Leveraging Technology as a New Business Model for Restaurants
Today, and in the future, digitization is going to push industries ahead. The tech movement is inevitable. Take advantage of this time to upgrade and prioritize. Doing so will lessen the noise. In time, giving you the ability to cut right to making improvements. The restaurant industry in particular is going to feel the need to use technology to survive. Leveraging technology as a new business model for restaurants lends itself to success in the future.
During the pandemic, leveraging technology as a new business model for restaurants will be beneficial. Remember when your mother would complain about how your smart-phone took you away from reality and being in the present moment? Well, now our smart-phones are showing everyone just how much they are connecting us to one another and opening up safer ways of purchasing goods. Sorry mom.
Below are some examples of what restaurants are taking advantage of to keep their heads above boiling water. Post COVID-19, business will be far from business-as-usual. Instead, you will see a significant shift in how restaurants operate. Text more. ContactLESS.
Same Objective New Business Model
Most restaurants strive for similar objectives. Those objectives include increase margins, provide top-tier customer service, and drive total number of orders. During COVID-19, we have seen an influx in restaurants leveraging technology to either maintain their objectives or pivot. To this end, Internet of things (IoT) has made its way into kitchens.
Leveraging Technology – Payment Solutions
Before the smart-phone era, restaurants relied heavily upon conventional payment methods such as credit cards and cash. These methods are now seen as a petri dish for germs. When people return to work, it’s important to implement contactless payment methods. Having a no person-to-person transfer practice will give your customers a peace-of-mind. If you want your restaurant to survive, you to need to step up your germ-free game. Game of Clean. Let the games begin.
So, if you’re wanting to provide customers with a peace-of-mind, give them contactless options. Apple Pay and Google Pay are just a couple examples. Here’s how they work:
Apple Pay is equipped with NFC Technology. In 2015, a liability shift took place that took transactions to a more secure level. In this shift, magnetic strip credit cards became less popular and NFC (near field communication) became the new kid on the block. To make a payment with Apple Pay, just wait for the light on the payment reader to light up and hold your phone up to the reader. There’s no exchange of dirty money and no hand touching. If Apple Play is something you want to consider, you will need to invest in the reader.
Side Note: With NFC payments, your information is more secure, encrypted on your phone. The merchant receives a one time payment credit card number, that’s never your actual credit card number. Because of this, if there’s ever a breach, your information will not be visible. If by chance your credit card (magnetic strip) card is used and the merchant doesn’t accept NFC payments, the merchant can be held liable instead of the credit-card company.
“I want technology to enhance the guest experience. Its role
is to strip away barriers and make the experience better.” – James Freeman, Blue Bottle Coffee
Take the effort out of checkout with Google Pay.(GPay) This contactless pay is free to user and receiver. You can also send and receive money from friends and family members, so this tends to become popular around the holidays. To use this option, you need to download the app in the app store. Add your card info and boom, just like that, you’re setup to make a purchase. For business’s, you can integrate and implement in a week. Your customer can pick any method within their Google Pay account and checkout.
GPay provides enhanced security and there is no fee associated with its use. As a business, it’s attractive to have added security with quick and easy checkout, especially when it comes to conversion and retention of customers.
“Contactless transactions are faster than both cash and conventional card transactions. A huge advantage for businesses: higher customer satisfaction, shorter lines, and even less personal needed at peak times.” Merchant Services LTD.
Additionally, overnight, you’ve seen an entirely different way restaurants are providing their services. The reality is, if you can’t utilize technology, you will not be able to survive the pandemic. Not only during a pandemic, but as times change and society shifts to using more technology, restaurants will need to obtain the right technology to keep their FOH and BOH running smoothly. Not only the right technology, but also the right staff to manage the implementation and ease.
Equally important, moving forward you will want to still maintain a high level of cleanliness. In between uses, wipe down the app devices. Hold your restaurant to high standards and you won’t lose customers, you will gain them.
Leverage Technology During These Times
Providing contactless payments are not just in support of stopping the spread of germs that lead to COVID-19, but it’s also a more secure, faster, and easier way of making and completing transactions. It’s time to square up and begin embracing the age of technology to improve your restaurants productivity and safety. Be proactive to be ready for the future. Leveraging technology as a new business model for restaurants will allow you to learn what your customers want. Don’t be afraid to pivot your revenue streams. Embrace change. Invest in the future.