by Rick Suttle
The fast food industry is highly competitive and dominated by large companies. Smaller businesses must be savvy in developing marketing strategies that drive consumer traffic. This entails staying in constant touch with customers. One of the best ways for smaller fast food companies to stay in touch with their companies is through marketing research. A small fast food company must know what key customers want and will buy before developing marketing and advertising strategies.
Collectibles
Fast food companies can drive traffic through collectibles, particularly those that kids enjoy. Select a movie or popular animated film. Find companies who sell dolls, glasses or other mementos that are related to the movie. Offer four or six characters or glasses. Provide one free item for the purchase a kids’ meal. This fast food marketing strategies entices people to come back until they have all the collectibles. Choose a popular theme for your collectibles that other fast food companies are not marketing.
Market Segmentation
Small fast food companies often use market segmentation as a marketing tool. Market segmentation is the process of identifying key buying groups that patronize your restaurant. This information is largely obtained through market research surveys, asking people demographic information such as age, income and household size. For example, the majority of your customers may be 18 to 24 years old and earn less than $40,000 per year. You could then locate clusters of this demographic group within a 5-mile radius of your restaurant. Obtain the addresses of these residents and mail coupons to them. You can also segment your market by various activities, attitudes and customer usage, according to NetMBA.com.
Loyalty Programs
Frequency card programs are a popular type of loyalty program for fast food restaurants. Create a display and sign-up forms to promote your frequency card program. Invite people to fill out an application. Reward people according to the frequency in which they visit your restaurant. For example, you could offer people a free drink after their first four visits, then free fries after their next four visits. Ultimately, a customer could earn a free meal after 12 visits. Keep repeating this cycle for six, eight or 10 weeks, or whichever time frame you choose.
Societal Marketing
Societal marketing includes volunteering or collecting money or items for charity. Societal or social marketing is designed more for getting ideas across than making sales, according to Lars Perner, assistant professor of clinical marketing at the University of Southern California. Consequently, consumers who relate to your ideas or values because of your charitable work may, in turn, patronize your fast food restaurant.
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17 June 2017