Whether you operate a nightclub, a bar, or an event center, each of those business models can improve their profitability greatly by implementing the right systems and tools. When everything is put in place correctly and you have the right tools at your disposal to operate your business, you can build a more loyal customer base and watch your profits rise. Here are 5 tools that every club needs to maximize their revenues.
A CRM System (Customer Relationship Management)
Though taking the “Cheers” approach and knowing everyone’s name that frequents your bar is a great way to get things started, this approach isn’t really practical unless you run a corner dive in a very small town. By implementing a CRM system, you can get an instant snapshot of how often a particular patron comes to your club, how much they spend, and what they like to drink. This can help your bartenders to upsell a customer drinks and food that are specifically catered to their taste.
If you have bands or other types of entertainment at your bar or nightclub, and most of you do, then you should absolutely be offering advanced ticket sales. It’s 2015 so this should be common sense, but there are still plenty of bars that require you to purchase tickets at the door. This is like a pizza joint not accepting online orders; it’s just plain business suicide.
Reservation Management Systems
The days of using a pen and paper to keep track of your table reservations should be considered a thing of the past. Your customers want to be able to reserve a table online and cancel it online if their plans change. Also, you can have each reservation assigned to a specific table and have availability disappear when you’re booked up to avoid any conflicts with your reservation process.
General Admission Tracker
Most club owners fixate on their VIP and promotion sales because they use that as a tool to see how busy their club was on a particular night. However, if you’re doing this at the expense of tracking your general admissions, you’re making a huge mistake. You absolutely need to know how many people came and went from your club each night and how many were males and females. This will allow you to better target your promotions and also better understand your target audience.
An Analytics System
We all know that data is important to get a pulse on how your venue is doing, but the trouble is that gathering the best types of data can seem to be a daunting task. This can lead to owners and their manager making poor decisions blindly instead of leveraging their data to make more profits. By implementing a great analytics system, you’ll be able to see a snapshot of your customers, servers, and bartenders while also being able to dig deep into the numbers to find trends and problem areas that you need to address.
Though there’s more to being successful than just implementing a few tools, they can certainly help you get the big picture of what’s happening in your nightclub, bar, or event center and make better choices. By using these 5 tools to maximize your revenues, your club can continue to increase its revenue stream for years to come.