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Amplifying Your F&B Business
Looking to increase the revenue of your F&B outlet?
The Singapore food industry is ever growing and it is important to understand the challenges of a thriving market.
With numerous tools and tactics at your disposal, business owners are left with the simple task of choosing the right ones.
This article will explore the various ways to amplify your F&B business in Singapore.
Target Audience
First and foremost, narrow down your pool of customers to the ones that “matter”. To get a better understanding of your segmented area, conduct a SWOT analysis and construct your brand based on that. For example, if the demographic presents you with a young audience, structure a business that will conform to their liking.
Brand Logo
Humans are visually driven. It affects the way we perceive things and helps generate more meaning. The design of your logo determines how others recognize your business. A well designed logo tells a good story. The Colonel’s face for KFC, McDonalds iconic ‘M’ and Nike’s swoosh are great examples of attention grabbing logos.
Unique Selling Point
All restaurants should have their own USP. It differentiates your brand from other outlets and may be a definitive factor to your business. Your USP makes you special and it comes in the form of service, ambiance, cost, design and menu choice. Keep your USP simple and relatable to your target audience.
Crafting Your Menu
A menu is the bridge between your customer and the cash register. There won’t be cash flow if your menu doesn’t do its job. The psychology behind constructing a menu is vital in helping customers make a choice. The illustrations, sections, pricing and word fonts are factors to consider.
POS System
Investing in a top notch POS system will create a smoother work flow. It helps employee’s process orders quickly and efficiently, improving customer service and saving staff time. It also keeps track of sales record which can help owners maximize and minimize certain products.
Online Delivery
Food delivery service has revolutionized the food industry. It’s a win win situation where customers order from the comfort of home while your business still cashes in. Here are 2 different methods of online delivery.
- Direct
Using your own delivery fleet gives you more control over the delivery. It can also be cheaper than going through a third party app. Train your staff to make safe yet timely deliveries. As a representation of your business, they should also maintain a sense of integrity.
- Food Apps
Third party apps can give your business more exposure. With over a million users, apps like Deliveroo and GrabFood are great platforms to gain outreach. It allows you to serve a wider range of customers and build your brand at the same time.
Customer Loyalty
Customer retention is a great way to maintain a constant flow of revenue. Customers who return are called “repeat customers” and owners should thrive to maintain them. This can be done by implementing a customer loyalty program. A loyalty program helps customers feel appreciated and at the same time, promotes word of mouth marketing.
Digital Marketing
Digital presence is a powerful tool that can expand your market. It allows you to tap into online marketing tactics and convert prospects efficiently and effectively. Here are some famous digital marketing strategies you can implement.
- Company Website
Having a website is a great way to increase brand awareness. It makes your business more professional and it gives an edge over competitors who don’t own one. Websites are also much cheaper than conventional print ads or commercials. Be sure to invest in a credible wed developer to get the best results.
- Social Media
Social media is free and it has the largest audience in the world. Out of a population of 5.92 million, Singapore has over 5.3 million social media users and counting. Posting high quality content and collaborating with influencers are popular social media tactics you can use.
Data Analytics
Consistency in product quality is essential and data analysis provides a way to understand the method of doing so. It provides insight into the manufacturing process and how it may impact your food. The insights are used to improve the process of making food by eliminating elements that may deter its quality.
