RESTAURANT STRATEGY

Fourth Marketing Pillar - DIFFERENTIATION We're starting to turn the corner now as we come to the fourth episode in a 5-show arc. We've been breaking down the Five Pillars of Marketing as a way of giving ourselves a strong foundation to work upon. Because before we can begin building a true marketing strategy for your business, we first have to understand the business we're in. What's our product and who is it for? Today we're discussing the Fourth Marketing Pillar which is DIFFERENTIATION. This is all about finding ways to separate ourselves from the competition, being able to articulate exactly how we're different from the rest of the competition. It is the key to success for any business. As always this episode ends with a short assignment. If you want to download the Marketing Pillars Workbook you can do that by CLICKING HERE. Gramercy Tavern Gramercy Tavern Website - https://www.gramercytavern.com 1994 NY Times Review by Ruth Reichl - https://www.nytimes.com/1994/10/14/arts/restaurants-527327.html 2007 NY Times Review by Frank Bruni - https://www.nytimes.com/2007/06/06/dining/reviews/06rest.html 2016 NY Times Review by Pete Wells - https://www.nytimes.com/2016/08/17/dining/gramercy-tavern-review.html CONTINUING EDUCATION: This week I'm linking to an episode of the podcast HOW I BUILT THIS, where Guy Raz sits down with Jennifer Hyman (founder of Rent the Runway). There are some key insights they stumble upon here, apropos to the conversation we're having this week about identifying your audience, figuring out who else is trying to serve that audience, and then finding ways to separate yourself from the competition. LISTEN HERE

Fifth Marketing Pillar - OPPORTUNITIES We've finally made it. We are at the end of this little five episode arc where we've been discussing the Five Pillars of Marketing. We started with IDENTITY, finding ways to talk about the product. Then we identified our AUDIENCE, or ICA. We figured out who they were and what their pain points were. We're figuring out what problems they have that we might be able to solve. Next we discussed ways to identify our COMPETITION, and then in the last episode we talked about DIFFERENTIATION... figuring our ways to separate ourselves from the competition. Finally today we're talking all about OPPORTUNITIES. What exactly do I mean by Opportunities? Everything about your restaurant... from the location, decor, music, staff, menus, signage, website, etc... everything is an opportunity for you to communicate something to your potential customers. So today's episode is about figuring out all the different channels available to you... all the ways you might be able to tell your story to the people that matter: your customers! We've put together a workbook if you'd like, a place to keep all your assignments together. If you want to download the Marketing Pillars Workbook you can do that by CLICKING HERE. CONTINUING EDUCATION: This week I'm linking to Daniel Pink's book, TO SELL IS HUMAN. BUY THE BOOK

Third Marketing Pillar - Competition Welcome to the third in a 5-episode arc where we're talking about the Five Pillars of Marketing. Before we can begin building a comprehensive marketing strategy for your business, we first have to understand your business. These five episodes are a version of an exercise I do with my consulting clients. They're assignments, really, that help us begin to understand what the product is and who it's for. Today we're discussing the Third Marketing Pillar which is COMPETITION. In the last episode we identified our Target Audience (our ICA), and this week it's about identifying other businesses that are also serving that same Audience. If marketing is about solving problems, then who else out there is trying to solve the same problem we are. Once we understand who our competition is, we can start to separate ourselves in the eyes of the consumer. But we're getting ahead of ourselves... because that's what the next episode is all about. As always this episode ends with a short assignment. If you want to download the Marketing Pillars Workbook you can do that by CLICKING HERE. CONTINUING EDUCATION: This week I'm linking to a recent episode of the Project Distinct Podcast with Scott McKain. Short and sweet (like 8 minutes), but packed with some valuable insights... it's all about the difference between being DISTINCT and ICONIC. LISTEN HERE

Second Marketing Pillar - AUDIENCE Welcome to the second in a 5-episode arc where we're talking about the Five Pillars of Marketing. This is our opportunity to give ourselves a strong foundation before we begin building a complex marketing strategy. These five episodes are a version of an exercise I do with my consulting clients. They are a series of questions... assignments, really... that help us begin to understand what the product is and who it's for. Today we're discussing the Second Marketing Pillar which is AUDIENCE. It's all about figuring out who your restaurant is for. This week we're going to identify your Ideal Customer Avatar (ICA), and learn how to use that to attract more customers. If you want to download the Marketing Pillars Workbook you can do that by CLICKING HERE. CONTINUING EDUCATION: This week I'm linking to an article written by Justin Bariso that first appeared in Inc.com. It's all about the different types of empathy, and ways to cultivate it in your personal and professional life. It ties back in directly to what we're discussing here, and will factor in heavily to our work in the future. CLICK HERE TO READ THE ARTICLE

First Marketing Pillar - IDENTITY This is the first episode in a 5-episode arc where we're talking about something I call the Five Pillars of Marketing. Before we can begin talking about building a marketing strategy, we first have to give ourselves a strong foundation. These five episodes are a version of an exercise I do with my consulting clients. It's the best way I know to get all of us on the same page. They are a series of questions... assignments, really... that help us begin to understand what the product is and who it's for. The First Pillar is IDENTITY, and it's all about articulating exactly what your product is. It's a restaurant, so yes you serve food... but that isn't necessarily what you're selling. I walk you through a series of different categories that help you bring some specificity to your work. It's all about understanding exactly what kind of experience you're offering your guest. If all we wanted out of a restaurant was food then there'd be no need for sports bars or date spots... In a sports bar you're there for the camaraderie, the energy. At a date spot, you're there for the romance. I challenge you to start thinking about your business in those terms. Yes, you serve food, but really... what kind of experience are you selling. If you want to download the Marketing Pillars Workbook you can do that by CLICKING HERE. CONTINUING EDUCATION: This week I'm linking to a 2005 TED Talk by Psychologist Barry Schwartz titled “The Paradox of Choice." It’s a lecture I discovered years ago -- long before I started working in marketing -- but I recently went back and realized how timely it was. It's a riff on his book by the same name, and especially these days when we’re offered so many different choices, I think it's important to think about the cost. Watch the lecture (only 20 minutes); I think you’ll find it has a lot to do with our work here.  CLICK HERE TO WATCH THE VIDEO

EPISODE #1: What is Marketing? ** Download the 3-Step Marketing Worksheet HERE ** Since this is a podcast all about marketing, I thought we would start off by first agreeing on a definition for marketing. And so that's what this episode is all about... articulating a clear way to talk about a subject that people tend to overcomplicate. For me it's not about fancy jargon or academic explanations. It's simpler than that. And so I'm sharing my approach. What is Marketing?  I can sum it up in three questions... What's your product? Who's it for? How can you reach them? In this, the very first episode of Restaurant Strategy, we start building a foundation for the rest of the work we'll do. I know many of you out there are small business owners, putting in countless hours trying to build a profitable restaurant. And so you have limited time. I get it! So do I. Each episode is purposefully short and ends with a short exercise - something you can do right away to start implementing the ideas we talk about here on the show. QUESTIONS? E-mail me directly at chip@chipklose.com ** Download the 3-Step Marketing Worksheet HERE ** CONTINUING EDUCATION: Purple Cow by Seth Godin