Tabbedout branches out into mobile marketing, advertising
If you run a bar or restaurant, you can rely on suppositions to guide your business. Then again, "My grandmother's sweet potato fries will keep 'em coming back" may be a bit thin when it comes to creating long-term viability.
That was the thinking when Tabbedout released Periscope a few months back. Periscope is a set of marketing tools, based on the Austin, Texas-based company's popular mobile payment app, that let merchants monitor customer use of the app, review customer purchase history and collect and respond to guest reviews. The data comes via the establishment's POS system, which integrates the Tabbedout app.
"Initially we were a mobile payments company [and] that's still our core business — allowing consumers to open, view and pay their tab," Tabbedout Marketing Manager Jake Westerfeld said in an interview during the recent Money2020 conference in Las Vegas. "But what we've realized is there's so much more here. We've actually taken a shift into being a marketing and advertising platform driven by mobile payments."
Periscope lets merchants drill down and see whether customers are new or regulars and to track their average spend and what they like to eat and drink. The service also lets customers provide real-time feedback, so if those sweet potato fries were cold, the manager can speak to the offended customer and provide an offer to make up for the bad experience. And the tools allow segmentation and targeting of customers for marketing and messaging based on merchant criteria, including the ability to track offer redemption.
"All of that information is really valuable to merchants," Westerfeld said. "They don't have a lot of marketing options ... and they're not marketers on top of it. [They're] bar managers and restaurant owners."
Watch the interview with Westerfeld below: