Author: Carmen Mallo (Revenue Management specialist and Founder of REMS Hospitality)
Running a successful restaurant is hard and takes a lot of work. In a dynamic and competitive industry, restaurant owners and managers constantly seek innovative ways to enhance customer experiences, increase revenue, and stay ahead of the competition. One powerful strategy that has become more popular recently is the integration of Point of Sale (POS) data with data from Table Management Systems (TMS). This integration can offer many benefits that can significantly transform restaurants' operations, leading to improved guest satisfaction, targeted marketing, and informed decision-making. Let´s look at them:
**1. Live Insights into Guest Preferences**
The combination of POS and TMS data gives restaurants real-time insight into their guests' preferences and behaviours. By analysing what items guests order, how often they visit, and their preferred dining times, restaurants can gain valuable insights into what resonates with their customer base. This information enables them to make informed menu adjustments, introduce new dishes that align with customer tastes, and optimise inventory management.
**2. Personalised Upselling and Recommendations**
One of the most immediate benefits of this integration is the ability to use spending data to upsell and recommend items tailored to individual guest preferences. When teams are armed with information about a guest's past orders and dining history, they can make more personalised recommendations that enhance the overall dining experience. This personalised approach leads to increased guest satisfaction and higher revenue through more strategic upselling.
**3. Effective Targeted Marketing**
In the era of data-driven marketing, integrating POS and TMS data empowers restaurants to craft targeted marketing campaigns. With insights into guest preferences and behaviour, restaurants can design promotions and special offers that resonate with their audience. This highly focused approach leads to more effective marketing strategies, a higher investment return, and a more extensive customer base.
**4. Optimisation of Reservation Patterns and Channels**
Accurate and up-to-date data from POS and TMS can enable restaurants to optimise their reservation systems and channels. By analysing peak dining times, slow periods, and average table turnover, restaurants can make data-driven decisions about reservation availability, staffing levels, and pricing strategies. This results in a smoother dining experience for guests and improved operational efficiency for the restaurant.
**5. REMS Integration: Staying Ahead with Competitive Insights**
REMS currently connect to major TMS. This integration enables quick access to competitors' performance data through REMS market share and analytics reports, helping restaurants stay competitive and agile in a dynamic market landscape. Competitor analysis is a crucial aspect of maintaining a successful restaurant. REMS allow restaurants to understand better how their competitors are performing. By benchmarking their performance against industry standards and studying competitors' strategies, restaurants can identify areas for improvement, adopt best practices, and maintain their position as leaders in the market.
Ok. But how do I do it?
Check with your reservation system provider to see if they have an integration built with your POS company. Most likely, that could be the case, but if not, you can always ask:)
In conclusion, the benefits of connecting POS data with data from Table Management Systems are undeniable. This integration offers a holistic view of guest preferences, facilitates personalised upselling and recommendations, empowers targeted marketing efforts, optimises reservation patterns and channels, and allows swift integration with REMS. With the restaurant industry evolving rapidly, those who leverage the power of data integration will undoubtedly position themselves for sustained success. By staying attuned to guest preferences and market trends, restaurants can deliver exceptional experiences and remain at the forefront of culinary innovation.
Thanks for reading, and remember to sign up to REMS to access Market Share data for the restaurant world.