increasing revenue by 10%, you can generate an extra £100k based on a customer revenue count of £1 million. Now, you might be wondering, is it really that simple? Well, it’s not without its challenges. However, with the right approach, you can swiftly implement the necessary strategies to maximise order values and streamline operations by leveraging technology to your advantage.
Technology plays an indispensable role in enhancing both in-person and self-service experiences. Its impact is profound, empowering us to elevate our interactions’ quality, efficiency, and convenience. One effective way to significantly enhance customer satisfaction is by integrating QR code ordering systems and self-service kiosks. However, it is crucial to remember that each business is unique, meaning that what may work splendidly for one restaurant may only be suitable for a select few. It is essential to avoid assuming that all electronic point of sale (EPOS) systems or self-service kiosks are created precisely equal. It’s worth noting that different providers often leverage third-party solutions, resulting in a one-size-fits-all approach that falls short of expectations due to inherent differences among various businesses. By considering these nuances, you can make well-informed decisions catering to your needs and objectives.
So, how exactly can you generate additional income?
The first step is to thoroughly understand your business needs, target customers, and their preferences. With this knowledge, you can identify opportunities to serve more customers and increase sales from your existing patrons. Let’s take the example of a bustling coffeehouse where customers hesitate to wait in long queues and often leave without ordering.
To address this challenge, consider the feasibility of implementing a self-service mechanism consisting of the kiosk, QR code ordering, Website ordering or even a Mobile App that enhances customer service and caters to those who dislike waiting. Additionally, strategically choosing the kiosk’s location inside and outside your establishment can help streamline order-taking and payments without causing congestion within your store.
Another technique to increase order value is by allowing customers to pre-order. You can implement convenient QR code ordering, mobile app ordering or create a user-friendly website where customers can easily place and pick up their orders at a convenient time.
Concerning in-person ordering, it can be made simpler using a point-of-sale solution or even a Mobile Point of Sale (MPOS), allowing your staff to take orders virtually anywhere. This is a remarkable technical solution for large queues, and a staff member can just walk around processing the orders.
Now, let’s focus on another aspect – serving customers faster. Kitchen display screens with segmentation can be a game-changer, directing orders to corresponding stations like the coffee or sandwich stations.
By incorporating these strategies, your restaurant has the potential to enjoy an additional 10-30% increase in revenue without incurring significant costs. Plus, you’ll be able to serve more customers efficiently with your existing team, making it a win-win situation.
Remember, the key to success is recognising and seizing opportunities within your business context. With persistence and the right approach, you can achieve your revenue and cost reduction goals while delivering exceptional customer experiences.