Ninety percent of surveyed restaurants report that they value repeat visits over new visits to their restaurant (Rewards Network survey). It is critical to understand what drives that repeat business.
In depth analysis on ratings and rewards uncover the true motivations for consumer dining and actions that drive them, and most restaurants would be surprised to learn that, despite what they believe, food is not the number one driver for return visits. Overall experience and rewards of choice are.
Rewards Network has released a free report detailing these two factors that influence return visits and how restaurateurs can influence customers based on these understandings.
The results of the report were compiled from researchers at Rewards Network who utilized data from 99,000 verified dinner surveys and actual dining transactional spend to analyze consumer behavior. With over 10,000 restaurant partners, who service over 13.5 million customer transactions annually, Rewards Network believes understanding consumer behavior is essential to a restaurant’s success.
For example, Rewards Network saw a 14% increase in incremental spending in active diners who were offered a bonus to incentivize additional dining experiences. When targeting a group of diners who were not active prior to a bonus, the company saw a 17% increase in spending. The conclusion is that by using data to know your customers and motivate spend, you can optimize your incentives for the greatest return on your investment.
Interested restaurant owners and restaurateurs can download the entire free PDF of the report here. Copies will also be available at the 9th annual Fast Casual Executive Summit on Tuesday, October 14, during a panel discussion led by Rewards Network Chief Marketing Officer, Kara Walsh, titled “Can You Really Influence a Customer?” at 11:00 a.m. MDT.
For more information on the Summit in Denver, CO, visit: http://www.fastcasualsummit.com/.