It’s fast marketing more than fast food that is limiting the full potential of MROI in the restaurant sector today. A focus on short-term franchise results, largely through product-focused communications and promotions, is coming at the expense of true brand growth and long-term value.
Fortunately, more advanced marketers are looking to analytics to try to break this mold. They’re asking strategic questions such as:
- How can I leverage national efficiencies to make new footprint addition more efficient?
- How can I integrate brand and consumer metrics into my analytical models to help rationalize investments?
- And, how can I deepen customer relationships and permit more expansive models of product innovation?
Although it is important to manage the short term and address corporate, investor and franchisee stakeholders, the process cannot be done at the expense of long-term returns. Instead, a holistic model is needed to help understand and quantify this trade-off.
It’s not necessarily an easy path. For example, stakeholders are often skeptical of the role of brand media, believing that product is paramount. With a common organizational bias to local efforts (vs the national good), creating a business case for change is not easy—selling it through is even harder.
Marketscience's solutions are designed to help marketers better navigate both internal and external challenges. With advanced analytics and a unique approach to facilitating buy-in, we give restaurant marketers a competitive edge that serves immediate goals and the long term.