Hospitality marketing -
Restaurant Marketing & Promotion
Making the first approach
Having earmarked a few potential JMV partners, contact the decision makers, usually
the owners or managers, and explain that you’d like to outline a proposal for a joint
promotion that you think will go down well with their customers or clients. Although
this first approach could be by telephone it’s probably better done by letter; that
way you can plan what to say and also include a sample menu and other information
about your venue -
The goal at this stage is to get the decision makers from your target firms interested enough to find out more and one of the best ways to engage their interest is to invite them to a free lunch. That way you’ll be on home ground when you present your idea and they’ll be sampling first hand the benefits on offer.
Before you approach any potential JMV partners, make sure you’ve thought the arrangement
through. For example, decide what sort of discount you’re prepared to offer (see
Discount Offers -
imagination. There are probably dozens of local companies who would be delighted to join forces with you. For them, it’s a way to give their clients extra value and for you a chance to share in the goodwill that may have taken them years and many tens of thousands of pounds to create.
It’s worth bearing in mind that many larger businesses have a generous budget to reinforce their presence in the marketplace. Those with a large customer base could send out vouchers for your restaurant as birthday presents. The possibility of large numbers of people each and every month receiving an invitation to come and dine at your restaurant, from a trusted source, is a realistic possibility. Not only are they likely to turn up, they're likely to spend up too and bring along their friends. All you have to do is make sure they’re so satisfied that they’ll want to come back.
Insist on vetting the discount letter before it’s sent out to customers
Once you have a positive response, ask if you can have a say in how the discount letter is worded, volunteering to compose a rough draft as a starting point. Its style will need to reflect the character of both businesses so it may take a few goes to get it just right. Insist on vetting the final draft before it’s sent out so that you can be sure that nothing in it is misleading and that all conditions are clearly stated, including the essential requirement for customers to present the letter at your restaurant to claim their discount. You’re the one who has to honour the offer so it’s essential that you approve the final draft.
Explain how it works
Give your prospects time to relax, enjoy their meal and take in the surroundings
then grab their attention while they’re having coffee. Reiterate the potential benefits
of a JMV for both sides -
Resist any pressure to increase the value of the voucher beyond 75% of your average spend unless your JMV partner is prepared to finance the shortfall.
Explain that all you’re asking of your JMV partner in return is to promote the offer to their own customers and be responsible for any associated expenses.
Don’t be too disappointed if he decides not to participate. There are plenty more potential JMV partners out there.
Before you approach your potential JMV partner,
make sure you’ve thought the arrangement through.
What is a joint-
You have a great product but not enough customers. Another business has plenty of
customers but wants to add value to its product. A joint-
You may have already come across this without realising it, for example being given
a good deal on a hire car or hotel when booking a flight, or finding a brochure for
low-
A JMV offers savings in both time and money. It allows you to reach, and more importantly
gain the custom of, a much wider audience -
The difference between you offering a discount yourself or in conjunction with a
suitable partner is huge. Imagine receiving a generous money-
The best thing about a JMV is that it costs little or nothing. And, if the arrangement is properly structured, you could get dozens, if not hundreds of additional customers over time.
Choosing the right JMV partner
The first step to any successful relationship is finding the right partner and a JMV is no exception. Your partner in this context should ideally be a business that’s known and respected in the community with a good reputation that will rub off on you.
It’s important that their customer base is compatible with your own target market
as this will greatly increase the take-
A joint-
an attractive solution for both sides.
Joint-
Team up with another local business for a win-
Keep track of the results
Keep a record of all the redeemed discount letters not only for your own benefit
but also to advise your JMV partner how the promotion is progressing. He’ll be equally
keen to track the success rate as it may be something his firm wishes to continue
doing -
Be sure to add the details of all your new customers to your database along with a note of who they were introduced by as this will help you track the success of the promotion. And don’t forget to reward your JMV partner every so often, maybe for every 100 new customers. You can still benefit from his goodwill long after the promotion is finished.
Click on one of the headings below for more suggestions on how a JMV might work with local businesses in your area.
Choose & click an illustration of how a JMV could work with your local
Make them want to come back
Your ultimate goal with a JMV (or any other promotion) is to increase the number
of regular customers. A special offer might get people through the door but it’s
down to you and your team to make them want to come back. Go to Don’t just get them
in -
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