“If you have good food, people will come to your restaurant,” goes the conventional belief.
How true does it stand in today’s era where the paradigm has shifted from business-centric to consumer-centric?
According to the Restaurant Marketing Specialist at Netclues, if the only thing a restaurant is focusing on is food, it is likely to fall, given the myriad options consumers have to dine in the Cayman Islands.
Today, a restaurant needs good food, great ambiance, fast service, and a strategic marketing approach. One of the many essentials for your restaurant to succeed or the marketing campaign to yield results is to target the right audience.
This brings us to our original question - Are you targeting the right audience for your restaurant in the Cayman Islands?
60% of restaurants close within the first year of the opening, according to CNBC.
The primary reason behind this failure - ‘LOCATION.’
This indirectly insinuates the lack of analysis and understanding of their target audience’s preference. Of course, that’s not the only reason, but in this article, let’s focus on this.
For a business, especially a restaurant business, the target customers should be at the core of every step - from planning to implementing the strategy.
One of the biggest mistakes any restaurant makes is believing that its target audience includes everyone. If you are one of those, you’re setting yourself up for failure. Never try to appeal to everyone.
You must concentrate your efforts towards a group of people who is likely to buy your service, i.e., your target audience. This increases your chances of generating more leads, more conversion, and in turn, more revenue.
Still not convinced? Here are some more advantages of defining your target market:
Have you ever wondered why franchise restaurants are often successful?
One of the fundamental reasons is that they have identified the specific target customer in the market, even before launching their business. They conduct meticulous market research and surveys to determine if their target market is sufficient to give them a promising start.
The research is based on demographics (geographic location, population age/gender, income, etc.), psychographics (interests, attitude, etc.), and behavior.
On the contrary, many local restaurant owners start materializing the concept without verifying if there’s the right audience to make their idea successful.
Before creating the buyer persona, you need to observe and understand who’s visiting similar restaurants.
The Cayman Islands have over 250 restaurants. This means that you have got cut-throat competition, but there’s a silver lining - you don’t have to start from the ground up to understand your target audience.
Visit at least three competitors during lunch, breakfast, and dinner, or research them online to draw a concrete picture.
What should you observe?
Next, look for a pattern. Are consumers of a similar age group at all three restaurants during lunch? Is the menu’s tonality the same everywhere? Is the music genre or ambiance consistent?
These trends will help you define your target market.
Drill down your initial data into three categories for every restaurant’s customer type - Demographics, psychographics, and behavior.
Don’t forget to research each social media platform’s dynamics to see where your audience will be found.
|Group 1 at Restaurant X
|Dominated by male
|CI 10-15 per entree
|Online Platform - Instagram, Facebook
|Group 2 at Restaurant X
|CI 15-20 per entree
|Online Platform - LinkedIn, Facebook
This will help you streamline your data and sketch a basic profile typical of your target audience.
Depending on your convenience, some ways to gather data is through hosting a focus group or creating an online survey.
Remember, the survey must answer - their concerns, motivation, values, what they do in their spare time, how often they dine out, what draws them to a particular place, etc.
After following every step diligently, you should be able to draw out your buyer’s persona based on your collected data, just like a novelist does when working on his story’s characters.
Now that you have a general sense of your buyer’s persona, create a marketing campaign. No one gets it right the first time. So you will most likely end up making some adjustments before your ad garners attention and conversion.
Now that you know who to target and where to find them, you can further your marketing campaign and get your ad(s) live on the platform where your audience is. A strong foundation will prevent your chances of failure.
If you are micromanaging your restaurant, the digital marketing team at Netclues can help take off the burden of marketing from your shoulders. Leveraging our decade of experience in Cayman’s restaurant marketing scene, we can help you generate quality leads and stay in front of your target audience.
Understanding your restaurant’s target market is the first step to achieving success. Our market analysts can help make the most out of your ad campaigns.
Jay Mehta is the Internet Marketing & Sales Executive at Netclues for over a decade. Jay has been a marketer, content writer, blogger, advertiser, project manager and a knowledge base for several business in the Cayman Islands and he has had many publications in the industry.
At Netclues we intent on being a company that the entire community is proud of. We invest greatly in people & technology. We have some extremely talented people who work with us to give our clients exceptional products & service. We never satisfy with “good enough” we always aim for perfection & excellence. We work extremely hard and now and again get recognized for it as well.
Netclues is a team of web development experts, who came together years ago with a vision to offer enterprise and organization level solutions to clients. Equipped with the best people, first hand experience and the best technological backbone of the industry, we bring businesses face-to-face with profitability and an intensive brand awareness. One thing about us, which we feel elation in elaborating, is our capacity to customize