BIGGEST TAKEAWAYS: QSR Evolution Conference 2024

The QSR Evolution Conference just concluded in Atlanta, GA. Their description: "The QSR Evolution Conference is the only event that focuses solely on the needs of quick-service restaurant operators. At this unique event, attendees will hear and share perspectives on running the quick-service restaurant of the future. Topics covered during this event include:

Fast Casual Growth, Startup to Sustainability
Growth and Franchising
Labor, Leadership, and a Changing Consumer
Technology, Drive-Thru, and an Omnichannel World"

This event was a 3-in-1 as it was paired with the NextGen Restaurant Summit and Pizza Power Forum. There was A LOT to learn.

KEY TAKEAWAYS:

1. WHAT TO DO WITH SOCIAL MEDIA

How are the biggest and best brands using social media? I hosted a panel of some of the best and smartest marketing leaders in the business, and here is what they shared.

Use paid awareness ads on Facebook & Instagram to help get local awareness (top of funnel)
Which social channels should you prioritize? Whichever one your targets guests are using.
Outsource. Every single brand on the panel is outsourcing some part of social media. If you don't have the ability to handle creation, management, or ads in-house, get help.
Influencer marketing. Working with content creators to share your story and food with others is a move that works.
There is a HUGE difference between brand marketing and sales marketing. Invest in both and know when to focus on each.

2. DON'T GHOST ON VIRTUAL BRANDS

Virtual brands and ghost kitchens are not a great avenue for a leading strategy. However, it is a great way to test concepts and menus, especially for full-service brands.

3. NORTH STAR METRICS

What are your top north star metrics as a CMO? I had the chance to ask this to Lindsay Radkoski, CMO from Wendy's, and here is what she shared:

Brand relevance - "awareness is not enough"
Local / store-level metrics
Satisfaction scores
Frequency

I'd add CRM Growth (how many guest email addresses did you collect?)

What can you take away from this?

Spend effort and budget on top of the funnel (I use awareness ads on Meta with help from Targetable)
Ask every guest for feedback, analyze it, and use it to improve (I use Ovation)
Understand what makes a guest go from a 2nd to a 3rd visit and incentivize a fulfillment or habit switch. Examples: dinner to lunch, in-store to online, different entrees, etc. (I use Bikky)

4. VALUE

It's a top conversation in the industry. Why? Because that's what guests are looking for and a key driver in dining decisions.

This does not mean you have to run discounts and promos, although they are worth using in the right way, but the thing to think about is how can you create value in your menu with smaller items, bundles, combos and meals.

Example: Dunkin Snack Wraps.

From a personal anecdote, I can tell you the #1 driver of both new and recurring sales at my restaurant, Handcraft Burgers and Brew is a $5 smashed cheeseburger. Which in Times Square / Bryant Park NYC is a freaking deal.

We introduced combos in August and it immediately has become our #1 most ordered item, outpacing our fresh-cut fries.

5. ORDER ACCURACY

The number one thing that guests care about is order accuracy. The number one problem restaurants have is order accuracy. The highest order accuracy in the business is Chick-fil-A average unit value is 9.3 million.

Maybe worth focusing on it yourself!!

6. LOYALTY MOVES THAT MATTER

How are the biggest and best brands using their rewards program effectively? I hosted a panel of some of the best and smartest marketing leaders in the business, and here is some of what was shared:

Customer Life Time Value
Conversion to 3rd purchase (activation rate)
Business Incrementality
Profitability of program
Learning about customer behaviors that can be used to increase frequency of non-loyalty customers

Hard props to both Olivia Ross and Zachary Goldstein for helping choose a top 5!