To be always in the trend and one step ahead, not to lose your flow of guests and offer the best service, it is important to competently and timely analyze competitors and their marketing strategies.
During the analysis, it is necessary to note both strengths and weaknesses in order to timely eliminate such shortcomings in your institution.
How to quickly and easily evaluate the marketing activity of a competitor?
Analysis of a unique selling proposition.
It is in every institution and, usually, all marketing activity is built around it. Note how the USP offer is made and what bonuses and chips competitors operate (absence / availability of delivery, loyalty systems and discount systems), draw up cards for each competitor.
It is important here to understand the general strategy of a competitor, to find out what he catches his guests with.
In a competitive analysis of my clients ’establishments, there are often situations when the menu is similar, and sales vary into the abyss. This is the result of various focuses on the work of marketers. Too many companies still build their business around the product, while their development requires focusing on the consumer.
2. Opportunities of competitors online. Do not write off modern PR methods over the Internet. Those who correctly use the capabilities of the Internet are always ahead of everyone else. Here, the general representation of the institution (website, social networks, target,) and the applications that the competitor came up with and launched for the convenience of their guests is important. Analyze the quality of the content; design and usability; technical features (speed of work, display in search engines in the top lines, etc.), advertising on the pages and sites of partners
3. Introduce yourself as a client of a competitor's establishment. Try the dishes and rate the kitchen, the range of menus, the quality of service and the work of the staff. At the same time, understand the conversion of the institution, if you visit regularly in order to assess the flow.
In small institutions it will not be difficult for half an hour to track the cost of 5-10 orders of other guests and understand the average check - do this with a frequency of 1-2 weeks and record the data.
4. Become a spy, of course, without breaking the law.
Subscribe to the competitors' mailings - read the texts and analyze the presence of keywords, the manner of treatment of guests, the regularity of mailings. Attend their events, interview guests present about what they like in this institution and what not, why they come here. So there is an opportunity to find out what determines the flow of guests - they came by recommendation, through an advertising channel, or simply do not know about the existence of other establishments in the area - so, communicating with the guests of competitors, you can see your “gaps” (not enough diverse menu, not enough information and outdoor advertising institutions, etc.)
5. Pages on social networks.
Guests make the restaurant, and on the Internet it will not be difficult to see competitors' guests. It is important to understand why they are here and how to satisfy their hunger for information. Well, to set a target, it’s important to understand your audience. Analyze your Instagram page to understand which posts and contests get the most response.
6. Fill acquaintances in your field, be sure to maintain communication with colleagues from related fields, and even with competitors themselves. Open war spoils the reputation of both parties, although sometimes open confrontation can also be a marketing ploy. Communication is a source of information: one of your colleagues is familiar with some of the competitors' colleagues and there are always channels to get interesting details, even representatives of competing restaurants themselves can tell interesting tricks unnoticed or boast of results and successful tricks.
What is all this for?
The task of each manager or owner of an institution is to try on competitive strategies for himself, make the necessary adjustments to get better, use the results of competitors to more accurately predict their own marketing programs and minimize costs.
For a comprehensive analysis of competitors, you can use the checklist of the visit and evaluate each of the items on a five-point scale with comments for your own purposes.
1.Restaurant Condition
- Is the restaurant tidy, clean and renovated outside?
- Is the restaurant inside clean and in good condition? (clean tables, floor, windows, toilet)
- Does the restaurant look like a place where I would like to come for lunch / dinner?
2. Are all employees dressed in a neat and clean uniform in a complete set?
3. Are you welcomed at the entrance? Are there any clothes hangers?
4. Toilets function
5. Are all employees friendly to both each other and to the guests?
6. Check the menu and price level to assess competitiveness (lunch, coffee, pastry, etc.)
7. Record all current restaurant promotions
8. Measure the speed of service + time spent in the queue
9. Ask to replace a dish that you did not like. Look at the response of the staff
10. The institution accepts credit cards11. Count the number of guests during peak hours. See how many guests turn around and leave
12. Measure the time taken to clean the dirty tables
13. Evaluate the competitor’s staffing list, see who is busy with what (the number of cooks, is there a manager and what is he busy with, the number of cashiers / waiters)
14. Be sure to place an order: evaluate the offer of additional dishes, the ability to colorfully describe the dish
15. Does the competitor have “chips” that they would like to adopt. Write down if necessary
16. Do an analysis of the strengths and weaknesses of the competitor
If you have not done a competitive analysis before, then be sure to do it. Learn a lot of new things.