Maximise Growth: Tailored Marketing Strategies for Every Restaurant Stage

Marketing your restaurant effectively is crucial for growth, whether you’re just starting or running an established eatery. Here’s a concise guide to help you optimise your marketing efforts based on your restaurant’s life stage.

Effective marketing varies at different stages of your restaurant’s life. By aligning your strategies with these stages, you can maximise growth and efficiency. Here are key insights from Les Binet’s “Effectiveness in Context.”

Key Strategies

1. Early Stages: Drive Volume and Build Your Brand

• Volume Growth: Focus on promotional offers and social media buzz to attract new customers.
• Brand Building: Invest in creating a strong brand identity with consistent messaging and high-quality visuals.
• Efficient Advertising: Allocate a significant budget to advertising to accelerate early growth and capture market share.

2. Mature Stages: Enhance Pricing Power and Retain Customers

• Pricing Power: Shift focus to premium offerings and justify higher prices.
• Customer Retention: Implement customer experience programs and personalised marketing to keep existing customers coming back.
• Increased Budget: Adjust your budget to maintain growth despite lower advertising efficiency.

3. Scaling Up: Adjust Activation and Defend Market Share

• Initial Activation: Ramp up efforts with grand opening events and aggressive promotions.
• Normalise Activation: Sustain growth by normalising activation levels after the initial buzz.
• Defend Market Share: Enhance customer experience and stay alert to competitor strategies.

4. Budget Setting: Align with Growth Targets

• Efficiency Data: Set your Extra Share of Voice (ESOV) levels based on sector norms and unique brand characteristics.
• Growth Targets: Calculate necessary ESOV by considering base growth levels and target growth.
• Custom Adjustments: Tailor your budget to reflect your restaurant’s specific needs and opportunities.

Conclusion

By understanding your restaurant’s life stage and adapting your marketing strategies, you can effectively use your budget to achieve better growth outcomes. Stay flexible and responsive to market conditions and your restaurant’s unique needs for optimal results.