For restaurants and hospitality businesses, the customer experience is the next compelling factor to ensure success in their respective industries. These businesses put customer experience at the center of their strategies, with the mindset that consistently delivering on their customers’ needs and demands is both invaluable, and profitable. In fact, 84% of businesses that made efforts to improve their customer experience report an increase in their revenue. However, not all these businesses are able to step up and obtain the coveted trust and loyalty of their customers.
The restaurant and hospitality industries know the utmost importance of superior customer experience. In an industry where most of the services that you and your competitors provide are almost identical, providing superior customer experience will make your business stand out. A better customer experience leads to higher customer retention rates.
For instance, whenever guests feel that the hotel they’re staying in understands and fulfills their needs, they’re 13% more likely to stay there again. For restaurants, a positive experience encourage 60% percent of guests to become frequent customers, as per a Deloitte report.
And what better way to be at par with, or to even be ahead of your competition, than by using marketing analytics.
We’ve already discussed the importance of marketing analytics before, which you can read here.
Business owners like yourselves should be aware of customers who have developed a modern taste of what technology can offer them: the prevalent use of technology in the restaurant and hospitality businesses has also augmented their preferences. They demand personalized, seamless experiences when they engage with your business.
While this may take the focus from a product-centric towards a more customer-centric approach, the ultimate goal is for your marketing efforts to be on each stage of your customers’ journey. Marketing analytics is integral in refining the customer experience, especially when you track and engage with them in all of their touchpoints, such as your social media ads, events, surveys, etc.
Marketing Anayltics: Giving You the Edge
Examining the data offers the chance to learn what you did right and what needs more attention. Without marketing analytics, you are simply hoping that your actions will somehow make an impact. So, take the guesswork out of the equation. Track your customers’ buying behavior, keep records of your interactions, and always investigate how and where your customers’ dissatisfaction originates.
Should you want to try out Maralytics, then sign-up for a free trial, here.
Good insights have given business owners and marketers long-term views as to how their customers interact with their brand. These also consider customers’ preferences and purchase history. They can then be tied-in with funnel marketing efforts (website or social media ads or even print advertisements) if they translated to any conversions and sales. Simply put, marketing analytics favor the integration of brand marketing and performance marketing.
There are numerous methods of collecting data about your customers, so access shouldn’t be an issue. We’ve previously discussed how you can collect data using your POS. However, you must be sure that the data that you have is the correct data. You get this by consolidating all the data from the various channels that you’ve launched. This gives you a better, comprehensive picture of where you are and what you should be doing next, in terms of your marketing campaigns.
Then onwards to the biggest challenge for business owners: what to do with that data after you’ve collated and analyzed it. This is where your analytics can assist in building a singular understanding on your customers’ demands, and how your business can provide them with high-value products and services.
Businesses who realize the impact of improving their customers’ experiences are rewarded with a loyal and expanding customer base. Your customers will always expect consistency from your business, which your marketing analytics can greatly support you with. At the same time, the data that you have gathered from your previous and current marketing campaigns can also provide you with insights on how your customers’ behaviors and wants are changing. This can then enable you to launch new and out-of-the-box customer experience strategies that are tailor-fit to delight and satisfy your customers. You already have the knowledge on how to make your customers feel comfortable in your hotel and how they can enjoy your food in your restaurant. This time, with marketing analytics, it’s time to make them feel understood, special, and wanted.