3 Ways to Boost the Bottom Line for Your Bar or Nightclub
Like everyone in the hospitality industry, bar and nightclub owners count on the loyalty of their customers. Three out of four say it’s cheaper to retain a current customer than acquire a new one, and nearly half achieve better ROI by investing in relationship marketing over acquisition marketing.1 But, like everything else you need to do to run a successful business, relationship marketing takes time. With so much on your plate, you need systems in place that ensure your business runs smoothly, including a quality point of sale system.
Here are three ways you can boost your bottom line at your nightclub or bar:
- Use up-to-date technology: Consumers are accustomed to experiencing different types of technology in the restaurants, bars and nightclubs they frequent. Mobile ordering and payments, electronic jukeboxes and the like have made their way into the nightlife scene. Your business needs to keep pace with the latest point of sale technology to remain profitable. A point of sale can help grow revenue by organizing and streamlining different aspects of your business. It can improve oversight on inventory and payment processing information, and track orders and payments.
- Improve the entire experience: Ask anyone in the restaurant, bar or nightclub industry, and they’ll tell you the customer experience is everything. This includes everything from when the order is placed, to when the bill is paid. A point of sale can be used as a driver for customer service by improving the entire customer experience up to the time they leave your establishment.
- Focus on loyalty and outreach: Another benefit of using a point of sale system is that it gives you access to valuable data from back-end analytics and reporting. You can use this information to create targeted marketing offers to nurture relationships with current customers, and attract the interest of new customers.
1 Our Social Times, http://oursocialtimes.com/70-of-companies-say-its-cheaper-to-retain-a-customer-than-acquire-one/, 2013.
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