Restaurant Monitor

Although businesses accept the basic premise that it's better to have satisfied customers, CFI Group's research confirms that most underestimate the relationship, and therefore do not dedicate sufficient resources to enhancing the customer experience.

Although businesses accept the basic premise that it's better to have satisfied customers, CFI Group's research confirms that most underestimate the relationship, and therefore do not dedicate sufficient resources to enhancing the customer experience. Adding to the problem is that most restaurants go about trying to improve satisfaction blindly without knowing which elements of the dining experience to leverage in order to generate the biggest "bang for the buck."

Unfortunately, the restaurant business has never been more challenging. Competition is increasing as people dine out less frequently. And among those who do dine out, they spend less and are more "deal" conscious in general. For a restaurant to increase profits in this climate, it must do one or more of the following:

• Increase customer traffic
• Increase (or at least maintain) current pricing levels
• Reduce operating costs