Monetising Mobile #2: Best Practices For Using Mobile To Drive F&B Revenues
Welcome to the second chapter of our “Monetising Mobile” blog series. In the first article, we looked at some of the tools available on the LiveStyled platform which venues & sports teams can use to activate their sponsors and capture data on customer engagement with brands.
In today’s blog, we will look at the many different implementation models which LiveStyled clients are successfully employing for mobile food & beverage (F&B) purchasing. From our experience operating in environments ranging from 300-capacity nightclubs to 60,000-seat stadia, we know that not all venues are created equal. You can’t assume that an operational framework that has worked at one venue will automatically be applicable to another, and indeed individual venues may be setup completely differently from one event to the next.
What are the benefits of mobile F&B ordering?
Before we get into the detail of how to implement a successful mobile F&B operation, you might be wondering why venues do it. After all, their bars have limited capacity and with contactless payment now being commonplace, how much faster can it possibly be? Aren’t we just moving transactions from over-the-counter to mobile? Here are a few of the key drivers:
Faster service - app queues move faster than cash & card.
Higher transaction values - when customers spend on mobile, they're less aware of parting with money.
Enhance customer experience - mobile F&B ordering saves customers time and makes them feel clever.
More orders per customer - when they know service is quick & easy, customers will place more orders.
But more importantly than any of this is this simple principle:
Driving adoption of mobile should be a business objective in itself
…due to the rich insights that it enables you to gather on customer preferences. The venues that have the most successful apps are those which instil an app-first culture throughout their business, right down to the operational, catering & security staff. Everyone needs to be aligned towards the objective of driving app uptake.
When delivered and managed correctly, F&B will enhance the mobile customer experience and be a significant contributor to the bottom line for venues and their caterers. But if done badly, it will result in poor App Store reviews and angry customers. As such it’s essential that the technology is flexible enough to adapt to the needs of the venue or event.
Now that we know why we’re doing this, let’s take a look at the pros and cons of the different implementation options.
Bear in mind that these are just the primary operational models that we’ve discovered so far. Customer expectations are constantly evolving and as their needs change, venues need to be ready to adapt.
If you would like to learn more about mobile F&B purchasing or would like to see how LiveStyled can help your venue, click here to contact us.
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