Another year has come and gone. As is our annual tradition, we would like to take a look back on 2017 and the year’s top articles on the On Point: POS Technology Blog.
By now, you have no doubt heard the horror stories of data breaches resulting in stolen customer information at big box stores and large chain restaurants. But just because we only hear about breaches at large companies, it doesn’t mean they aren’t occurring in smaller chains and independent restaurants. In fact, hackers specifically target small retail businesses and restaurants that tend to have less rigorous security controls in place.
Based on statistics released in 2016, more than 80% of all internet users own a smartphone. These people are your current and potential customers, and you need to meet them where they are—on their smartphones.
Smartphone adoption rates are even higher for people between the ages of 18 and 49—more than 90%. Another study also revealed that this group spends 89% of their screen time using mobile apps, but only 11% on mobile browsers. The case for building a mobile app for any business is stronger now than ever before.
Just how much is your most valuable customer worth? More than you would think. According to Venga, your top 5% of customers bring in 20% of your restaurant’s total revenue. That’s a small number of people bringing in a lot of your revenue.
Where do you take your friends for a meal? Your favorite restaurant, of course! Your most frequent customers will likely introduce friends, coworkers, and family to your establishment, as well—and are some of your most likely online reviewers too. So they are absolutely key to increasing your customer base.