How To Grow Your Hospitality Or Bar Business In A Recession
Growing a business in any climate can be tricky, but pulling off this feat can become even more difficult a recession. Yet, with some simple steps and planning, it is completely possible to grow your hospitality or bar business during a recession.
If you are working with hospitality or bar businesses, you really have to think of your street sign as a key player in attracting customers. Street signage is extremely significant, as up to an amazing 70% of all your traffic will be from people who see your sign and walk through your doors. The cost for a good sign may be a little pricey, but it s also an expense that just keeps on yielding returns day after day, and year after year.
Just as a street sign is a key play in acquiring customers, this is also the case with interior signage. Interior signs let your existing customers know what kind of specials and promotions you will be offering in the coming days and weeks. It s a lot easier to keep your established customer base coming back than it is to constantly attract new customers. Professionally designed interior signage will quickly pay for itself.
The world has firmly moved into the digital age and the age of the Internet. Quite literally, everyone is using the Internet, and every year this fact becomes more and more true. As a result of the Internet revolution, your establishment absolutely needs a website and a good website design. Having a phone book listing is no longer enough. The fact is that a business without some sort of web presence just strikes people as being a bit odd in today s business climate. A quality website that looks polished and well thought out is key. If you don t consider yourself to be web savvy, enlist the help of a friend or two who can give some input.
The fourth key way to grow your hospitality or bar business during a recession is social media advertising. It might shock many people to learn that around half a billion people, yes 500 million, are involved in social media in some fashion. Start by tackling the major social media sites such as Twitter, Facebook and Myspace. Simply create profiles for your business, make and accept new friends, and send out announcements about what sort of specials you are running. Social media advertising is a great way to cheaply reach lots of potential customers. Don t forget most sites let you zero in on a specific city or area for your social media advertising. This fact is an added benefit which means you can reach your target market.
Pay per click is another way for you to reach a lot of people at a low price. Facebook, for example, allows you to pick your desired city and even target workers from specific companies. Best of all you only pay for results. With pay per click you only pay once someone clicks on your ad. Pay per click is a low cost way to get your name out there.
Online press releases are another inexpensive way to get the word out about your business. There are lots of online press release sites that will let you submit your press release for free, and if you pay a little extra they will give it some special attention. You can also find press release sites which charge you a fee, and they often come with better results. The bottom line is that a properly executed online press release can drive a lot of attention to your establishment's website. Also, press releases can lead to much more web exposure, which in turn can lead to high rankings on search engine results. A press release that catches on and gets noticed by Google, for example, can yield more customers for quite some time to come.
A great way for any local business to stimulate more traffic is to offer special deals to local organizations, groups and businesses. Try joining a local chamber of commerce and give them all the details about your establishment and what kind of deals you are offering to local businesses. Don t be afraid to network and spread word of your business to leaders in your community. Once people know you, they will be more encouraged to visit your establishment and tell others.
One good way to reach people in a no cost fashion is to create an e mail list. Customers will fill out cards and give you their contact information in exchange for drawings or giveaways. This is a great way to build momentum as you can send emails about what specials you are offering or just newsletters which will keep your business fresh in their memories. Another effective way to add to your database is to look for e mail lists for companies in your area. Perhaps offering everyone at that company a discount for company gatherings.
In a recession, it makes a great deal of sense to work with others. This is especially true for joint marketing opportunities. If you have a bar, for example, and you don t serve food, why not team up with local restaurants that deliver? This idea allows you to split the advertising cost. You can also advertise in each other s establishments, thus reaching more potential customers at zero extra cost. Having good partnerships will undoubtedly be a win win.
You shouldn t lose sight of the fact that the very best way to build your business is usually great word of mouth. If your customers love your establishment and feel that you offer them the best service possible, they will tell their friends and even better yet they will often bring their friends. Positive word of mouth is a fantastic way to see your business grow and grow. And remember, once you have those customers in the seats, never stop selling. Steer customers to your best and most profitable items, and you will see profits soar.