If you haven’t downloaded our 2023 subscription report, then the next 500 words should drive you to hitting that link at the bottom of this page. Our “Feature Focus” series continues as we look into how you can customise your subscription to your restaurants needs, we are leading up to our “Leveraging Subscription-Based Offers: A Recipe for Restaurant Success” webinar on September 19th with our partners, Paytronix.
As restaurant owners, you understand that satisfying your guests goes beyond serving delicious meals. It’s about crafting an experience that resonates, fosters loyalty, and drives revenue. Enter the world of tailored subscription models—a strategic approach that’s redefining customer engagement and transforming the restaurant industry.
Elevating the Experience with Member Perks
Imagine your customers walking into your establishment and feeling like VIPs, part of an exclusive culinary club. That’s the power of member perks. By offering occasional, unadvertised specials exclusively for your subscription members, you’re not just enticing them; you’re making them feel valued. Think of the allure of surprise 2-for-1 drink deals during specific months, akin to the successful Matty O’Reilly dining membership. It’s all about providing that extra touch that keeps them coming back for more.
Exclusivity and Waiting Lists: A Time-Tested Strategy
The concept of limited availability has driven purchasing decisions for centuries. It’s no different in the realm of restaurant subscriptions. While offering free coffee memberships might not make sense for this strategy, consider applying it to higher-ticket items like entrées and meals. By strategically limiting memberships and highlighting that only a few slots are left, you’re igniting a sense of urgency that can sway even the most hesitant customers.
Harnessing the Referral Power
Word of mouth is a potent force, and referral bonuses tap directly into this phenomenon. Rewarding your subscribers for bringing friends on board is a time-tested approach that resonates well with subscription models. Take a leaf out of Panera’s book—offering three months of free coffee subscription for two friend sign-ups. Not only does this expand your subscriber base, but it also deepens the sense of community around your restaurant.
Overcoming Commitment Hurdles with Free Intro Periods
Commitment can be daunting, especially in a subscription scenario. This is where the concept of a free introductory period shines. Imagine inviting potential subscribers to experience the perks of your subscription for a brief window, no strings attached. The Panera coffee program’s initial free period is a great example. This strategy alleviates concerns, allowing members to ease into the program before transitioning to automatic billing.
The Power of Free Shipping
The geographical boundaries of your restaurant need not limit your reach. With the allure of free shipping, you can expand your subscriber base exponentially. Katz Deli’s monthly box of New York favourites is a prime example—showcasing adaptability by changing box contents based on availability. On a local scale, consider integrating faster delivery options for subscribers, enhancing convenience and satisfaction.
Potential for Loyalty and Revenue
The bottom line is crystal clear: subscription models possess the potential to revolutionise customer loyalty and revenue generation. By customising your offerings, embracing exclusivity, leveraging referrals, easing commitment concerns, and expanding reach, you’re not just creating transactions—you’re building lasting relationships.
If you are still unsure of how subscription can work in your business, join us on September 19th for our “Leveraging Subscription-Based Offers: A Recipe for Restaurant Success” Webinar with our partners, Paytronix, where we will show you how to onboard subscription into your business that guarantees higher revenues and customer retention, you can download our latest insight below.