Driving revenue in today's wobbly economy often means that business owners must be masters of creative change and marketing. So as restaurant operators adapt to changing times, many are turning to digital menu boards as a way to promote their offerings.
The winds of change are enveloping the quick-serve restaurant (QSR) market faster than you can say "hold the lettuce." That's because the QSR segment has discovered just how much digital menu boards can entice customers to come in and spend money?lots of it.
Limited-service restaurants, which is comprised of QSRs and other casual dining venues, are expected to rake in more than $231 billion in 2016.
The continued conversion to digital menu boards should have solution providers taking notice of this quickly evolving market segment and pondering how they can help their customers drive revenue with these highly effective digital signage solutions.
Here are a few reasons why they are so effective:
Continuously changing menu options allow for efficiency
Digital menu boards allow restaurant operators to incorporate photos and full-motion video into their menu displays, which means that they can instantly update content in order to account for last-minute product changes and update prices for a single location or multiple locations, from anywhere in the world.
That kind of operational flexibility allows restaurant owners to react in real time to which menu offerings are popular and to those that are duds. Combining digital menu boards with point-of-sale and inventory information in order to promote high-margin dishes, run short-term specials on overstocked items and seamlessly remove items that may be out of stock equates to efficiency, which in turn equates to higher profit margins.
Running customized ads in order to promote different products means optimal rotation of inventory
Menu boards can be updated from the corporate office or the operator’s living room, ensuring that every store in the system is displaying the proper prices and promotional material.
Live data feeds allow local and corporate managers to adjust marketing messages in real time in order to affect customers’ decisions, boost sales figures and reduce waste. So if a certain menu item is doing poorly, it may not be due to the quality of item but perhaps its price.
That inventory still has to be moved in order for it to make a profit. One solution for operators is to offer that item as part of a "combo" and run specials via a digital menu board in order to entice customers to buy.
Recurring revenue with service contracts
Content creation, content scheduling and system training for local franchisees and employees? The last thing that restaurant operators have time for is creating and editing content and maintaining digital menu boards. This is where solution providers can capture additional revenue by offering service contracts as part of a turnkey digital menu solution.
Solution providers should recommend a service contract for optimal performance of your client's digital menu system. The contract should at least cover network backbone management, updates, mechanical breakdowns and back-up contingencies for system downtime?especially for large-scale, enterprise installations.
What are your customers’ expectations from a digital menu board installation?