How Much Should You Spend on Your Marketing

Episode 244 June 08, 2023 00:26:23
How Much Should You Spend on Your Marketing
RESTAURANT STRATEGY
How Much Should You Spend on Your Marketing

Jun 08 2023 | 00:26:23

/

Show Notes

#244 - How Much Should You Spend on Your Marketing?

 

*****

This week's episode is brought to you by: TRIPLESEAT

Revolutionize your private event planning with Tripleseat's all-in-one platform. Boost new booking sales by 30%, generate more leads, create contracts, BEOs, and more. Plus listeners of the show get a discount when you sign up.

VISIT: https://tripleseat.com/restaurantstrategy/

*****

This week's episode is brought to you by: DAVO

Don’t let sales tax spoil your business. Stay on top of sales tax with automation from DAVO by Avalara so you can spend less time in the back office, and more time in the front of house. Click the link below to learn more and try DAVO free for the first month:

VISIT: https://www.DAVOsalestax.com/restaurantstrategy


*****


Marketing your restaurant is simpler than the experts might lead you to believe. Yes, there are technical aspects to doing it well, but more than that it simply requires a strategic approach.

Intention is a word I use a lot when it comes to marketing.

The question I'm often posed is: "How much should I be spending on my marketing?" And the answer you'll often here is somewhere between 3-4%. So if you generate about $100K a month in revenue, you should be spending about $4K on your marketing. 

But that's a poor way of looking at it because it doesn't ask you to think about the return. Marketing dollars are an investment, not just a spend. So if you're investing the dollars, you need to be clear about what sort of return to expect. 

On today's episode we're simplifying all of this! 

 

*****

Everything changes when your restaurant starts generating consistent, predictable, 20% profits every single month. Are you ready to level up? To bring your restaurant to where you know it should be? Just imagine how consistent profit would change your like. 

Ready to learn more about my P3 Mastermind Program? 

Schedule a FREE 30-minute Strategy Session: https://www.restaurantstrategypodcast.com/schedule 

Other Episodes

Episode 152

February 07, 2022 00:25:57
Episode Cover

What Disney Taught Me About the Future of Hospitality

#152 - What Disney Taught Me About the Future of Hospitality ***** I'm recording this in the closet of my hotel room at Walt...

Listen

Episode 126

August 09, 2021 01:15:39
Episode Cover

INTERVIEW with NY Times Food Photographer, Andrew Scrivani

#126 - INTERVIEW with NY Times Food Photographer, Andrew Scrivani ***** This week's episode is brought to you by: SEVENROOMS With a full suite...

Listen

Episode 221

March 20, 2023 01:13:25
Episode Cover

Mastering Operations with Restaurateur, Rick Camac

#221 - Mastering Operations with Restaurateur, Rick Camac *****  This week's episode is brought to you by: MARGIN EDGE Take control of your costs...

Listen