Measuring success or failure of a system that improves decision making is challenging in many respects. But, the Same Store Sales (SSS) metric can be useful, especially when applied to a long period of time, and across thousands of restaurants. SSS is caluclated as a percentage change from last year to this year, and only uses locations that are open for both years.
Measuring Marketing Strategy Efficiency
How do you assure that your marketing initiatives are headed in the right direction? What are some strategies that help improve your restaurant business? Perhaps you offer coupons or special promotions to a select group or target audience. Maybe you create a social media campaign or an email blast with offers. And once you implement initiatives, how do you measure their success to assure increased profitability? Perhaps you generate reports afterward to look at the success rate. Are you getting positive results that show growth and a solid ROI?
Topics: Restaurant Marketing
Successful restaurateurs need to have extensive KPIs and they must be able to quantify everything. Data scrutiny and analysis is an ongoing process. Restaurant CEO's need to have their restaurant information distributed and analyzed by different personnel that will empower their businesses to increase revenue and improve customer service. However, operators can be misled by information received solely from their POS systems (sales, reservations) or BOH systems (inventory, food costing, labor scheduling). They need to be able to get a look at the bigger picture.