Discounts, Bundles and Anchors: Three Pricing Principles to Attract Customers and Boost Sales

Posted by The Resy Team on Nov 25, 2020 11:06:32 AM

With punishing curfews, bans on households mixing indoors and overall capacity limits, the hospitality sector has had to look for new ways to attract customers back to their dining rooms, with a mixture of the physical — outdoor heaters and rainproof canopies, for example — and financial. Speaking to the latter, pricing psychology principles can help draw attention to your business’s offerings, entice guests and boost revenue.  

But using pricing strategies on your menu can be just like using salt in your kitchen — the right amount is great, but overdoing it can be catastrophic to your product. We’ve compiled the pros, cons, and best practises for three pricing strategies that you can start using today.

How Resy's Event Tool Powers This Boston Restaurant's Successful Cold Weather Setup

Posted by The Resy Team on Nov 20, 2020 11:35:58 AM

 

Events Manager Hilary Neville had been planning for a banner year of special events at Woods Hill Pier 4, a sustainable eatery with gigantic glass windows overlooking the harbor in Boston’s Seaport District. “When we first opened in November 2019, our holiday season was booming,” says Neville. “We had tons of large corporate events and several weddings on the books for 2020.” Designed specifically with private events in mind, Woods Hill Pier 4, the third restaurant from restaurateur Kristin Canty and executive fhef Charlie Foster, offered a dramatic backdrop and modular spaces for celebrations from 10 to 200 guests.

 

But when Boston’s lockdown measures were put in place in March, Neville scrambled to cancel dozens of booked engagements. Due to their high price point and elegant style of fine dining, the team decided setting up takeout or delivery would be more trouble than it was worth and opted to close down the restaurant. In a familiar scene across the country, all employees filed for unemployment and existing food reserves were pickled, frozen, or cooked down for staff family meals.

 

When Boston restaurants were allowed to re-open for indoor dining on June 22, the team got back to work serving their signature whole animal cuisine with ingredients sourced directly from Canty’s 260-acre farm in New Hampshire. Since indoor dining was still an uncomfortable prospect for many and total capacity inside was limited due to table spacing mandates, the restaurant seized on the opportunity to welcome diners back to their scenic patio in the warmth of a New England summer.

 

But just as inevitable as the arrival of Bill Belichick’s cutoff sweatshirt, the summer quickly turned to a colorful but chilly New England fall. Woods Hill Pier 4 was challenged with how to bring in revenue as patio season waned. The team started by exploring the possibility of tenting their entire outdoor space. “We were working with a local company with the hopes of having a tented, heated space that could go through the winter season,” says Neville. “But the cost was just too prohibitive for us to make any money by the time it was going to be set up.”

 

Our Continued Commitment to Restaurant Success in 2021

Posted by The Resy Team on Nov 17, 2020 2:23:42 PM

Dear Partners:

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An Announcement from Resy Co-founder and CEO Ben Leventhal

Posted by The Resy Team on Nov 17, 2020 1:57:52 PM

The time has come for me to step down from my role as GM of the Amex Global Dining team, which includes Resy, the hospitality technology company I founded almost seven years ago. I am excited to remain engaged with the business in an advisory role, and work closely with American Express and Resy colleagues to shape their strategy for the future. In addition, I’ll aid in the search for and transition to a new leader. 

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Email Marketing for Restaurants: What You Need to Know

Posted by The Resy Team on Oct 1, 2020 12:15:23 PM

We know restaurants are looking for ways to boost earnings, which is why we’ve provided resources on menu engineering, consumer sentiment data and trends, and a tool to measure the viability of potential new revenue streams. To ensure you see a return on your investments, keep your diners informed and aware of the different ways they can take advantage of your offerings.  Alex Johnson, Email Marketing Manager for Resy, says email marketing campaigns are essential tools for any restaurant’s operations, especially during the pandemic. “Right now, more than ever, people have a lot of questions,” says Johnson. “Putting answers in writing in an email can keep your loyal customers informed and is a very cost-effective way to increase booked reservations and traffic to your restaurant.” Johnson gives us her best tips and tricks for starting an email marketing program, providing engaging content, crafting effective subject lines, using images to your advantage, and leveling up with segmentation and personalization.

How to Update Your Public Relations Strategy in the Face of COVID-19

Posted by The Resy Team on Jul 30, 2020 11:00:45 AM

As the dining landscape continues to evolve with the pandemic, telling the unique story of your restaurant is more important than ever. Public relations principles can help keep your guests informed, use the right tone, reach new markets, and get creative with new revenue streams. We spoke with three hospitality PR experts for their best advice for navigating the current landscape and keeping your business top of mind for guests.

How Resy Restaurants are Navigating COVID-19

Posted by The Resy Team on Mar 21, 2020 12:56:02 PM

The restaurant industry has transformed completely in a matter of days. In the absence of crowded dining rooms, eateries across the country and world have been testing creative ways to continue doing business. We at Resy have been inspired and humbled by the many innovative ways our restaurant partners are serving their customers outside of the dining room. From cocktail delivery to virtual tastings, below is a small sample of tactics you can draw inspiration from to generate revenue at your restaurant in a socially-distanced world.

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Coronavirus: Guidance and Resources for U.K. Restaurants

Posted by The Resy Team on Mar 19, 2020 10:34:53 AM

Dear Restaurants,

We have been closely monitoring the rapidly evolving situation with regards to COVID-19. As you take measures to ensure the wellbeing of your staff and guests, and continue providing hospitality in a time of huge uncertainty, know that Resy is here to support you. These are challenging times, and we are committed to standing by you during this time of crisis. We will be presenting guidance that we have aggregated across the industry. 

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