14 Unique Ways To Increase Restaurant Revenue With An Analytics Platform

Jul 19, 2021

Online food ordering system & software for restaurants – Shopurfood

The never-ending competition remains as a business complexity in succeeding the restaurant business. But the restaurant owners have turned their focus towards the online orders.

Technological advancements paved the way to access valuable information. You can get credible information about customers, promotions, and sales. Restaurant owners can identify the business patterns, staff performance, and profitable dishes. Great insights help restaurateurs to find the areas that need improvement.

Everything you need to know about restaurant analytics. If you start to make use of analytics data helps you figure out the problem areas. You can discover efficient profitable techniques that improve revenue. Let us dive into the 14 unique ways to increase restaurant revenue.

What Is Restaurant Analytics?

Every restaurant owner looks for digestible analytic insights to support decision-making. Any parameter that is measurable can be improved easily. And that's why online ordering systems are more important. You can monitor food wastage, staff performance, and popular payment methods. Online ordering systems offer analytics information with every piece of food order.

 Now you get to know about how a restaurant runs every day. Most of the online ordering systems offer analytics reports on every transaction.

Instead of relying on the logbooks to records the served orders and popular ordered dish.  Make use of the food ordering app to schedule the workforce, framing menu, and layout design. Gathering restaurant analytics gives you precise information supporting better customer service.

What Is Restaurant Analytics?

Every restaurant owner looks for digestible analytic insights to support decision-making. Any parameter that is measurable can be improved easily. And that's why online ordering systems are more important. You can monitor food wastage, staff performance, and popular payment methods.  Online ordering systems offer analytics information with every piece of food order.

 Now you get to know about how a restaurant runs every day. Most of the online ordering systems offer analytics reports on every transaction.

Instead of relying on the logbooks to records the served orders and popular ordered dish.  Make use of the food ordering app to schedule the workforce, framing menu, and layout design. Gathering restaurant analytics gives you precise information supporting better customer service.

Most of the studies show that analytics has increased productivity by 17%. Even the product or service has improved to 12%.

With no wonder, you may know why you need restaurant analytics for your business. You take full control of customer reviews, waiting times, payment gateways, and reservations. Restaurant analytics reveal the blind spots of restaurants. It gives you the emerging trends of the restaurant. You can build your restaurant marketing to the next level.

How Are Restaurants Using Data To Improve Their Customer Service?

As a restauranteur, valuable customer insights help you in growing the restaurant business. Define your customer base by using online ordering systems. Extend your customer relationships by nurturing loyalty.

Based on the demographics, you can create separate customer profiles. Enhance the customer experience by recording the customer's food preferences, allergies, and milestones. Daily tracking of customer review reports enables you to make menu changes. It assures better customer service.

For example, you can offer free ice cream or a drink on birthday or anniversary day. In this way, you stay top on the customer's mind, and they reflect on customer feedback.

Discover The Best Day For Restaurant Sales

Restauranteurs often face an old-age question: Shall I close on Thursdays? According to my analysis, Monday is a busy day - is it the reality?

Restaurant analytics offers you a busy and low sales day. You can compare the sales of every day with other days.

In other words, you can even track down the inventory purchases and items used in the kitchen. Restaurants can place the order for a refill at the right time. No more reorder exceeding before or after the raw material limit. Suppose your Tuesday sales slumps down. You can introduce a combo offer for the tacos to fill the seats. Check out the analytics impact on the revenue for two months.

Identify The Popular Sales Category

Restaurant inventory management becomes the recent talk of the restauranteurs. Inventory is a place of raw materials spillage, wastage, and theft impacting revenue.

Restaurant analytics grasps a glimpse of the top sales food categories. You can find the combo specials or favorite drinks of the majority of customers. Compute profit margins and gross revenue with online ordering systems.

Analytics facilitates the restaurant owners to build restaurant menus. If you cannot achieve target sales, you can readjust prices. Modifying the prices enables the customers to place orders over their favorite foods.

Sales Forecast

The unstable business growth and seasonality of customer preference have turned out a recent trend. And these made sales forecast a complicated task. But a historical data analytics gains organized real-time profitability. Insights make you stay ahead in the competitive world. A precise sales forecast helps you streamline orders. The sales report of every month supports effective scheduling of the workforce.

For instance, if your sales reports show a progressive graph of 5% for July month. You must follow the same strategy and staff scheduling to achieve sales targets.

As you collect the data frequently assists in predicting the trends. Now you can frame a strategic plan for a better future. Data-driven business decisions are possible only with the proper sales forecasting.

Check Out The Most Profitable Restaurant Location

A multi-location restaurant puts a strong demand to find the best performing location. Online ordering software offers the restaurant analytics summary report of each location. Restaurant owners can track the sales at any time by specifying the date and year.

Recognize the restaurant locations that require more staff recruitment during busy hours. You can even change the working hours to increase profitability.

Restaurant analytics lets you perform micro-level processing. This enables you to compare multiple locations. Identifying the least profitable restaurant with the data analysis helps you take action.

Minimize Discounts And Bonus Offers

At times your percentage points offered to the customer may not be enough to touch your sales margin. If your restaurant celebrated 22 birthdays on a single night. No way your staff can monitor the customer or the dishes. Unless you have restaurant analytics to find out what happens inside your restaurant.

Set Up The Right Size For Staff In Every Area

Having the same number of wait staff on the busy and low sales day affects your revenue. For instance, a weekend day requires more staff in both the kitchen and serving area. Whereas on a weekday you may require half of the staff or more. Now you can eliminate the unnecessary expenses by utilizing the manpower efficiently.

Schedule The Staff Work

 The biggest expense of the restaurant goes for staff wages. Employee salaries take away around 25 to 40% of restaurant gross revenue. Therefore optimizing spending patterns improves business development.

Restaurant analytics figures out the best and worst-performing employees. Analytics information optimizes employee productivity based on the floor layout. Effective staff utilization improves the table turnover. Pick out the strengths of the restaurant employee to assign the right work to personnel. Regular and high spending customers served by high-performance servers increase sales. Assess employee productivity with customer reviews and waiting times. Now you can reward the best performing employees motivating them to work better. Offer training to the slacking employees. Performance analysis is an alarm for staff who don't perform up to the standards.

You can permit best-performing employees to change shift timings as a reward. Choose a busy working day by rewarding the employee with a star. Generally, the best employee awards improve the work efficiency serving happy customers.

Craft Smart Restaurant Menu

A restaurant menu is the heart of the restaurant business. Menu insights give a better comprehension of what items are selling or not.  So turn out your menu profitable.

Restaurant analytics offers repeat menu orders, customer reviews, feedback that pulls towards success. If you don't use restaurant analytics then finding a best-selling item will not be precise. With online ordering systems, you get to know about the best items that bring the customer to the restaurant again and again.

Does your restaurant sell more hamburgers to customers? Let us figure out how sale happens. On the other side, you can identify the low-selling items that need extra effort to increase the sale. You can also highlight the low-selling items by changing the name and description. Train your servers to promote these menu items to the customers. This could help your restaurant to sell more of a particular dish.

Restaurant owners must have an eye over the customer comments over the food. Customer comments might request an extra cup of dessert or food that tastes good. This is a sign of the customer that he likes the food. Now you can order the chef to follow the same preparation method to get the love of the customer. Menu optimization helps you manage inventory better avoiding food waste.

If a dish is not preferred by even a single customer then you need to replace the dish. Analytics assists you in organizing the menu enticing the customers. Now you select the right dish to apply discounts that increase orders.

Choose The Server To Drive More Revenue

Online ordering systems find effective servers who upsell the menu items. You can motivate the employees by conducting competition between servers. Servers who sell more items will gain more data points and reward them with bonus cash or gift card. Gamification increases employee morale and drives more profit to the restaurant. The food ordering app gives you accurate data about the staff competition results.

Want to generate extra revenue on weekends or slow sales days? Restaurant events offer you a great opportunity. Sometimes customers might request you to lease out the restaurant space. But the main thing you should focus on is how much revenue earned through leasing out. Make a note of whether the lease amount exceeds the average restaurant revenue.

Online ordering systems provide the operation times that drive smaller profit. In those times you may lease the restaurant space for larger events. For example, the average revenue of three hours on Tuesday is 800 dollars. When the customer requests for lease space for 1400 dollars. Restaurant owners must choose out the leasing out space.

Avoid Food Wastage

The food ordering app enforces your staff accountable for item usage over orders. No more occurrence of food wastage or theft, or misuse affecting restaurant revenue.

Restaurant analytics assists in fine-tuning inventory. Well, restaurant analytics track the inventory levels & avoid food wastage. Not only restaurant expenses are reduced but also increases the restaurant's efficiency and revenue.

Predicting seasonal trends is that much easier with restaurant analytics. Now the restaurant owners can plan the inventory stock in advance. You always stay ahead of your competitors as you plan in advance. With restaurant analytics, you get to know about the customer's seasonal preferences. Keeping track of trends assists you in peak sales.

Do you wish to have your customers return again and again to your restaurant? Make your customers happy by serving with a first-class dining experience. Online ordering systems influences the customer to try a casual bite. The food ordering app instantly notifies offers and promotions to the customers. The faster order processing allows your waitstaff to serve more customers.

Naturally, your table turnover assists you in reaching sales targets every month. Processing orders quickly is more preferred by the customers who dislike waiting. Thereby your restaurant offers a satisfactory service for all customers.

Improve Promotions

Digital marketing turns out a powerful tool in filling your restaurant tables. Marketing campaigns extend a hand in finding the success or loss of business. You can offer the best restaurant service if you know the customer preferences. Tailor the customer demands based on the campaign information. Tracking down the sales campaign gives you the result of campaign success that brings more business or a waste of time. In the case of time waste, the restaurant must make a change in strategy to gain more profit.

With online ordering systems, you can identify the premium guest. You can even offer a complimentary glass of wine or ice creams to make them happy. If you wish to move a long way, just note down the favorite dish of the customers. This may make them feel at home with the restaurant service.

Explore The Restaurant Analytics Reports

It is the age of too much meaningless information is always useless. Restaurant analytics with precise data is a challenge. Online ordering systems help you out to overcome the challenge.

Every restauranteur wishes to grow their business, then analytics will work for them. Restaurant analytics groups up the data points support to make a better decision.

You can move through goals to increase profits with powerful data analytics. Improve customer engagement with reduced staff salaries. Streamline restaurant operational efficiency with analytics reports.

Final Note

Online ordering systems offer sales analytics which is a priceless tool. Restaurant analytics help you understand the customer spending patterns and menu.

Restauranteurs receive an organized data reports that support the best dining experience. Interpret the analytics report and take action to implement a strategy bringing success.

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Kiruthika Blogger

Kiruthika

Kiruthika is a Content writer and blogger at Pofi Technologies. Other than her interest in writing, she can be seen listening to songs, reading or traveling.