Profitability and pricing strategies
Data-driven plans for recovery and profit
We’ve supported the restaurant industry for more than 25 years and have never seen a time of such great flux. The path forward is blurred with uncertainty, but RMS is ready to help navigate this unknown landscape and create a data-driven plan for recovery and profit.
Data-driven pricing strategies that serve profits? We have them.
Value-based pricing
Tailored pricing is possible — even now
It can be hard to keep up, much less create a plan when so much is changing so fast. But you can — when you have data to drive you. Using your transactional customer data and our expert insights, RMS establishes pricing based on your customers’ appetite — whether dine-in, takeout, drive-thru or delivery — along with shifting perceptions of value due to a fluctuating economy.
These are challenging times for the restaurant industry. With a pricing strategy using data specific to your individual locations and customer segments, RMS can create an actionable plan to increase profitability.
Unique pricing strategies that work. RMS is here to help.
Hours of operation analysis
Perfect timing is possible — your data will tell you
Individual market differences have never been more pronounced. So why synchronize hours of operation? Using RMS’ patented analysis of your POS data combined with market research, we identify how communities are managing the pandemic and what your customers want in each location, region and day part. Using these insights, you can then calibrate hours of operation to best optimize labor and increase profitability — for each store.
Establish optimal hours of operation. RMS is here to help.
Customer segmentation
Data makes it personal
Every customer is different. Why should your approach be the same? Your POS data does more than track sales.
We use these data-driven pictures , paired with a deep understanding of your brand, to gain valuable insights into how customers will respond to the changes you need to make — whether it is menu revisions, pricing changes or discount offers — and what actions will drive frequency and increase average spend per location.
Get to know your customers even better. RMS is here to help.
Competitor insights
The restaurant landscape has changed. How have you?
Your customers don’t exist in a vacuum. Neither should your pricing strategies. We’re all trying to keep up with the rapid pace in the restaurant industry — your customers, your competitors and you.
At RMS, we analyze your transactional data and compare it to your competitors’ restaurant menus and pricing. We then deliver a complete understanding of your customers’ actual purchasing behavior, keeping in mind what they see out in the market.
Be better than the competition. RMS is here to help.
