Hard and Soft ROI’s – Restaurant Style

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.

Facebook:

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.

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3 Comments

  1. Allie,
    Creating fun hashtags to use would help people think of the business or remember the restaurants visited. Trying to get customers to sign up for a monthly newsletter is a great idea. Would you include any specials for people who are signed up? I feel like that would be a good “incentive” or “motivator” to get more people to do so. The same could go for people who like the businesses Facebook page. Nice job!
    Dawn

    Like

  2. Allie,
    This was very interesting to read about soft/hard ROI from a restaurant perspective. I wonder if you did an event that those who signed up for the e-mail subscription or Facebook during a certain time there would be a discount at the restaurant, if that would help you obtain those increase in numbers.
    Nice work,
    Ashley

    Like

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