To help create long-term success for Father Fats, El Jefe’s, and Christian’s Bistro, assessing hard and soft ROI’s will help track the company’s growth and customer satisfaction. Hard ROI’s are the quantitative calculations that allows a company to track increase or decrease in supporters, website traffic, hashtag use, etc. Soft ROI’s are used to assess increase in employee productivity, company morale, word of mouth, customer satisfaction, and more. Hard and soft ROI’s are both important to track and maintain in order to increase a company’s success.
Each year, along with normal business days, these three restaurants host different public and private events such as beer dinners, National Tequila Day, Mardi Gras, and more. The information about these events is distributed by Facebook, monthly newsletters, infographics on check presenters, and word of mouth through employees and management. This year, we would like to challenge our employees and see if we can increase the number of followers to our Facebook page and increase the number of customers who sign up for our monthly newsletter.
GOAL: Increase the number of followers on Facebook and increase the number customers who sign up for monthly newsletters.
Father Fats – Increase from 4,893 followers to 5,393 in the next year
El Jefe – Increase from 2,474 followers to 2,974 in the next year
Christian’s Bistro – Increase from 940 followers to 1,440 in the next year
Monthly Newsletter Email Subscriptions:
Father Fats – Increase sign up from 100 people to 200 people in the next year
El Jefe’s – Increase sign up from 75 people to 125 people in the next year
Christian’s Bistro – Increase sign up from 50 people to 75 people in the next year
Using check presenters to offer sign up for monthly newsletters is considered our use of soft ROI. Our servers drop checks with a sign up for our monthly newsletter, along with a verbal description of how the customer will be informed and never miss any upcoming events if they sign up. Our server also informs the customer that our Facebook page presents the same information, along with daily menus and special items so that they never miss an opportunity. Determining whether we are gaining followers on Facebook and email subscribers are considered our hard ROI’s.
SEARCH ENGINE MARKETING
Search Engine Marketing (SMO) are the tools that will help us determine if our hard and soft ROI’s have increased. We will use Facebook analytics to assess our increase in followers. To assess the increase in email subscribers, managers will compare (by counting) the previous years subscribers to the current years. Mental math is the easiest way to track our email subscribers as the numbers do not reach as high as Facebook followers.