Capturing Customer Attention in an Oversaturated Marketplace

In an earlier article in this series, we talked at length regarding how to retain customers through experience, consistency, value, and engagement. However, all that effort will be for nought if you cannot attract new customers in the first place.

According to Statista, the food and beverage industry is expanding rapidly and is predicted to continue along that trajectory for the rest of this decade:

• Total revenue in the food and beverage segment was projected to reach US$0.74bn in 2022.
• Total revenue is expected to show an annual growth rate (CAGR 2022-2027) of 7.14%, resulting in a projected market volume of US$1.10bn by 2027.
• In-app purchase (IAP) revenue in the food and beverage segment is projected to reach US$252.70m in 2022.
• Paid app revenue in the food and beverage segment is projected to reach US$80.43m in 2022.
• Advertising revenue in the food and beverage segment is projected to reach US$411.30m in 2022.

The end result of these figures is that the food and beverage space is becoming an increasingly crowded marketplace and is only likely to become more so as time goes on. This is going to make the business of standing out from the crowd and getting noticed by an increasingly fickle customer base more challenging as we move through the decade.

Social Media

To grab the attention of customers in this intensely crowded market requires a well-thought out and structured approach which shows an understanding of what the modern food and beverage customer is looking for when interacting with brands in the space.

Firstly, you need to be a master of social media as this is where increasing numbers of customers discover new brands. According to Statista, during a 2021 study of social media users from eleven countries, 77% of respondents said these platforms inspired them to gain more information about a product or brand.

This not only means leveraging paid advertising on platforms such as Facebook, Instagram, or TikTok, but also having a social media content plan which demonstrates what your business has to offer.

The most important part of any social media content plan is to ensure the material you are posting is congruent with your brand identity. For example, if your business is a fine dining establishment at the very height of food experimentation and presentation, filling your social media feeds with memes and humorous content is going to result in a disconnect between the kinds of people following your accounts and the kinds of people you actually want to attract through your doors.

Likewise, if your eatery is a casual dining venue suitable for families and children, you want your social media feed to be more fun and light hearted, rather than too stuffy and serious.

You also need to make sure your social media feeds offer a good balance of straight-up advertising posts and more informative/entertaining content. Nothing gets a social media user reaching for the unfollow button faster than being constantly bombarded with adverts. This still counts if you are a fine dining venue as well – it might not be a good idea to post memes, but you can still share informative content such as cooking tips or even recipes.

Websites

Significant proportions of customers read menus online before deciding whether to visit or order from a restaurant and, according to Google, 89% of dining research is done by mobile before visiting an eatery.

This means, if you want to attract new customers in the digital age, having a well optimized and presented website is incredibly important. While many restaurants only have a social media page, it can be difficult to find specific information – such as a menu – on these platforms. However, a beautifully presented website properly optimized for mobile viewing and SEO will, not only make your business easier to discover online, but also provides an opportunity for you to present your offerings in a manner which show them in their best light.

Location data is becoming particularly important when it comes to getting noticed. Of those 89% who research restaurants on their mobiles, a significant proportion, are doing so to find eateries which are in their vicinity at that particular moment, so making sure your business pops up on Google or Apple Maps when these searches are carried out is going to be increasingly important moving forwards.

Final Thoughts

Customer acquisition is becoming increasingly difficult in a marketplace which is becoming more crowded each year. Grabbing the attention of customers using digital tools, such as social media and a well-designed and optimized website, are key steps in solving these puzzles.

Attracting new customers is sure to be part of the conversation at Digital Food and Beverage 2023, being held in June at the Hilton La Jolla Torrey Pines, CA.

Download the agenda today for more information and insights.