Fast Company, in their March edition, profiled the restaurant chain Houlihan’s, who took a unique data-driven approach to identifying and leveraging the input from Best Customers using social media, “Social Network Rockets Houlihan Restaurant’ Profits.”
The results are clear: in the pilot markets, profits have increased by 12% when sales in casual dining overall were decreasing by 1%.
This week, I read a post by Scott Zimmerman on Fast Company’s web site, talking about the differences between Gen Z customers and previous generations.
Understanding those differences can make that difference between companies that build relationships and those that will eventually be commoditized.
Gen Z customers, as Scott describes them, are “young, busy and often forgetful. They are also worried about fitting in with their peers and put a value on being highly connected. They’ve grown up with the Internet, instant messaging, text messaging and mobile phones. In fact, most Gen Z customers have their own mobile phones, and they spend their free time texting and communicating online. As a result, they expect family, friends, and even businesses, to communicate with them electronically.”