What does the Restaurant and Real Estate business have in common?
Answer: Location matters. A lot.
Location isn’t a substitute for crappy food, but let’s face it, you can have the best food in the city and if nobody can find you, you’re SOL.
Restaurant advertising has relied on direct mail for years to precisely target nearby households that would likely consider eating there.
Between printing, postage, and sorting direct mail is EXPENSIVE and time consuming!
Plus, what good is that postcard sitting in somebody’s home when they’re out and about.
Direct mail is typically only reaching people who LIVE near your restaurant. What about the people who work and shop nearby?
Then came various social media sites that are still an important piece of the mix. However, they usually rely on somebody first typing in your restaurant name to read your reviews. And hopefully you have many more outstanding reviews than poor ones.
What many restaurants are leveraging now is the power and efficiency of mobile for effective restaurant advertising.
Did you that you have a GPS device sitting near you right now as you read this article? You might even be reading this on that GPS device.
Yes, of course it’s your phone. Technically, it’s the apps on your phone that are transmitting your exact location using latitude and longitude coordinates.
While it’s true some people turn off their phone’s location services, most don’t. And many think they did, but never stopped to think how their weather app updates the weather wherever go.
The majority of people leave at least some of their location services on because these services create the magic we’ve come to expect from our hand-held super computers.
Your restaurant advertising program can use this data to serve ads only to people who enter a customized target zone.
You can literally draw a map of where you want to reach people with your ads, down to inches on a street map.
Whenever anybody enters this zone with their mobile phone, tablet or desktop, they will start seeing your ads wherever they go online.
Sounds great – but how do you know it’s working?
Because you’ll start seeing new faces come to your restaurant. Those new diners will tell their friends about your great food, and so on.
You’ll start seeing more revenue for the business.
Want another way to confirm the advertising is working through analytics?
Just like you’ll set up a geo-fence (map) around the area in which you’re trying to reach new diners, you can geo-fence your own restaurant(s). We’ll call this fence your “conversion zone.”
With a conversion zone set up, you can now track your diners who saw your ads and then visited your restaurant.
This allows you to report on metrics like “Total Visit Rate,” and “Cost Per Acquisition.”
Total Visit Rate is the number of folks who saw your ad and visited the restaurant, divided by the number of times the ad was served, recorded as a percentage.
Cost Per Acquisition (CPA) measures how much it cost the business to get that diner to walk in the door.
The math works like this:
- Pete’s Pizza spends $100 on restaurant advertising and gets a 100 diners into his locations. His CPA is $1.
One restaurant advertising program we did for a regional chain had a client goal of $20 CPA. We were able to deliver a CPA of $4.95 in just the first two months! That’s how efficient targeted display can be for restaurants.
When you consider the lifetime value of a new diner for your restaurant, most would happily pay at least $20 for one.
In conclusion, restaurant owners have known for years that location-based advertising works. What many are moving toward now is leveraging today’s technology to reach people who not only live nearby, but also work and shop near their restaurants.
Why Buy Targeted Display Through Us?
When you buy targeted display with us, we’ll have our team of talented designers skilled at designing ads for this specific program go to work. We’ll even design multiple versions of your ad and see which ones work better than others, then auto-magically shift your ad impressions to the better performing ads, rinse and repeat.
We can work with most budgets, large and small, so contact us today for a free consultation of your business needs.