What if there was a tool that helped restaurants fill their empty tables as lockdown measures gradually ease?
Meet Savorite: an incentive marketing platform utilizing a simple, yet profitable method known as “yield management” to help bring diners back into the local dining scene.
Yield management isn’t a new concept. In fact, American Airlines pioneered this approach back in the 1960s to effectively manage their supply of seats by pricing them based on demand.
Think about it. Prices for plane tickets and hotel rooms are constantly changing depending on the demand, availability and how much time remains to sell to customers. It's a concept most people are already familiar with, but just haven't put a name to it.
Yield management has been widely accepted that, even today, some of the largest sharing companies like Airbnb and Uber have adopted a similar approach. Now, restaurants can begin to enjoy the same benefits to create pricing that works when tables are left empty!
How does it work in restaurants?
Picture this: you’re a restaurant owner and you have a few spare tables on hand that you want to fill. You open the Savorite app and create a campaign offering a select number of diners to eat at a discount. All it takes is a few taps on your smartphone and your campaign is live and available for local diners to claim in real-time. It’s that easy!
With Savorite, restaurants are in complete control of how they want to use the platform and for what hours they want to use it for. Know your dinner rush happens at 7 o’clock? Push some great campaigns a few hours before to help bring customers in during those off-peak times of the day.
For customers, Savorite aims to put an end to the question: “Where do you want to go eat?” Savorite makes it easier than ever to explore top local restaurants with opportunities to save. When a customer finds a deal they like, they place a booking right on their app and they receive an instant confirmation. With offers ranging from 10% to 50% off the total bill, tables that would have gone empty bring some new life. After all, an incentivized booking is better than no booking at all.
So why Savorite?
In today’s world, restaurants are looking for ways to bring customers back to revive their business. With so few tables allowed at a time, it’s crucial that every table made available is filled to keep restaurants cooking.
We use the value of our platform to help people rediscover their love for great dining experiences. Getting people back out and into the community allows for more meaningful experiences than what takeout and delivery can offer.
We get customers through the door so restaurants can keep doing what they do best – impress people with food straight from the kitchen and keep them coming back for more!