that you can control. Using a pipeline to manage all your leads will streamline your sales process and, if utilized properly, will ultimately lead to more closed deals – #WINNING! 14 Sales Strategies to Increase Sales and Revenue 1) People Buy Benefits. You are fully equipped to offer a variety of food options to increase your f&b revenue. What happens if you don’t have any meeting space or the planner requires on-site food and beverage? This type of plan is similar to an annual/weekly sales plan, but it focuses … Work smarter, not harder. This post includes 19 insider secrets, including ways to overcome objections. Work smarter, not harder. It's just as important to be able to listen intently, think critically, and to intelligently apply effective sales techniques. When you hear chefs throwing around phrases like “amuse-bouche,” “julienne-style,” and “unleavened,” it can feel like the food world has its own language. This also helps customers who may be scrambling to find a venue for their annual corporate event or holiday party. According to sales and marketing professionals from LeadBridge Partners, the best sales prospects are those you have already transformed into existing customers rather than a total stranger. However big the private events industry may seem, it’s actually a pretty small world. If you haven't made plans to offer these services yet, here are some tips: 1. I am being given carte blanche do whatever is needed hospitality standpoint to get the job done. Gathering leads that are outside of your property’s capabilities, can take away precious time from other opportunities that would be the perfect fit for your business. Working with other departments such as housekeeping, food and beverage management and catering, banquet managers are expected to collaborate to make an event successful and increase sales. As a result, you will see an increase in impressions for qualified queries, more clicks to your website, and, ultimately, revenue growth from your increase in sales inquiries. The following 10 ideas can help you to increase sales and control costs: 1. It enables you to sell your products or services over and again successfully. The first option is great if your property can handle the volume. But how do you ensure you’re getting the right leads to your inbox? Increase Your Catering Sales How to increase your catering sales. If you’re a restaurant, include examples of your special event menus on your website. 1. When it comes to closing a sale, it's not all about smooth-talking your buyer. 5 WAYS TO INCREASE YOUR HOTEL BANQUET SALES, Once you’ve developed a system to filter out unqualified leads, you need a way to manage those leads. “While we don’t have an exclusive catering option or menu, we do have a preferred catering list,” says Russell. These symptoms will be potential indices, which can be used to aid understanding and interpretation. – Offer packaged meals like sandwiches and salads as options for lunch break. Getting guest feedback, taking advantage of social media, and asking for online reviews can help spread the word about your business. How to increase your hotel’s occupancy rate. “At Upstairs Atlanta, we believe in going the extra mile for our clients,” says Russell. So I figure I will see if anyone on here has any tips or tricks that they have used in the past that have worked out well. How to Increase Sales through Your Google My Business Listing “Our marketing is the driving force for leads, which we then convert leads to sales,” says Russell. In-house food and beverage typically represents approximately 25% of total revenue and has an average profit margin of approximately 29% . But for hotels that already struggle to provide the supply for demand, the second option is the better bet. Keep employees happy and encourage them to be salesmen. Traditional selling tactics may work not as well as before, so we’ve added new recommendations to help increase your retail sales. If you’re a restaurant, include examples of your special event menus on your website. Especially for higher-tier hotels, F&B sales are a significant revenue driver. You don’t need this unnecessary noise. We have received many referrals from those that have previously had events at Upstairs Atlanta as well as from special event vendors and industry insiders!”. In … We know this is a tough time for retailers, so we hope you find these tips useful. Increase Prices (Slightly) Increasing menu prices is a logical way to increase restaurant sales – if done right. Each stage should represent a different step in the buyer’s journey. 9. Everyone likes to feel special, so what’s something creative you can offer your clients that will encourage them to have their banquet in your space? 6. Another type of sales plan you’ll see a lot is an individual sales plan for specific sales tactics, such as prescribed call sequences, email follow-up frequency, and meeting appointments. 3. This is … Learn how to increase sales and turn your business into the ultimate sales machine that leverages the right mix of customer service and technology. If you work with outside caterers or have a preferred caterers list, consider linking to their menus or sites so they can get a feel for those offerings as well. “Just as we have with the sales side,” explains Russell, “Upstairs Atlanta has placed an emphasis on the operations side to deliver a stellar customer service experience while making sure that our venue exceeds the clients’ expectations.”. Give your guests the convenience they expect by providing the ability to … In 2017, catering and banquet revenue made up: 57% of F&B revenue at luxury hotels; 59% of F&B revenue at upper-upscale properties; 58% of F&B revenue at upscale hotels Find Your Audience. If you wish to assume the role of event planner, you can increase the profit on each event with add-on sales. Investing in A/V equipment can seem like an unnecessary expenditure but, if you have the budget, it offers a great opportunity to increase your event revenue. One way to find better turn catering leads into sales is to be more specific in your eRFP form. Your hotel will now be able to accept credit cards at a banquet event. Over the same period, in-room dining revenue per occupied room declined 3.8%. So I figure I will see if anyone on here has any tips or tricks that they have used in the past that have worked out well. You’re also there to tend to your client’s needs to ensure their event goes off without a hitch. Use of flowers, interesting table settings, a welcoming entrance at the front door and tasteful holiday decorations can all distinguish your hotel.�� 4.�Insure great food presentations. VIP Ticket Sales. A simple review of your sales pipeline will give you an indication of your sales health, your areas of opportunity, and your overall profitability and growth as a hotel. Increasing your hotel banquet sales starts with acquiring highly qualified leads. Click here to log in to Gather. With search results becoming more robust and interactive, your Google Business Profile (which is a completely free listing) is more important than ever for reaching new customers on Google. “Upstairs Atlanta has a lot of character and personality with its Edison bulbs, exposed brick walls, and signature cement bar top,” says Russell. We have received many referrals from those that have previously had events at Upstairs Atlanta as well as from special event vendors and industry insiders!”, The easier it is for someone to book an event at your venue, the more likely you are to close the deal. Most loyal fans will understand and want to support the event. Take advantage of these professional relationships and ask for business referrals from both vendors you trust and happy clients through email or in person. This doesn’t mean that as a limited service hotel you can’t add food and beverage options for meetings and events at your hotel. Don’t rely solely on this method — a 100% price increase is hard to swallow — but a 25% increase might not dampen demand. Banquets can be an area of high profit. Increase group sales by booking more events. Editor’s note: COVID-19 has dramatically changed the retail landscape. People don’t buy products, they buy the results that product will give. Increase your activity and measure the results. Banquets can be an area of high profit. Unless you’ve been living under a rock, you likely already know that people find out about your business online, largely via google search or social media. There are a […], Have dreams of being your own boss? No private event space is the same, so take the time to let your customers know what you can offer them that others can’t. Analysis on Sales Increase and Sales Decrease A short analysis is made on sales increase and sales decrease. After launching fan friendly pricing, the Atlanta Falcons saw a 16% increase in F&B revenue and ranked among the NFL’s top three in overall game-day experience rankings. The Treasure Room has candle votives, vases, and other decor props that our clients can use free of charge.”. Here are a few tips and tricks to strengthen the quality of your prospective clients. I am being given carte blanche do whatever is needed hospitality standpoint to get the job done. The sales cycle stages can be as short as a few minutes or last as long as a couple months, but in general, every sales cycle follows a form of the seven stages above. How to Increase Banquet Revenue To maximize your banquet revenues, you need to not only bring new business in the door, but to get customers to spend more once they decide to hire you. 21. 3) Sales team : Another way to increase sales is to motivate the Sales team. If your competition is serving the same dish with a similar service at a lower price, then your sales are going to see a drop. A qualified lead for hotel banquet sales is typically a prospect whose event needs, budget, size, and timing all are possible at your property. Increase Your Catering Sales How to increase your catering sales. Getting, , taking advantage of social media, and asking for online reviews can help spread the word about your business. Take advantage of these professional relationships and ask for business referrals from both vendors you trust and happy clients through email or in person. And you’re not wrong! Marketed banquet event space via social media, mailings, cold calls, emails, networking, and references resulting in an increase in client acquisitions and a 25% increase in sales Oversaw the execution of events and banquets valued at over a million dollars per year Whether your private event space offers food in-house or you work with caterers, make sure to mention that to your customers. You have to be well trained in how to build rapport, become a trusted advisor as well as a product knowledge specialist. – Provide a local dining experience. We’ve looked at some common issues or roadblocks a hotel may face and come up with solutions that will ensure you lock in the booking and increase the event revenue. Article - How to Optimize Your Hotel Sales Strategy for More Group Business - 100+ months of continuous RevPAR growth has the hotel industry riding an … These are easy to store, they don’t require any restaurant equipment to execute, and typically are priced to fit into any planners budget. This is applicable especially in case of B2B sales where the salesperson is the influencer for buying behavior. In the U.S., 50-70% of people report regular alcohol consumption. Write down the activity goals (calls per day, proposals per month, referrals per call, etc.) First, make sure that your page is targeting a relevant topic for which you can compete. Learning and practicing the sales cycle and refining your technique will help you increase sales and grow your business. . If your hotel has a reasonable amount of meeting space (+10,000 ft.) and your banquet business is a significant contributor in your Food and Beverage Department (+20 per centÊof F&B revenue), you are going to want to separate local banquet business from group banquet business on all of your financial statements, forecasts, budgets and daily reporting. At the end of the day, this means more money to invest in your people and your product. We recommend having a wide range of. You’re going to be dealing with a variety of budgets and it’s important that you have food and beverage options that work for a meeting or event of any size. If you’re looking to grow your events business, we’re here to help. It’s more convenient for a planner to rent equipment from the property rather than borrow or lease from a third party. Virgin. Source: Groove And since product recommendations can drive between 10-30% of revenue, putting the right upsell offersin front of people at the right time is an important sales growth tactic.. Event organisers can increase their revenue by introducing tiered ticket prices, offering attendees additional benefits. In-house food and beverage typically represents approximately 25% of total revenue and has an average profit margin of approximately 29%. – Offer creative meal options like meal stations, snacks, and ‘build your own’ bars. As pressure builds on event venue marketing teams to meet strict sales targets, cutting edge marketing strategies and long term objectives become less of a priority. These simple yet impactful techniques can assist you in securing more banquet sales at your hotel and increase the total bill. Increase Sales With Less Effort . But too often they are seen more as a necessary evil than an opportunity to improve. Go Mobile. But whether business is slacking or steady, there’s always room for improvement. Lisa McQuerrey has been a business writer since 1987. With these numbers, it only makes sense to leverage your food and beverage service to increase your hotel banquet sales. HVS: Five Ways to Increase Your Sales and Marketing Momentum in 2008 ; Writer Bio. In addition, on-site promotional offers can be implemented at short notice, helping to generate additional income as required. The good news is there’s room for creativity when coming up with ideas to secure an RFP. But attracting new customers is not the only way to increase your sales. Whether you have past experience in the events industry or you just want to tap into your entrepreneurial side, then the thought of […], A well-made cocktail can be the cherry on top of a great event — something people enjoy and remember. Copy this example: You can keep it just as simple as Urban Southern did. to measure your progress, and track them closely. You’re also there to tend to your client’s needs to ensure their event goes off without a hitch. Here are a couple of ideas that are easy to implement: – Have a menu with a variety of options for planners to choose from. Offer items that are easy to order from a supplier and don’t require any kitchen equipment. However, you … Your employees are your most important assets. And while the list of popular libations is ever-evolving and growing, […], When you’re in the events industry, you’re probably often working long hours trying to pull off amazing events for your clients. In today’s world, hotel’s need to find a way to cater to everyone’s dietary needs without breaking the bank. “Our preferred catering list includes some great special events catering companies and awesome Atlanta-based restaurants. In-house food and beverage typically represents approximately 25% of total revenue and has an, average profit margin of approximately 29%. Start your process of identifying your ideal customer by making a list of all of the benefits that your customer will enjoy by using your product or service. They are also asking me to improve banquet sales by a large percentage as well, as well as raise the bar on the banquet clientele. “We’re represented on many event venue websites, and we have a strong social media presence where we interact with prospective clients. To truly increase sales, look to yourself and reduce your anxiety so you can be positive, hard working, and able to find ways to stay motivated. Thus, owners and managers of these venues often have an easier time than nontraditional spaces when it comes to getting people through their doors. You can also make a panicked planner’s day by providing them with a chord they left at home. “Yet, it’s still enough of a blank canvas to allow any client’s vision to be brought to life. In fact, 71.67% of buyers start their purchasing journey with a google search (The State of Demand Generation 2013, Pardot). Once you’ve developed a system to filter out unqualified leads, you need a way to manage those leads. Whether your private event space offers food in-house or you work with caterers, make sure to mention that to your customers. How to Increase Banquet Revenue. By doing these things, not only will your personal sales increase - your business's will as well. Boost sales for your small business now! Off-premise catering is another area of the restaurant industry that continues to grow. A sales strategy is a plan by an individual or a company to sell products or services to generate and increase revenue. Win – Win. Unless you’ve been living under a rock, you likely already know that people find out about your business online, largely via google search or social media. “Our strategy for booking repeat clients is fairly simple — it’s to provide such a phenomenal level of service that clients have no desire to go elsewhere,” says Russell. A 400% increase in sales. – Have information readily available for planners on your website and social media. This ability has allowed Upstairs Atlanta to serve as a venue for all types of events, a benefit that a lot of venues don’t have.”. This is one of the most important ways to get people through the doors and increase your banquet sales. In fact, 71.67% of buyers start their purchasing journey with a google search (The State of … Find the advice you need to skillfully increase your sales by reading our blog on how to upsell in your restaurant. You need to review and … Their secret? Research shows that 78% of companies book with the first company that responds to them. Sales, contracting and execution of Banquet Events Schedule staff for Banquet Events Sells events to meet or achieve budgeted banquet goals Bachelor's Degree or equivalent experience Two (2) years prior banquet sales experience Ability to spend extended periods of … There are many different ways to increase your average banquet check at your property. They’re more likely to grab something right in front of them rather than leave the premises in search of a cafe. By providing A/V equipment, it’s one less thing they have to remember plus they have on-site staff to help with any technical difficulties. You can even offer them an incentive, like a free bottle of Champagne or a small discount. Here are some practical ways to help you achieve your goals. There are many reasons people might plan a banquet, such as award dinners, work functions and wedding receptions. Whether you’re a. or a full service hotel, there are different strategies that you can implement to secure more banquet business and increase your total sales. “Our marketing is the driving force for leads, which we then convert leads to sales,” says Russell. Once you’ve received a potential lead or an RFP – reach out to your contact as soon as possible. 1. In order to effectively manage your sales, you need to have a formally defined sales process which will be reflected in the stages of your pipeline. Upstairs Atlanta hosts many diverse events, therefore it is important that our preferred catering list represents a variety of cuisine to cover the multitude of palettes that our clients have.”, As an events industry pro, you’re not just in the business of managing stellar events. Then offer additional choices and package upgrades such as ice carvings, flowers, upgraded linens and a chocolate fountain. A closed-loop cashless payment system has proven to increase on-site guest spending by 15-30% at fully cashless events, compared to traditional forms of payment. Effective revenue management strategies for hotels. One effective way to increase restaurant sales is by incorporating menu trends into your offerings. You can even offer them an incentive, like a free bottle of Champagne or a small discount. This will allow you to get a better understanding of the clients needs without the pain of going back and forth on email and having some sort of miscommunication during the correspondence. Pete Williams offers ice carvings, flowers, upgraded linen and rental of a chocolate fountain. When it comes to generating catering sales leads, are you a hunter or farmer? One of the most effective strategies for lead management is a pipeline management tool. All that it needs is power. If you’re a full-service hotel, you have an in-house food and beverage team. Get your Venue Space Photographed Professionally. Cater to your regulars and attract new customers by offering banquet services for meetings and special occasions. Plus, we chat with Russell Simon, sales director at Upstairs Atlanta, about the methods his business uses to increase banquet sales. Maximize Your Table Turnover Rate. Everyone likes to feel special, so what’s something creative you can offer your clients that will encourage them to have their banquet in your space? The Treasure Room has candle votives, vases, and other decor props that our clients can use free of charge.”, However big the private events industry may seem, it’s actually a pretty small world. Not only do meal options provide flexibility for planners who may not know everyone’s dietary preferences, it also allows alleviates stress for planners hosting ticketed events who may not know the number of attendees until later in the event planning process. That is, you need to set yourself up to successfully find new catering leads. Planners have a lot on their plate. Make sure to include a variety of options on your website or social media. In today’s world, hotel’s need to find. As an events industry pro, you’re not just in the business of managing stellar events. event sales EventProfs branding Customer Engagement target audience grow sales sales tips customer brand personal brand about the author Helen Moon, is a CIM qualified events and marketing director with an eclectic mix of experience in the events industry that spans 20 years and includes event production, venue operations, proactive sales and digital marketing. Better Customer Service: It is the most essential thing in the business, but then, all of us encounter average customer service that makes our experience horrible. How to Increase Banquet Revenue. The easiest way to increase your bottom line and boost banquet sales? “, At Upstairs Atlanta, we believe in going the extra mile for our clients,” says Russell. – Prospect in real-time either via the phone or in-person whenever possible. Nobody loves price increases, but inflation is a fact of life. Options to enhance the visitor experience include a meet and greet with celebrities/guest speakers, passes to meet senior figures, guaranteed front row seats, priority question asking, access to a VIP area and VIP goodie bags. This could look like a half-day ticket rather than a full day, a digital stream of the event, or restricted access. Create a new campaign using the Coupon theme. Beyond sales and customer service, catering sales coordinators are also responsible for managing the details for client food orders. The objective of the analysis is trying to find the factors of such difference coming out. Over the same period, in-room dining revenue per occupied room declined 3.8%. – Russell Simon, Sales Director at Upstairs Atlanta, Whether it’s a stage that can host a live band or your location that has a killer view of the skyline, capitalize on that unique element and run with it. , about the methods his business uses to increase banquet sales. One of the most effective strategies is to use your food and beverage services to increase bill size. This includes creating banquet event orders and ensuring that relevant details are communicated to both the kitchen and banquet staff. – Have grab and go options available in your lobby. 3.�Update the "small touches" regularly. If you can illustrate what your event space offers that others can’t, through clear photos, then customers can see your event space features. This strategy is always tested, evaluated, and optimized to achieve the desired results. This is quite evident that if you increase the costs of your menu items, it will automatically increase the net sales of your restaurant. It’s OK to ask more of a prospective client! In fact, the vaguer or more general the online form is, the more likely it is that unqualified prospects will fill it out. Hotel banquet sales can be a pain in the … – They can require customization, ludicrous requests and be labour intensive. Our most successful method of marketing has been, without a doubt, word of mouth. Gather & Tripleseat have merged! Create a takeout and delivery menu. “Event management software, specifically Gather, plays a vital role in increasing banquet sales,” says Russell. Increase banquet revenue with add-on sales. Encourage your team to come up with ways to cut costs, increase revenues and maximize customer service. Depending on the size of your hotel’s banquet space, most hotels can get by with only one or two terminals. Keep in mind the need for portable bars when handling banquets for larger functions. Essential strategies to increase your hotel room sales So, try to keep meetings to a minimum if you want to increase sales. We’ve gathered some best practices to improve your sales game and win more banquet business. These are easily set up.