How to Build Loyal Customers with your Restaurant Marketing

Loyal customers, particularly if they’re big spenders, add a solid revenue base upon which to grow your business. You can count on their steady business as you seek to build up their numbers. Many businesses understand this and appreciate customer loyalty in terms of revenue generation and business growth. However, you can benefit from loyal customers in other ways that pertain to reducing the cost of running your business.

Loyalty marketing for Restaurants

To name a few:

  • 86% of loyal customers are inclined to recommend the brand to others which results in 16% higher average value
  • The cost of acquiring a new customer can be up to 25 times greater than keeping a repeat customer

Let’s explore some of the ways loyal customers help drive costs down and increase revenue for your business. for more info click here

Loyalty Marketing Programs

Inventory management is a balancing act between having too little or too much inventory. For both retail and restaurant businesses, insufficient inventory means lost revenue from stockouts that cause unhappy customers to take their business elsewhere. Alternatively, customers may fail to return after waiting for a backorder (retail) or ordering an alternative meal (restaurant).

The cost of excess inventory for retailers includes storage costs and loss of inventory value because of seasonality factors or obsolescence. Inventory can also be damaged, lost or stolen. Excess inventory ties up money that could have been used for business growth. Restaurants face food spoilage or reduced profit when selling excess food inventory as low cost meals.

A crucial element of getting inventory right is accurate demand forecasting. Failing this, many businesses will pad their inventory with safety stock to deal with unexpected demand surges. The greater the demand uncertainty, the larger (and more expensive) the safety stock required. For many markets, demand forecasts for first time purchases have a high degree of associated uncertainty. This fuzziness is caused by many factors including the success or failure of marketing campaigns.

On the other hand, forecasting the demand of loyal customers is relatively straightforward. Customer loyalty means they’re repeat buyers, which provides a business with plenty of data on their patterns and habits. Many types of consumable goods require replacement on a regular basis such as batteries or light bulbs. Predicting their demand from repeat buyers involves very little uncertainty.

Other less regularly purchased items require more information and analysis. However, the long purchasing histories of repeat customers provide plenty of data. In addition, loyal customers are less reluctant to volunteer whatever information is asked of them. In any case, accurate demand prediction is highly feasible. This forecast accuracy reduces the need for costly safety stock. This is true for both retail and restaurant businesses.

Restaurant Marketing

Unlike a prospect with no prior interaction with a business, repeat customers require little inducement to continue their regular patronage of a favorite retail store or restaurant. With loyal customers such as these, the main concern of marketing is increasing their lifetime value. This means reducing their churn rate (percentage that end their patronage per unit of time), and increasing their spending per unit of time. Programs that reward repeat customers for their loyalty make them feel appreciated. This increases their feelings of goodwill toward the business and reduces churn rate. Increasing their spending is often done with upsells or upgraded products (retailers), or more expensive dishes (restaurants).

By contrast, acquiring new customers requires nurturing them as they make their way through the buying cycle. A simplified buying cycle consists of four stages:

  • Awareness of a need
  • Exploring options for this need
  • Narrowing down these options to one solution
  • Buying that solution as a specific product or service

This cycle is often lengthy where each stage requires a different series of marketing messaging and actions. This is a costly marketing process compared to the previously discussed program of increasing the lifetime value of loyal customers.

Of course, for continual growth of a loyal customer base, new customer acquisition is necessary. However, too many businesses are highly biased toward getting new customers while devoting too little of their marketing resources to their loyal customers. By shifting the balance of marketing resources in favor of increasing the lifetime value of loyal customers, big savings are realized with leaner inventories and reduced marketing expenditures while simultaneously increasing revenue generation and business growth.

Top Reasons To Sell Your House To A Cash Investor

Owning a home can come with a lot of joy, but it also could come with some financial stress. Over time, you may want to consider selling your home for a variety of different reasons. You could go through the traditional route of real estate sales, which is fine. But if you want to take advantage of an easier solution, and perhaps explore an option that could help you across several advantages, you may want to look into selling to a cash investor. You may have seen signs that state, we buy houses San Bernardino, and wonder if it’s worth your time. The following will explore that, and give you a few top reasons why it may be advantageous.

Faster Sell Through

If you were to work with a real estate agent, and go through the traditional means of selling a home you may run into delays. Financing, escrow, and a lot more hinder the process of selling. You could very well be stuck in your home for months on end, even after someone has agreed to purchase your home. If you want to expedite the process, you can do so through the use of a cash investor, which will help you sell through things fast, without having to deal with the stumbling blocks of financing, banks, and more.

Condition Doesn’t Matter

Moving forward, you’ll find that selling a home to an investor allows you to sell your home even if it needs work. Condition doesn’t matter to investors, because they will be able to fix it up and either resell it, or wait for it to improve in value over time. You won’t have to deal with any repairs, you won’t need to spend money on correcting things, you’ll get paid cash for your home, regardless of the cost.

It’s More Convenient Than Traditional Routes

Investors are going to be able to work with you in flexible agreement options. Unlike other options, you’ll be able to work with easier dates, moving process, and other elements. You will not have to jump through hoops, or deal with the same organization that a bank or other institution may ask you to go through. You will be able to work with different terms, dates, and perhaps even live in your home a little longer than through other solutions. Investors may even allow you to move swiftly, leaving behind appliances, or other things you don’t want to take with you. Whatever the case, it’s more convenient than traditional means.

Sell your home for cash fast in San Bernardino and Riverside

The Premier LOCAL Home Buyer in Riverside, CA

San Bernardino and Riverside are neighboring counties. We buy houses all through out the “Inland Empire”. We are the premier “We Buy Houses Riverside County” home buying company.   We are a local firm with more almost 10 years of experience and over that period we have worked with hundreds of sellers who needed to sell their homes quickly for a fair price.

Yes…we buy houses in Riverside and San Bernardino for cash and we’d love to make you a fair all-cash offer for your home regardless of your situation or the condition of the property.

If you need to sell fast in these surrounding areas please call us:

  • We buy houses Riverside
  • We buy houses San Bernardino
  • We buy houses in Desert Hot Springs
  • We buy houses in Palm Desert
  • We buy houses in Joshua Tree

We buy houses as-is and can help you get rid of that burdensome property no matter what the condition is.  If the house is in terrible shape and you don’t want to (or can’t) fix it up… NO problem, we’ll buy it AS-IS.  If you need to get something done quickly, we can close in as little as 2 weeks because we buy houses with cash and don’t have to rely on traditional bank financing.

  • Our company is great to work with because we can move quickly and pay cash for homes that we buy. While these two reasons are enough to motivate most sellers like yourself, here are a few more reasons to sell your house to us.
  • No need to make time consuming and costly repairs – When you are selling a house through traditional methods you are the one responsible for making repairs that the bank requires for a mortgage. Work with us today and we will buy your house “as-is”, no roof to replace, no plumbing to fix, you don’t even have to clean it.
  • Avoid Foreclosure – Many Americans are in the unfortunate position of being unable to pay their mortgage. Even when they place their house on the market they may still go into foreclosure waiting for a buyer. This is where our company can help. We can offer a quick closing on your house, pay cash and help you avoid foreclosure and the credit issues that follow.
  • We pay all closing costs – There are costly closing costs involved with selling a house through traditional methods. When you sell your house fast to us we normally pay all of the closing cost leaving more money for you.
  • IN SHORT, we can help you no matter the condition of your house – your situation – or timeframe…

Our motto is “We Buy Houses San Bernardino and Riverside“.  We are investors who can help you sell your house fast. Our service may not be for everyone but our cash offers are no obligation and hassle free.  If you decide to go the traditional route at least you’ll have a real bonafide offer that you can consider now or in the future. If you prefer to talk to someone in our office before submitting your property information just give us a call today.

The Price of Desert Homes Rising In Coachella Valley

Southern California homes are starting to rise across the region. While some areas aren’t getting as high as others, some pockets are getting a lot of attention. One such location is the Coachella Valley, which is seeing a major increase in demand. In fact, in recent months, the area has seen an increase in median price of 13%. Analysts are seeing higher demand for homes, with a median price point of $345,000, up 13%. The available homes for sale may have dropped, but demand is rising, and values are also rising.

California Housing Prices Rising

Real Estate in the Coachella ValleyIt should be noted that California as a whole has seen an increase in median home pricing. You’ll find that the average price point for California is around $536,750 and has been rising steadily around 5% annually. Even with such a high price point, you’ll find that the Coachella Valley is lower than the rest of the region. The desert areas of California are lower cost, in high demand, and yet are the most affordable. In fact, one zip code in the desert is touted as the most affordable at only $123 per square foot (92240).

A Buyer’s Market in the Coachella Valley

Families looking to purchase a home today may want to look into purchasing homes in the desert areas of Riverside County, such as Desert Hot Springs and Indio, as the prices are going to continue to rise.

Looking back at overall home sales from the first and second quarter of 2017, new construction sales are down, and yet prices are rising. Median prices are going to continue to rise, as more and more people outside the Coachella Valley, especially in Los Angeles and Orange County seek out other areas to purchase a home. Buyers on the fence, not sure about purchasing a new home will no doubt see prices rising across the region, as indicated by the Coachella Valley real estate numbers that are continuing to jump in 2017.

Overall, buying a home can be a great thing. If you’re interested in Southern California real estate, the affordability ratio is going to change in the coming months, and year. It’s already rising in areas that were traditionally affordable, and will only rise as more people are priced out of Los Angeles, Orange County, and some parts of San Bernardino County. If you’re going to invest, it’s time to look now, as the 13% increase that has come through 2017 may very well only be a sign of things to come.

If you are considering  moving to the Coachella Valley or surrounding areas, here is an article that may help you make your decision.

Housing Affordability in San Bernardino Could Be Shifting

San Bernardino County Real Estate

San Bernardino County Real EstateSouthern California is a hot bed for real estate. You’ll find that Los Angeles and Orange County are often the areas that people discuss when looking into housing. However, there are other hotbeds as people realize those two counties are starting to rise to all new levels. The houses can price many individuals out, leaving other cities to get more interesting. San Bernardino, for instance, is getting a great deal of interest, and the median prices are lower than those of Los Angeles County and even Orange County, for houses that are similar in square footage, and beyond.

The Median Price Point in San Bernardino

As far as housing affordability in San Bernardino, consider the average listing price is around $240K. Compared to the median prices of other counties, you’ll find that this becomes advantageous for first time buyers, and those that do not have a large income. Since the median price point starts so low, single family homes can be purchased before the influx of buyers coming from other counties swoop in and cause a rise in the overall price points.

Houses of All Types

As you look into purchasing a home, you’ll find that there are a lot of different styles of houses to consider. You could very well find a 2 bedroom 1 bathroom home for around $169,000 or a large multi-story home for upwards of $485,000. There’s a lot to explore in between the price points, and it truly is a buyer’s market at the present. You’ll want to explore the greater San Bernardino real estate regions, such as Yucca Valley  , as you’ll be able to see what the market is offering, and how far your dollar can stretch overall.

Southern California Is Still Affordable

There are a lot of people that will tell you Southern California realty is not affordable. That could be true about some areas in the region, but if you focus on going east of Los Angeles, into a new county, you’ll find that real estate developers are creating an oasis of homes that are stunning, affordable, and give you all the creature comforts you would expect from other locations, at a fraction of the cost.

If you’re looking for your first home, or simply want to upgrade, without over-stretching your budget, then you may want to look at San Bernardino real estate, as there’s a lot to explore, for a lot less than other areas nearby. There are listings for every budget, and you’ll be surprised if you just look into it today.

Selling to an Investor

You should not consider selling to an investor in San Bernardino if your house is in great shape, unless you need to sell quickly. If your house is in good shape and you don’t need to sell quickly, listing it or selling it yourself would be a better idea.

We Buy Houses in San BernadinoShould I sell my house to an investor? Often we think of individual buyers or families as the typical buyers for houses. This has changed rapidly over the last few years and investors, or companies that buy houses are now making a large portion of the purchases of single family houses. Knowing if selling to an investor is key to making the right decision, as you shouldn’t always do so. In fact, sometimes selling to an investor may net you less money from the sale, other times it’s the best possible decision to make. Here’s how to tell if selling to an investor is the right decision for your situation.

Why you May Want to Sell to an Investor in San Bernardino

  • Often times sellers do not have to wait for conventional financing. Financing often delays the process of closing, and can significantly increase the time spent in escrow. Investors most often purchase using cash, meaning they can close quickly, or on the date of your choice.
  • Investors typically do not care about the condition of the property. Investors often times are not planning on living in the house, so condition is usually never an issue.   This can be very helpful if your property cannot qualify for financing.
  • Investors are typically flexible on the terms of an agreement, where a typical buyer might not be. For example, closing date, condition, moving arraignments, etc… Most investors also do not care if you choose to leave items at the house.

Why You May Not Want to Sell to An Investor

  • Make sure you do your research on the company or individual who is buying the house. Make sure they have some testimonials, or ask for a list of properties recently bought. Also, ask for referrals. Usually a real estate agent would do this work for you, but if you’re selling to an investor without a realtor doing a little homework upfront can go a long way.
  • Most investors do not pay full market value for the house. This doesn’t necessarily mean it’s a bad deal. If the house is in bad shape you can end up saving money on realtor fees, escrow fees, closing costs, repair costs, and holding costs like mortgage, taxes and interest. Just make sure you have a decent understanding of the property value in its “as-is” condition. Also, make sure you understand that an investor needs to make a profit, while a regular home buyer does not.