How to Make Customer Data Work for Your Restaurant with Abhinav Kapur

How to Make Customer Data Work for Your Restaurant with Abhinav Kapur ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ [Facebook]( [Instagram]( [Youtube]( [Linkedin]( September 26, 2024 How to Make Customer Data Work for Your Restaurant with Abhinav Kapur Join Abhinav Kapur, Co-Founder and CEO of Bikky, as he breaks down how their platform transforms how restaurants collect and use first-party data. From integrating with key systems like POS and online ordering to launching brands live within 90 days, Bikky leads the way in actionable data insights. We discuss how the platform tackles industry challenges, whether through making data meaningful or evaluating the effectiveness of all-in-one vs. best-of-breed systems. Hear about their recent $8 million Series A funding and how they aim to empower restaurants with more targeted marketing, increased customer flow, and stronger lifetime value. Whether you run a quick-service restaurant or a casual dining spot, expect a wealth of insights in this episode to help you step up your game.   Welcome to the 'WISKING IT ALL' Podcast – the series where we engage with hospitality professionals and trailblazers who've wagered it all in their pursuits. Join us in exploring their journeys, understanding their motivations, and uncovering the secrets behind their success. Every week, we'll deliver two impactful ideas and one essential insight from our podcast episode, offering perspectives that could fundamentally transform your hospitality business. If you find value in our show, please consider subscribing and leaving a rating on [Spotify](. Your support is vital in helping us grow. Curious about the challenges and lessons I learned while building WISK? Sign up [here]( and join me as I reveal exclusive insights and effective strategies from our successful journey. Your Host, Angelo Esposito THIS WEEK’S EPISODE Meet [Abhinav Kapur.Â]( Abhinav Kapur is the Co-Founder and CEO of Bikky, a customer data platform tailored for multi-unit restaurants. Bikky centralizes data from sources like POS systems, online ordering, loyalty programs, and reservations to help restaurants enhance guest experiences, make data-driven decisions, and improve marketing efforts. The platform's inspiration came from Abhinav's experience observing his mother-in-law operate her New York City restaurant, where he saw the challenges of understanding customer behavior. This drove Bikky’s mission to provide restaurants with analytical insights usually reserved for larger global businesses. Under Abhinav's leadership, Bikky has successfully raised funding, including a $5.25-million seed round backed by investors from industry giants like DoorDash, Grubhub, and Uber Eats.   In this episode, Abhinav Kapur, Co-Founder and CEO of Bikky, dives into the company's groundbreaking approach to data collection and how it’s reshaping the restaurant industry. Abhinav shares how Bikky’s innovative platform consolidates data from various sources, such as point of sale systems, online ordering, and guest interactions, to create a more comprehensive understanding of customer behavior. He discusses the challenges and opportunities restaurants face when making data actionable, as well as how Bikky’s strategies empower restaurants to make smarter marketing decisions and drive higher customer lifetime value. 5 Keys You'll Learn: - Learn how Bikky cuts down setup time to just 2-6 weeks compared to the usual 12-24 months it takes to build a custom data platform. - Discover why simply offering dashboards isn’t enough and how actionable insights in plain English can drive real change. - Understand the debate between all-in-one systems versus best-of-breed solutions and how the latter can provide a higher ROI. - Find out how Bikky integrates data from point of sale, payment systems, and more to create detailed customer profiles. - Learn how Bikky helps restaurants analyze the full impact of their marketing efforts and menu items on guest behavior and loyalty. [Watch the full episode]( 2 IDEAS FROM THE PODCAST Idea #1  Maximizing ROI through Best-of-Breed Tech Solutions Abhinav emphasizes the importance of using focused, best-of-breed technology solutions to solve urgent problems within restaurants. He shares the perspective that restaurant operators often get caught up in an "all-in-one" mentality but benefit more from choosing specific tools that address their most critical issues effectively. He also notes that the perception of best-of-breed being more expensive is not always accurate when focusing on ROI and the value provided. Key Action Items: - Identify Core Problems: List and prioritize the top three challenges faced by your restaurant to find the most impactful solutions. - Evaluate Best-of-Breed Options: Research and compare tech solutions specifically designed to address the prioritized challenges, focusing on their effectiveness rather than cost alone. - Start Small and Scale: Implement solutions for the most critical problems first and expand to address other issues once the primary tech is functioning effectively. - Assess ROI Regularly: Continuously monitor the performance and impact of the new technology on your operations, ensuring the return justifies the investment. - Tailor the Tech Stack: Select a few high-performing tools that can be easily integrated, avoiding unnecessary tech that doesn’t directly solve an important problem. Idea #2 Leveraging Customer Data for Better Insights and Growth Abhinav speaks about how Bikky (his platform) helps restaurants consolidate customer data from multiple sources, such as POS systems and delivery platforms, to gain deeper insights into customer behavior. He underscores the need for actionable data, beyond just looking at sales figures, to understand guest loyalty, frequency, and the impact of menu items or marketing campaigns. He also highlights how restaurants can use this data to better target offers and improve customer experience, ultimately driving business growth. Key Action Items: - Integrate Data Sources: Consolidate data from all customer touchpoints (POS, reservations, delivery) to create a unified customer profile. - Focus on Actionable Insights: Go beyond sales figures; understand customer frequency, habits, and loyalty to make informed decisions about menu items, campaigns, and offerings. - Implement CRM Strategies: Use marketing automation to communicate with guests effectively based on their preferences, behavior, and past interactions. - Analyze Guest Behavior Post-Campaigns: Track the impact of marketing efforts, menu changes, or promotions to understand how they affect new customer acquisition, repeat visits, and overall loyalty. - Adapt Pricing and Offers: Test different pricing strategies and offers based on customer data insights to maximize their impact without devaluing the brand. Regularly evaluate the long-term effects on customer retention and behavior. [Listen on Spotify]( [Listen on Apple Podcast]( 1 KEY LEARNING ❝ Half the battle is taking your product and your vision and your expectations and mapping it to the customer’s reality, and understanding the way they talk about it... It's about framing the value of our product in the context of your actual current problems as a business. [❞]( This quote speaks to the importance of aligning tech solutions with the day-to-day realities of restaurant operators. Abhinav suggests that tech providers need to empathize with the operational challenges faced by restaurants and present their products as directly solving these problems, not just offering abstract benefits. [Listen & Subscribe]( P.S. Love our podcast? Share your feedback and recommend our podcast to other restaurateurs who might appreciate a sprinkle of our episodes! #WiskingItAllPodcast [Facebook]( [Instagram]( [Youtube]( [Linkedin]( [TikTok]( Sent to: {EMAIL} [Unsubscribe]( © 2024 Wisking It All... by WISK.ai WISK.ai, 488 Wellington St W , Suite 304, , Toronto, ON M5V 1E3, Canada