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Mega Marketing Mobile – iPhone and Android Apps for Local Businesses: Restaurant Marketing, Salon Marketing, Local Business Marketing! | Mobile App ROI
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 Customer Count Avg Dollar
per Sale
 Purchases
per Month
 Monthly
Sales
Annual
Sales
BaselineXX=$0$0
How to Get There????
% Increase   %%
0X$0X0.0=$0$0
Sales Boost$0$0
Lifetime Value of a Customer
ADollar Amount of Average Sale
BNo. of Sales per Year
CNo. of Years a Customer
DAdditional Customer Referrals per Year
E% of Referrals Who Become Customers
FGross Sales per Year per Customer (A x B)$0
GGross Sales Over Lifetime (F x C)$0
HNew Customers Annually from Referrals0.0
ILifetime Sales from Referrals (H x C x G)$0
JTotal Value of a Loyal Customer (I + G)$0
 Subscribers
(Size of List)
Promotions
Per Month
Response Rate
Percentage
Avg Dollar
per Sale
Monthly RevenueAnnual Revenue
BaselineXXX=$0$0
0X0X0%X$0=$0$0
Size of List
Revenue/Mo$0$0$0$0$0
% Discount
Cost of Discount$0$0$0$0$0
Cost of Service
Net Profit/Month$0$0$0$0$0
 Subscribers
(Size of List)
Promotions
Per Month
Response Rate
Percentage
Avg Dollar
per Sale
Monthly RevenueAnnual Revenue
BaselineXXX=$0$0
Percentage
Increase
%%
0X0X0%X$0=$0$0
Sales Boost$0$0
Size of List
Revenue/Mo$0$0$0$0$0
% Discount
Cost of Discount$0$0$0$0$0
Cost of Service
Percentage
Increase
$0$0$0$0$0
Current Statistics:
# Avg Appointments/Day# Open Appts/Day
 
 
Appt Capacity/Mo% Open Appts# Open Appts/MoAvg Dollar
Value/Appt
Monthly Lost RevenueAnnual Lost Revenue
Lost Revenue0X0%=0X=$0$0
Percent Reduced Open Appts=0X$=$0$0
Less Cost of Service$0
Net Gain in Revenue$0.00$0
ROI ?%
 Customer Count Avg Dollar
per Sale
 Conversion /
Response %
 Monthly SalesAnnual Sales
BaselineXX=$0$0
How to Get There????
% Increase   %%
0X$0X0.000%=$0$0
Revenue Boost$0$0
Additional Monthly Product/Service Cost $0
Net Revenue Increase $0$0
ROI  ?%
Value of a Customer  Cost of Losing Customers AnnualMonthly
Amount of Average Sale No. of Negative Online Reviews 
No. of Sales per Year No of Lost Customers Per Review 
No. of Years a Customer     
Additional Customers Referrals/Year Lost Revenue (Yearly Cust Value) $0$0
% of referrals who become customers     
Gross Sales per Year per Customer$0 Lost Revenue (Lifetime Cust Value) $0 
Total Lifetime Value of a Loyal Customer$0     
* 2009 Convergys Corp. Study: Single Negative Online Review can
Cost the Average Business an Average Loss of 30 Customers

2011 Cone Online Influence Report: 80% say NEGATIVE online information
changed mind about purchasing a product or service
Revenues AnnualMonthly
Current Sales Revenues $0
How Many Additional Stars? (1, 1.5, etc)  
Increased Revenue % (5-9%) *$0$0
    
Cost of Reputation Marketing  
Net Revenue Increase $0$0
    
Reputation Marketing ROI  0%
* 2011 Harvard Business School study shows EACH additional Star on Yelp increases Revenue by 5-9%
 Current Marketing Efforts AnnualMonthly
ATotal Sales/Revenue $0
BNumber of Sales/Transaction (A / C) 00
C$ Avg Transaction Per Customer $0
D* Estimated Number of Avg Transactions Per Customer
Approx number of times Avg Customer returns
 0.0
ENumber of Unique Customers (B / D) 00
F* Estimated % of Repeat Customers
Approx number of Avg Customers who are Repeats
 0%
GNumber New Customers (E - (E x F)) 00
HTotal Customer Value (C x D) $0$0
ICurrent Total Marketing Budget
Ads, Promotion, Technology, Services, etc
 $0
JCurrent Cost to Acquire One New Customer (I / G)$0  
KCurrent Net After 1st Transaction from New Customer (C - J)$0  
LCurrent Annual/Monthly Net Per Customer Value (H - J) $0$0
     
 Additional New Marketing Effort   
MAnticipated Number of New Customers 0
N$ Avg Transaction Per Customer $0
OTotal New Customer Revenue (M x N) $0$0
PCost of New Marketing Services $0
QAdditional Cost of New Marketing Svc Per New Customer (P / M) $0$0
     
     
 Net $ Per New Customer From New Service (M - Q)  $0
 New Cust ROI After New Mktg Service  0.0%

Mobile Apps for Restaurants: Is it Worth Spending?

In the quest of any business to improve the efficiency of its operations and to reach its target market, a variety of tools are being used. One good example of such would be mobile apps, which are commonly used by restaurants. The management of such establishments contracts the services of developers in order to create mobile apps that will allow the business to tap a greater portion of their market. However, the use of such is not something that comes in the absence of costs. In this case, many people are asking if it is worth the expenses. The succeeding paragraphs will let you know more on how it can provide the best value for the financial resources of the business.
To compute for the ROI of a mobile app for a specific restaurant, the following valuables will be used:

C = the number of customer who are anticipated to download the app

V = the number of additional visits that can be made by the customers in a month

S = the average amount that is spent by the customer when visiting the restaurant

Increase in monthly revenue = C*V*S

The key variable in the computation of the ROI is C, which is the number of customers that are anticipated to download the app. For the purpose of this article, let us say that a total of 50 customers are anticipated to download the mobile app of the restaurant. This is a conservative estimate. Based on the past records of the marketing team of the restaurant, let us say that an average customer makes at least 2 visits to the restaurant within a month and spends at least $15 per visit. Hence:
C = 30
V = 2
S = 10

Increase in monthly revenue = 30*2*10 = $600

From the computations that have been provided above, it can be clearly seen that the restaurant can make additional $600 monthly revenue, provided that their estimates will be true. To specifically see the ROI, you need to know the price of creating the app, or how much have been paid to the developer. For the purpose of this article, let us assume that the cost of app development is $100. Again, this is just an estimate, and will vary depending on the developer that will be chosen. When you subtract the amount of additional revenue anticipated from the cost of mobile app development, you will get $500. This is already the amount of sales that can be realized, less the amount used to trigger the additional figures. Assuming all other variables are constant, this equates into a 500% ROI, which is very attractive. With this, there is no wonder why more and more restaurants, among other establishments, are using mobile apps to increase its profitability.