They want to buy $25 of food and they are willing to pay an additional fee for the convenience of that delivery. Yeah, to- totally agree. If you believe you’re going to get three, four or five, 15 visits out of that customer, that matters a lot. I mean the ability to not be bringing a knife to a gunfight and saying, “No, I offer takeout”, is that good to an on demand consumer who wants delivery? I think this has been really insightful and appreciate you joining us today Noah. And we see that parallel being very obvious and that’s a lot of what we do at Thanx is, how do you actually lock in customers who have a huge brand affinity with you so that they have the right incentives to keep coming back to you cause both sides win. View Noah Glass's Family Tree and History, Ancestry and Genealogy. I mean, that is not incremental. So, thank you for the time to join Food Fighters.

These are all new skills for restaurant marketers and sticking with the idea of bringing a knife to a gunfight. Software Developer.

I’m concerned that they’re bringing a spoon to this gunfight actually, and that they haven’t even chosen the right tool from the toolkit they have. Gender. And that gap was delivery. Because restaurants were already a hyper competitive dynamic. They need to commit themselves in the longterm to having a platform, a tech platform that meets the needs of the on-demand consumer. There’s a lot for restaurants to figure out. Meghan and Harry are now US based. And I think brands need to get a lot better and focus a lot more than they have been traditionally on really kind of optimizing their digital platform and mastering digital ordering for takeout and delivery.

If a consumer is an on-demand consumer who wants delivery, you’re channeling them through the marketplaces and not giving them the ability to order directly from you. So just think about the, the, the cost of a third – over a third of the profit pool of this industry being eroded by consumers going to marketplaces instead of brands. Nick for the first time told that story at our first customer conference in February of this year and every brand in attendance was scribbling down notes. They should stop promoting marketplaces in any of their media, TV commercials, on their bags, on their storefronts. It is believed to be correct at the time of inputting and is presented here in good faith. And we saw this first with a brand in Chicago called Portillo’s.

This podcast is a production of Thanx, the leading CRM and digital engagement solution for restaurants. Well then giving up 20 to 30% okay, that’s tolerable. You have to know who your customers are.

Yeah, thanks. Contact us and let us know. They are differentiated, they’re craveable and they, they’re what they built their franchise upon. It means you’re not prioritizing building those lifetime values with your customers. And I think the two extremes of this commoditization story is, is it a commodity, the food, and the actual differentiated experiences, which marketplace you go to, how efficiently you can get that food and roughly like for like food, what is the lowest cost for wings? The restaurant industry is rapidly evolving. From fake meat and robot chefs to ghost kitchens and delivery drones. Please provide as much detail as possible. But there are a huge number of restaurants who, when you show up at their website wanting to place that order, they redirect you to a third party marketplace and they voluntarily sacrifice 20 to 30% of that margin and that’s the inefficiency in the market. And the risk is that they are taking ownership of your customer and renting them back to you at a significant cost disadvantage. Sometimes they’re not even competing at all and willingly pushing customers off to the third party marketplaces, high commission, low profit channel. The expectation that you must play in off-premise and in delivery, but there is a real cost of doing so. Evie and Martin reconnect as a result, and are caught off guard when local police come with questions about their father's alleged involvement in an international art heist. To turn over one more card cause I think you know we’ve been talking about the erosion of the profit pool and how competitive the restaurant industry has always been. And I think it’s unlikely that it’s all the way to either of those extremes. Because I think that’s what’s often missed in this dialogue. I would argue I’m, I’m sure you would as well, there’s some of both. This is Food Fighters, the podcast. That’s what we refer to as “indirect digital sales”. I mean, so there’s a lot of self inflicted pain that restaurants have brought upon themselves. With the 2020 election approaching see the Trump family tree. So restaurant brands to this day will offer the ability to order through their app, order through their website and come pick up the order at the store. And I think that’s where having platforms like Thanx to at least have the tools and then get a consultative guidance on how to use those tools are critically important. There’s a lot actually in the news today about cloud kitchens and Travis Kalanick’s new, uh, $5 billion entity that is going hard at this space and putting restaurant brands next to virtual restaurant brands.

But in this world it could be and that’s very dangerous for the definition of what is a restaurant in the future. And a lot of what we’ve built, I think this connects the Dispatch product and it also connects with what we’ve recently done and announced with Google food ordering are about how do you get the customer who knows they want to order from the brand and knows they want delivery, to order from the brand and make sure the brand is keeping their margin and not having their margin eroded. Those are cannibalizing the core business. And to use your OTA analogy, which is, I think a great analogy, and one that we have used to explain this to restaurant executives… What you just described of linking off to a marketplace for guests that wants delivery would be the equivalent of going to the Marriott website and having Marriott link you off to Expedia and say, “Please book your hotel through Expedia. And one of the things that that you’ve said is restaurant executives are racing to grow top line sales and are engaging in haphazard profit eroding and often foolish behavior to do so. But it likened what we’re seeing in the restaurant space to the online travel agency disruption in the hotel space. But it’s just an adaptation that restaurants are a little slow to figure out how to adapt around, I guess. Explore how the celebrity world connects. Because Google will let you do that. And so it is a complex dynamic. So I would actually say that it’s things that restaurants should stop doing first and then start doing.

It means you’re not prioritizing the actual profitability of those transactions.

Yeah, and I would say, I mean what we have built at Olo is sort of a starting point, not an end point. "Adelaide Festival Awards for Literature", "Adelaide Festival Awards for Literature winners announced", https://en.wikipedia.org/w/index.php?title=The_Death_of_Noah_Glass&oldid=958375552, Creative Commons Attribution-ShareAlike License, This page was last edited on 23 May 2020, at 13:00.

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