The Three Best Restaurant Tips for Customer Retention
Gary Vaynerchuk
44719

OPTIMIZE FOR THE NEXT REPEAT PURCHASE

How much does it cost to acquire 1 customer? $50? $80?

Say you optimized for immediate margins. Being efficient with the first transaction, you earned $120 profit… at the expense of losing repeat business.

You could be running a restaurant, consultancy, or software business.

Whichever the case is, you have customer acquisition costs and a lifetime value per customer.

While we want new customers plus repeat purchases, retention is so underestimated.

It costs money to get a stranger in the shop. It costs money to build rapport. It costs money to understand a client’s specific needs. It costs so much money to turn them into advocates.


Now, optimizing for 7 repeat purchases does not feel too actionable.

What do you do instead?

Optimize for the next repeat purchase. Always.

For each transaction:

  • Put forward their satisfaction rather than milking the cow
  • Always offer an incentive to go back
  • Customize the incentive based on where they are in the journey (1st visit, 2nd visit, etc)