Government imposed lockdowns that followed the covid’19 outbreak, placed strict restrictions against mass gatherings, which has hit the global food industry pretty hard.
It has been predicted that an alarming 30 percent of restaurants and food services are likely to go out of business once the lockdown is lifted and the pandemic finally ends. In the meanwhile, how can one save your food business from suffering the predicted consequence?
Here are a few tips that can surely help you market food during the pandemic.
Maintain your online presence:
While the present situation looks pretty bleak, the food industry like all other businesses have to prepare themselves for the post pandemic phase.
You need to make sure that your restaurant or your food business is remembered by the masses so that they choose to get their food from you once they decide to dine out.
All you need to do is keep your audience engaged. First step involves checking to see if you are set up with Google My Business? If not, you are missing out on a premium opportunity to connect with your customers through Google Search and Maps.
Secondly, share updates with your customers using the various social media platforms. Keep posting about the offers you have put up, the various precautions you are taking in light of the Covid’19 outbreak, your operational hours, and special menus and so on.
The more active your online presence is, the less likely is your business to suffer from the pandemic brought wrath.
Manage your cash balance:
Since the recession which is likely to follow the global corona issue, is going to bring financial constraints for most businesses, the food industry needs to smartly manage its cash flow.
You need to have enough cash on hand in order to support your corporate operations and manage your franchise. It is therefore essential for these organisations to limit their cash burn rate by postponing operations that are not so important.
These include limiting costs for remodelling of their franchises, new build outs, or making other sorts of royalty payments. KFC set a pretty impressive standard by delaying all its royalty payments for 60 days in all its franchises.
Once you reduce your cash burn rate, you can utilise your cash balance to partner with key suppliers and thereby ensure that in the long run your business remains predominantly unaffected by the pandemic. Make your investments smartly by keeping in view a predicted post-pandemic scenario.
Promote use of Gift Cards on takeaways or deliveries:
Your motive at hand is to ensure that you raise enough capital that can help you smoothly navigate your business through the pandemic.
Encouraging clients to buy gift cards for themselves, for their family and friends or even for the less privileged workers can help you raise instant money.
Putting discounts or using gift cards as add-ons to the meals that are delivered can be a good way to promote their use. They also ensure that your clients will keep coming back to your restaurant and stay in touch with you, thereby increasing your visibility.
Saving your food business requires smart and intelligent marketing on your part. You need to make sure that your business’s name reaches the masses, while they sit at home and wait for the lockdown to ease.