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Using Average Online Order Value to Drive Your Restaurant Towards Profit

Online Order- Drive Your Restaurant Towards Profit

 

Around 2011, the market seemed to go crazy with the knowledge that third-party services could boost your customer population and you didn’t have to lift a finger, except when you had to pay these services. Eight years on from then, we have started to notice a few anomalies, while the number of customers we get from these third-party services are indeed on the rise, the profit we get from these moves seem to be continuously flatlining. We then decide to take it all on ourselves and do it all ourselves and work only on our online platforms, but we discover that after a moment of success, the customer population seem to only want the same things, and the costs for extending your reach to new customers are always on the rise. At this point, you realize your projected sales growth has failed to actualize.

The question on our minds has become: How do we grow our sales?

The answer, just like almost anything else when it comes to business, is to fold your sleeves and plan. you can start by using a metric to measure the current state of your restaurant and to monitor the progress and growth of your business. There are many metric systems you can adopt, the average order frequency used to measure the amount of favour you’ve carried from your customers, denotes the average number of orders you get from a unique group of customers over a period. Another metric is the restaurant customer lifetime value. It describes the total amount you can expect from any group of customers over the course of their lifetimes in relation to your business. It serves as a guideline to choose who your policies, menu or prices should target. Calculating this metric might be a bit of a bother, but it is every effort and is very likely to prove useful.

The metric we should consider is the average online order value. It’s a simple metric that measures the total revenue for a period against the numbers of orders gotten in that period. Some use the average online order value metric system to evaluate a sales performance. Others use it in different outlets or branches of the same company to discover the regions or communities that are more valuable to the restaurant or business. To use this metric more effectively, you should know the value of the metric only increases when your customer makes more orders than he/she customarily does. When you know this, it becomes easier to plan. for your restaurant, you can try the following moves.

Pairings the Customers Cannot Resist

For instance, when a customer orders a burger, give them a burger, but add a twist next time, mildly suggest to them that they can enjoy a customized burger, a burger with more of that special ingredient they love s much, be it extra pickles or whatever. Then, continue to suggest other pairings, like a milkshake or fries that you know they cannot resist. In doing so, you get more revenue from a single order.

Special Hampers and Packages

With this, you can get the exact idea of what increasing the average online order value, more sales with the same number of orders. Charge percentages for organized hampers or packs that are perfect for gifting. You can save this tactic for special holidays.

Discounts

You might cringe at this word, but, it’s the one way you can convince people to let loose. By giving them the idea that they are gaining so much from the purchase, you sell a bulk of goods that will yield handsomely.

Use Images, Apps and Loyalty Programs

Drag in customers with alluring pictures and descriptive texts. Investing in loyalty programs -where customers get a special treat for staying with you – will satisfy customer retention, while app-only offers will draw more customers in. It’s all in your hands.

2019-03-15T00:44:38+00:00

About the Author:

Michal Fico
I help Business Owners leverage proven, results-driven online marketing systems to generate more leads, add more clients & increase revenue. I provide marketing agency services, one-on-one consulting, group coaching, online training programs, and marketing content targeted at helping you discover how to generate more business using online sales & marketing systems. If you are struggling to use online marketing to drive sales for your business, then I want to help you. Inbox me at michalfico@goldenrestaurantmarketing.com

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