Why should you care about retention?
Retention is the most powerful metric of your restaurant, but is being neglected by most. Other tools can tell you your bestsellers, or profit margins, but they can’t tell you why certain customers come back a second time.
Even a 1% increase in retention could mean capitalizing on the lifetime value of thousands of newly retained customers.
Our Offer: A Free Restaurant Retention Audit
You’ll get an easy to read, actionable report that shows you:
The retention rate of your restaurant: On average, for every 100 customers that come for a meal, how many are retained, how many never come back, and how many have retention potential (they could be retained). Small improvements to retention rate translate to a substantial difference in profitability.
Your menu, ranked by retention: Know exactly which dishes are your true winners and losers. Understand how likely it is that a customer returns after trying each item
Retention paths: A retention path is the journey a customer takes from first impression to a retained, repeat customer. In a healthy restaurant, this happens organically. We’ll identify these paths (there are usually multiple!) and patterns for you, so you can target customers who have high retention potential.
See what an increase in retention could do for your business
Fill in the below inputs about your restaurant to get an estimate on what a retention increase could do for your monthly revenue.
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FAQ
Your POS and reservation systems aren't telling you the full story. They provide information on how many times someone has come, how much they have spent, and what dishes they have ordered, but they are leaving so much opportunity on the table.
We've discovered that using data you already have, you can
- Calculate how often a customer returns based off what they order
- Know exactly how many repeat customers you have and how often do they come
- Determine why a first time customer turned into a repeat customer (Retention Paths)
- And many more insights that are backed by data, rather than intuition.
As an example, let's suppose we are auditing a restaurant that sells both breakfast sandwiches and smoothies. They have a large number of repeat customers who consistently order a breakfast sandwich every week.
We perform an audit which identifies a specific retention path: Customers who order breakfast sandwiches, if they try a smoothie that they like, start ordering the smoothie alongside their breakfast sandwich.
To capitalize on this insight, you target breakfast sandwich customers with an offer of a free or discounted smoothie, on their next visit. Frame it as a reward for their loyal business and that you want to give back!
A few weeks later, you'll observe an increase in sales because customers who order breakfast sandwiches are also ordering smoothies. You are able to increase your revenue using your existing customers, without having to make any massive changes to the business.
This is not about questioning your current efforts but enhancing them. You should be armed with insights into the health of your customer base that allow you to make your restaurant more successful, instead of stagnant.
Feast integrates with your POS and your existing restaurant software. We aren't trying to replace any of your existing solutions, rather enhance them.
Feast is an early stage restaurant tech startup. We do this for the opportunity to establish a relationship with you and get a foot in the door (hopefully) to offer you our retention system in the future!
