Warum Restaurant-Marketing nicht das Problem ist

0:00I'm in the restaurant business. So, >> Restaurant business? >> Restaurant business. >> Oh, there we go. >> Uh we do about 25 plus million in revenue. Uh we're trying to get to 100. >> Amazing. How many locations? >> We have six. >> What's the What type of dining? >> Uh actually, there are five different concepts. Uh two two that are American pub fare. >> you're focused. That's good. >> Well, there was a lawsuit >> restaurants. >> Yeah. >> There was a lawsuit that got in the way of growing brand. So,

0:25>> I'm I'm following you. >> Um what's stopping us is probably to be truthful is me and my business partner which I dragged here. >> Uh who is your business partner? >> Business partner over here. Yeah. I'm more of the front-facing marketing person. He's the implementer finance guy, right? >> Heard. >> Yeah. >> thought I'd bring him, you know, to to listen to the spiel, right? So, if I'm looking at the business worksheet that we filled out from the beginning, the problem is the LTV to CAC. How do I I don't have those numbers, right?

0:52>> Yeah. >> So, in a restaurant, I have, let's say, >> Yeah. >> I have information from our What What do we say? Our I'm trying to get our >> I'll I'll just I'll >> our programs. >> Yeah. So, restaurants is such a unique business. Um the thing is is like more than anything, and this may sound ironic, it's like on the polar ends of business, you have restaurants on one side, and then on the other side you've got super high-tech.

1:21And they both converge on the same truth, which is that in the long run product is the only thing that matters. And so, at the end of the day, you can do all the marketing things you want in the world, if the food sucks, the food sucks. >> True. >> And if the exper- And also, that's obviously tailored with the experience, the service, the environment, all those other things. But if the experience overall is not noteworthy enough, then you get a lot of like, "Yeah, it was all right." And then they never come back, and then someone's like, "Oh, I guess we won't try there then." Right? It's that those tiny little cuz most people do find restaurants through word of mouth and reviews. It's like 90% those two sources. I mean, not many people are scrolling Instagram and are like, "Oh, I will respond to the buy one get one."

2:00Now, the one exception to that is when you have a grand opening, which you should have I'm sure you do have a hopefully a grand opening strategy for your locations. Um that for sure is hardcore marketing that you're doing, but the idea is that you never do grand openings until you know that the model that you have, the experience that you deliver, the food that you make when someone comes in, you know that off of the grand opening you can get that that that location to full capacity within 6 months just off of the word of mouth of basically the initial push. Which by the way is how all brick and mortar should work.

2:31With restaurants it's just more exacerbated because data collection's harder and gross margins are smaller. Right? And so, um basically if if you're like, "How do I How do I aggressively grow the business?" It's going to be mostly the food and the experience. Which is the sad and it's also amazing. >> How do I get the finance guy to spend money in marketing? >> Um

2:56>> Because if I'm looking for that number, that CAC number, I don't know how to to get that number. >> So right now, let's say let's say hypothetically you you spend $0 on marketing just for, you know, shits and giggles. So it's like, "Well, what's our marketing expense right now?" Well, it's zero. You could just reframe that question, which is like, "What do we like What do we pay in premium across our systems, our service, and our and our ingredients that increase the virality or word of mouth in the business?" That alpha, that spread is basically the marketing.

3:26You're just doing it in the form of product. Um but to get that um finance guy to open like, you need to have a grand opening playbook that needs to include what overstaff we do. I mean what overstaff we do and how much money we're going to spend on ads across all channels. And what are the kind of promotional giveaways that we're going to do in the beginning unless it's super premium, but even then the giveaways still happen. They're just different. Giveaways are still the way as like grand opening strategies. It's just going to be exclusive and invite-only and things like that, but it still works the same way.

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