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Irvine, California, United States
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Harshit Singh
EazyDiner , a leading Indian online reservation platform, leverages a multi-faceted business model for success. While reservations generate commission revenue, EazyDiner expands its offerings with: Premium Subscriptions: "Prime" memberships unlock exclusive discounts upto 50% for diners, creating an additional revenue stream. Restaurant CRM Software: EazyDiner offers table management software to restaurants, fostering valuable partnerships. This diversified approach is reflected in EazyDiner's strong financial performance (FY 2023): •Net Worth: +11.26% •EBITDA: +545.02% •Total Assets: +92.55% (credits: Tofler.in ) EazyDiner's strategic model caters to both diners and restaurants, fostering a thriving online dining ecosystem. #startups #onlinedining
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Hemant Mohapatra
**Founders & GTM leaders ** -- only 2 days left to sign up for Lightspeed India'a #MastersOfSaaS session with the creator of MEDDIC - John McMahon known widely as the BEST salesperson in the world. John is a board member at companies such as Snowflake MongoDB ThoughtSpot and more! This will be an online session on JUN25th 8-9PM IST / 730AM PST. Please RSVP early to reserve your spot: https://shorturl.at/ZPLxH We'll discuss: - common mistakes in setting up sales teams - learnings from being a CRO at multiple 100M+ ARR businesses - how to hire A+ talent, every. single. time. - and much more!
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Raj Rupesh Bharadwaj
Prioritizing Customer Loyalty in Restaurants Through Technology In this competitive #restaurantindustry, building and maintaining customer loyalty is more crucial than ever. With the advent of advanced technology, restaurants have unprecedented opportunities to enhance the customer experience, fostering loyalty that keeps diners coming back. Here’s how: 1. Personalized Experiences with Data Analytics Utilize customer data to offer personalized recommendations and special offers. This makes customers feel valued and appreciated, as they receive tailored dining experiences that cater to their preferences. 2. Seamless Mobile Ordering and Payment Solutions: Implement mobile apps for easy ordering and payment processes. This reduces wait times and enhances convenience, improving overall customer satisfaction. Integrated loyalty programs within these apps can reward repeat visits with points and exclusive discounts. 3. Efficient Reservation Systems: Provide online reservation systems with real-time availability and instant confirmations. These systems should allow for special requests to ensure a smooth and pleasant dining experience, encouraging customers to return. 4. Engaging Loyalty Programs Digital loyalty programs are a powerful tool to incentivize repeat business. By offering rewards such as discounts, free items, or special access to events, restaurants can build a loyal customer base. Mobile apps can track points and rewards, making it easy for customers to stay engaged and motivated to return. 5. Interactive Social Media and Online Presence Maintaining an active and engaging online presence on social media platforms helps restaurants connect with their audience. Sharing behind-the-scenes content, hosting interactive polls, and responding to customer feedback can create a community around your brand. Additionally, promoting special events and exclusive offers on social media can drive both new and repeat business. 6. Feedback and Improvement Mechanisms Encouraging and acting on customer feedback shows that you value their opinions and are committed to continuous improvement. Digital surveys and feedback forms can be easily distributed via email or mobile apps. Analyzing this feedback and making necessary adjustments not only improves the dining experience but also shows customers that their input is valued, fostering loyalty. By leveraging these technological advancements, restaurants can significantly enhance the customer experience, building loyalty and ensuring long-term success. In a world where dining options are abundant, it’s the personalized, efficient, and engaging experiences that keep customers coming back. #CustomerLoyalty #RestaurantTech #CustomerExperience #FoodService #HospitalityInnovation #RestaurantMarketing #DigitalTransformation
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Benjamin Claeys
The potential for restaurant owners to grow is sitting right at your customers’ doorsteps. According to Statista Market Insights, consumer demand for food delivery services is surging, and it is projected to hit a remarkable $1.22 trillion by 2024. This is due to their ability to address the demands of modern lifestyles, offering consumers unmatched convenience, user-friendliness, and a buffet of food choices accessible just a tap away on smart devices. In fact, the food delivery industry is anticipated to grow at a robust compound annual growth rate (CAGR) of 10.06% between 2024 and 2028, indicating an increase in the market’s monumental volume by $1.79 trillion by 2028. This marks a staggering 50% increase in just FOUR years. Ordering has become quite the norm these days—and I bet some of you have been acquainted with Uber Eats and Just Eat Takeaway.com delivery drivers. Well, who wants to cook after a long day when you can get restaurant-quality food delivered in under an hour? Both these companies are celebrating a remarkable rise in revenue, reaching $12.1 billion and €324 million in 2023, respectively. With these figures, the future of the food delivery market is ripe with opportunities that entrepreneurs should take advantage of. Here is where Menu Tiger - Digital Menu QR Code for Restaurants software enters the scene, seamlessly integrating with delivery services to create a winning formula. MENU TIGER offers numerous benefits, including: • Create customizable menu • Ensure a customer-centric digital menu • Make QR code menus for better accessibility • Seamlessly manage orders • Easily update omnichannel ordering systems It’s clear that these technologies are a match made in heaven. Delivery platforms give customers what they want: convenience. And QR codes provide restaurants with a modern way to keep up, making the whole process efficient for everyone. It’s time to get the numbers rolling! Dive into MENU TIGER now and create up to 7 menu categories for free! https://lnkd.in/gaKcbCxf
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Tony Smith
I love fast food. Here's an interesting new poll showing how different people like to order from quick serve restaurants these days. - 23% prefer traditional drive-thrus - 21% prefer ordering and paying ahead through their mobile device - 21% prefer ordering inside with a customer representative - 12% prefer to order and pay in the drive-thru with a line buster (the person taking orders on a tablet) - 7% prefer a drive-thru with a self-service kiosk Definite opportunities here for restaurants to seek to understand their customers and cater to their varied wants to build better loyalty. #RestaurantTech #RestaurantTrends #QSR
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Poyraz Ozkan
Quick service restaurants (QSRs) like Chick-fil-A Restaurants and Domino's 🍗🍕 have made significant strides in their digital transformation, launching their own apps 📱 to not only recapture profits 💰 shared with online food delivery giants like DoorDash and Uber Eats 🚗 but also to take the lead in managing the customer experience 🌟. Our recent analysis 📊 of 27 quick service restaurants and the largest online food delivery companies indicates that, while QSRs lead the pack 🥇 in quick service and serve as role models, user sentiments for app experience are twice as positive for online food delivery companies 📦. Interestingly, QSRs, on average, have 1.35 times higher positive sentiment reviews for service quality compared to delivery companies 🚚. I wonder which of these aspects will play a more important role in attracting new orders 🛒 or increasing order frequency per restaurant? 🤔
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Matt Smolin
Why are opt-in rates in QSR loyalty programs so low? When you look at any major loyalty platforms’ case studies, they always show the percent increase they’ve grown in the percent of orders going through loyalty, but never the absolute value. A program should enable a customer to easily opt-in via: - In-store POS – either at the POS by the cashier, at a kiosk, or a QR code/NFC tag - App or website - Online ordering With today’s technology, it seems straightforward and obvious, yet so many programs out there today do not check all of these boxes. If your loyalty provider isn’t covering its bases and increasing opt-in rates, it’s time to rethink your solution. https://lnkd.in/eNm_6VNS
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Matt Smolin
When discussing loyalty programs with restaurant marketing executives, a common issue is increasing in-store opt-in rates – getting more customers to sign up for the program while they are in the restaurant. How can they solve this? The key is to simplify the enrollment process. Customers should be able to sign up in the most frictionless way possible. Ideally, all they should need to provide is their phone number, without the need for a password or other unnecessary information. Additionally, it's important to offer multiple methods for customers to sign up, like: - Entering their phone number at checkout - Scanning a QR code in the store - Clicking a referral link from a friend - Clicking a link distributed via social media or other digital communication channels Once a customer has signed up by providing their phone number, you can then create incentive structures to collect additional valuable information, such as their birthday, email address, or social media handles. This data benefits both the business and the customer – for the business, it allows for tracking more actions and integrates all customer data into one place. For the customer, it means receiving more personalized experiences tailored to their tastes and preferences.
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Chris Webb
I've had the privilege of learning from Stephen Tafaro over the past few years. His new book, "Winning at SaaS," encapsulates the successful strategies he has shared with numerous SaaS businesses. If you work in a customer-facing role within a SaaS company or invest in SaaS businesses, I highly recommend checking it out! "Winning at SaaS: The CEO and CRO Sales Playbook for Early SaaS Success" is now available on Amazon: https://amzn.eu/d/0ix2AF7k
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Jonathan Lehr
Building an enterprise sales motion is no easy feat and as an enterprise founder you have to choose…do you want your pain now or later? While there are many possible GTM paths, one thing is for sure -- there's going to be a painful period when you inevitably kick off enterprise sales & it's important to know what you're signing up for. PAIN NOW = Enterprise sales from day 1 Taking this path can be challenging: 1. You're actively trying to validate PMF 2. The least number of VCs will understand bc it requires a thesis on your category to appreciate what you're building & what your progress means 3. Doing discovery with enterprise customers is challenging & often requires a hands-on partner (investor, GTM advisor, etc) to navigate if you’re coming from a non-sales background 4. Longer sales cycles makes it hard to rack up wins 5. It requires a strong sense of what to build for the masses so that a prospect doesn't derail your entire roadmap Scary, right? So why go for it in your early days? The reason is because if you nail it, you can scale it. Landing enterprise customers in your earliest days gives you proof points that you're building something meaningful. While early fundraising may be tougher, your biggest challenges later on will revolve around how fast / big you can grow the company, sales repeatability, marketing, etc. & VCs will flock to fund you given all the supporting data you’ll have. PAIN LATER = PLG day 1 + layer enterprise sales on later This is the most popular approach as founders think it's the easiest and quickest way to get a positive feedback loop of usage going. So what’s the catch? VCs and founders tend to get overly excited by early traction, leading these companies to get overfunded and overvalued. This then causes founders to fall into the trap of over-hiring to keep the machine humming. However, at this point GTM efficiency metrics aren't fully thought out yet & it's a huge possibility that a market turn or increase in competition could cause customers to become less sticky and churn. And when you do eventually need to layer on enterprise sales… - Do you have a keen sense of enterprise use cases for your product? - Will you build the right product capabilities for enterprise needs? - Will your startup's DNA reject the enterprise GTM motion, or will it retrain itself for long term growth? - Given your startup has likely become less agile with fully built out teams, do you have the stomach to do RIFs, rebuild your exec team, & forego product development in the lower end of the market? In both instances, it's possible to build massive and successful companies. It's just important to realize the pros and potential pitfalls of both approaches & do your best to mitigate them. This is something we at Work-Bench are constantly navigating with our founders as they march towards bigger & better enterprise adoption – so make sure to surround yourself with the right investor and/or advisors to nail your GTM!
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Keith Cline
Episode 341 of The VentureFizz Podcast features Somak Chattopadhyay, Managing Partner at Armory Square Ventures. Yes, markets like the Bay Area, NYC, and Boston get a lot of attention when it comes to building startups and having the ability to raise capital, but there are lots of other places to build a successful company. This has always been the case, but the pandemic definitely pushed this reality further. This is why a firm like Amory Square Ventures exists. There are lots of secondary markets where entrepreneurs need access to capital and it is also a very important matter for the local economy for these companies to grow and create jobs, versus relocating. Somak shares the details of what led him down the path to start Armory Square Ventures, a seed and early stage venture fund, and why their approach of investing in seconday markets has not only been a differentiator for their firm but what they also consider as an optimism engine and a community catalyst for regions outside Silicon Valley. In this episode of our podcast, we cover: * Advice on how founders can push back on advice from investors. * Somak’s background story and his early career in startups. * How he landed in venture capital at Edison Ventures and Tribeca Venture Partners. * The details on what they are targeting for investments and portfolio company examples like Machinery Partner and ACV Auctions, a Buffalo company that went public. * Somak’s anti-portfolio, companies that he reviewed and an investment didn’t work out and went on to be a successful company. * Advice on building a marketplace. * And so much more. #venturecapital #startups #marketplaces
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Anand Karthik T.
Olo’s tagline should be “It just works” That’s what we consistently hear from our customers, especially the ones that have massive scale processing millions of orders from 10s of digital channels. And that’s why I draw a lot of inspiration from Olo in building a brand customers can trust. Over the past 2 years, we have heard our shared customers ask if we worked with Olo to reconcile, manage store uptime and to connect Olo with their data warehouse. We have now delivered on this critical pain point through our partnership. Brands can now simply add a powerful analytics suite, operational alerts & notifications and AI powered reconciliation workflows to their Olo deployment through Loop AI - Delivery Intelligence Platform Learn more about what this means for your brand Food On Demand booth #726
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14 Comments -
Tony Smith
With full-service restaurants experiencing an 8% drop in visits and QSRs, groceries, and convenience stores all experiencing an increase, it’s clear that the consumer perceives a difference in value between the categories. It’s imperative that restaurants take measures to align their value proposition with customer expectations. Whether through supply-chain optimizations that lead to price reductions or enhanced staff training that improves guest experience, restaurants should monitor consumer responses. Great share from Abbey. #Restaurant #CX #BusinessStrategy
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Bruce Belvin
At OneDataSource, we are working diligently to build strategic partnerships with a small group of top-tier companies that serve the QSR vertical, and Upside emerged as a standout partner. Upside is successful at driving new customers and sales to restaurant franchises. What sets Upside apart is the reach of its marketplace and the effectiveness of its personalized promotions in motivating customers to change their behavior. Upside has developed a best-in-class measurement methodology that proves the impact of the program for franchisees and ensures merchants only pay for proven incremental profit. Upside already works with many franchises for the largest QSR brands, including Pizza Hut, Domino’s, Marco’s Pizza, Taco Bell, and Popeye’s. 𝙒𝙞𝙩𝙝 𝙤𝙪𝙧 𝙣𝙚𝙬 𝙥𝙖𝙧𝙩𝙣𝙚𝙧𝙨𝙝𝙞𝙥, 𝙐𝙥𝙨𝙞𝙙𝙚 𝙘𝙖𝙣 𝙡𝙚𝙫𝙚𝙧𝙖𝙜𝙚 𝙊𝙣𝙚𝘿𝙖𝙩𝙖𝙎𝙤𝙪𝙧𝙘𝙚’𝙨 𝙙𝙖𝙩𝙖 𝙩𝙤 𝙥𝙤𝙬𝙚𝙧 𝙞𝙩𝙨 𝙞𝙣𝙩𝙚𝙡𝙡𝙞𝙜𝙚𝙣𝙩 𝙤𝙛𝙛𝙚𝙧 𝙜𝙚𝙣𝙚𝙧𝙖𝙩𝙞𝙤𝙣, 𝙢𝙖𝙠𝙞𝙣𝙜 𝙚𝙖𝙘𝙝 𝙥𝙧𝙤𝙢𝙤𝙩𝙞𝙤𝙣 𝙚𝙫𝙚𝙣 𝙢𝙤𝙧𝙚 𝙞𝙢𝙥𝙖𝙘𝙩𝙛𝙪𝙡 𝙖𝙣𝙙 𝙚𝙣𝙨𝙪𝙧𝙞𝙣𝙜 𝙜𝙧𝙚𝙖𝙩𝙚𝙧 𝙥𝙧𝙤𝙛𝙞𝙩𝙖𝙗𝙞𝙡𝙞𝙩𝙮. Interested in learning more about Upside, send me a message directly here or email sales@onedatasource.com. You can read the release at the link in the comments.
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Asher Mathew
We've officially crossed 900 CPOs in the market! I understand that it is a difficult market out there. What these numbers show is that companies are investing in the right leaders, business people looking to solve business problems through partnerships. Last year at Catalyst, Amit Sinha and I committed to supporting more CPOs. Glad to see more leaders elevated to the C-Suite.
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Jose Albis
In the episode with Jamie, we delved into, at least, two crucial areas impacting the restaurant industry: 1. The Impact of POS Systems on Operational Efficiency: • Jamie shared insights on the transformation brought by advanced Point of Sale (POS) systems in restaurants. He explained how these systems have revolutionized restaurant communication, linking front and back of house operations seamlessly. This has enabled better management of orders, integration with third-party services, and streamlined financial processes like payroll and tip calculations, all contributing to more efficient operations and real-time data usage. 2. The Role of Data and Analytics in Strategic Decision Making: • He also highlighted the critical role of data and analytics in driving business decisions and strategies. With the example of seasonal businesses, Jamie illustrated how data analysis helps restaurants adjust their operations dynamically, effectively managing resources during peak and off-peak seasons. ...and more. Restaurateurs, don't miss out: these insights are invaluable. #RestaurantManagement #FoodServiceInnovation #HospitalityTech #OperationalEfficiency
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