In this episode, I tell Sears’ innovative origin story, the pivotal moment that caused its demise, and the lessons for restaurateurs.
3 Top Takeaways
- Innovate or die. To illustrate this, I draw a parallel between Sears and Amazon. Sears was in ‘maintenance mode’ whereas Amazon was in ‘innovation mode.’ With the full adoption of digital from other industries, and the dawn of direct-to-consumer technologies, restaurants can accelerate their growth by going into ‘innovation mode.’
- Direct-to-consumer technology makes it accessible for smaller players to do what the bigger players are doing. For example, omni-channel advertising campaigns in your local market, selling products anywhere in the world, marketing attribution (so you know what’s working and what isn’t), etc.
- What used to win was big and loud (i.e. billboards, television). What wins today is small, personal, fast, and nimble (i.e. omni-channel advertising that you can measure, SMS marketing, etc.).
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Original Post: https://guestgetter.co/a-crossroad-for-bars-restaurants/