Local

RESTAURANTS NO LONGER LEAVE PRICE ON THE TABLE

Restaurant blog imageWhen you think of variable pricing for revenue management, you tend to think of the travel industry. After all, airlines invented yield management  and hotels soon followed. But along the way came a lot of customer frustration and confusion.

Restaurants, on the other hand, have been at dynamic pricing for even longer and don’t get such a bad rap. Cutesy names like Happy Hour and Early Bird Special take the bite out of revenue management.

Despite the long history, restaurants are only beginning to tap into the power of revenue management. Continue reading

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Categories: Analytics, Local, Promotions | Tags: , , , , , | 4 Comments

WHY LOCAL REWARDS ARE SO DOGGONE REWARDING

Digital loyalty programs are poised to jump from the pioneers to the masses of local restaurants, cafes, bars, salons and more that rely on repeat business. Companies like LevelUp, LocalBonus, Five Stars, Swipely, RewardMe, Square and others are rapidly expanding to new cities. Peter Krasilovsky, vice president at BIA/Kelsey, told Bloomberg over $155 million in VC money has been invested in digital loyalty-card companies.

What are the benefits of e-loyalty programs for local businesses and why is this sector likely to surpass daily deals? The three accelerants are cost, performance and insights.

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Categories: Analytics, Local, Loyalty, Mobile, Promotions | Tags: , , , , | 4 Comments

COULD GOOGLE ‘PAID INCLUSION’ AID LOCAL BIZ?

After a decade, Google Product Search is transitioning from a free organic search tool into a paid inclusion service called Google Shopping. This new pay-for-placement has generated its share of detractors:

Google is compromising its objectiveness by moving towards a pay-for-placement service. This change has the potential to hurt small retailers if they cannot afford to pay for placement.

–Max Goldberg, The Radical Clarity Group (courtesy RetailWire)

What burns me the most is without us, Google would have no business. They use our content to make money as they have no original content to contribute. And now they want to charge us a fee. Do no evil my arse.

–“Marshall,” webmasterworld.com

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Categories: Local, Online, Promotions, Uncategorized | Tags: , , | 2 Comments

COUPONS: 6 REASONS TO LOSE THEM, 6 TO USE THEM

Local businesses, like national businesses, have a bipolar relationship with coupons. They love them for bringing new business, and hate them for bringing bad business. Coupons and similar discounts don’t always pay out. But planned thoughtfully, they can indeed drive higher sales and profits.

How do you know the right thing to do? Here are principles…a half dozen reasons to fold ’em and a half dozen to hold ’em. Let’s use a prototypical small business, say, a restaurant. Special thanks to Bob Phibbs, the Retail Doctor, for help with the first list:

A half dozen reasons to ditch coupons: if you have these symptoms, discontinue use

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Categories: In-store, Local, Promotions, Uncategorized | Tags: , , | 4 Comments

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