March 11, 2024 • 32 mins
In this episode of "The Restaurant Report," host Paul Barron is joined by Zach Goldstein, CEO of Thanx, a leading restaurant customer engagement platform. The discussion delves into the evolving landscape of consumer sentiment toward dining out, with a particular emphasis on Gen Z's unique behaviors and preferences.
As the restaurant industry grapples with declining consumer sentiment and lower frequency rates, Zach and Paul explore the role of loyalty programs in addressing these challenges. They shed light on how Gen Z's definition of dining out fundamentally differs from previous generations and how this shift reshapes the industry's customer engagement approach.
Throughout the episode, Zach shares valuable insights and strategies for operators seeking to adapt to this changing consumer landscape. He discusses the power of personalization, the importance of seamless digital experiences, and the potential of data-driven loyalty programs to foster long-lasting relationships with Gen Z diners.Key Takeaways:
- Understanding Gen Z's unique dining preferences and behaviors
- The declining consumer sentiment towards dining out and its impact on the industry
- How loyalty programs can be leveraged to attract and retain Gen Z customers
- Best practices for creating personalized and engaging loyalty experiences
- The role of technology and data in driving successful loyalty programs
Join Paul Barron and Zach Goldstein as they delve into the future of restaurant loyalty programs and explore how operators can adapt to the evolving demands of Gen Z consumers.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:09):
All right, So first of all, let's get into a little bit about
thanks. I think some of ourlisteners and viewers may be aware of thanks,
but maybe not fully give us akind of a rundown. Yeah.
Thanks. As a leading guest engagementplatform for the restaurant industry, we think
about all things coming from interacting withyour guest through digital channels, the app
(00:31):
and web ordering experiences, the loyaltyprogram the marketing that you send through push
notifications or email, etc. Youknow, capturing sentiment, all the information
you need to understand your guests andfrankly to drive them back more often.
I like the you know, thecustomer engagement platforms usage there when you okay,
(00:55):
so when you say customer engagement theidea of around that is it really
on loyalty by itself or does italso include things like building the guest check
amount or does it include other CRMactivities outside of yes, work, we're
(01:15):
the core CRM for a restaurant.We understand who the guests are, and
frankly, we're combining two concepts thatrestaurants have struggled with. The first is
loyalty programs, which we'll spend alot of time talking about that are outdated
and more dependent on rote discounts andby x get y unchanging methods, and
(01:38):
that's what gave loyalty programs a badname in this industry. But they were
just not being done right, andwe've done some things to change that.
The other piece is marketing really meantspam email marketing for a long time.
For restaurants, it meant just blastingout the same message to all your guests,
(01:59):
crossing your fingers hoping they come back, or even worse, patting yourself
on the back when you get areally good open rate, as if that
has anything to do with how manypeople are spending money at your restaurant.
And so the ways that you usedata for a restaurant today have to be
personalized. The actual digital ordering experience, show what I ordered last time,
so it's easier for me to orderit again. Personalize those emails with segmentation.
(02:23):
Use mobile apps for your best guests. Not everyone will download an app,
but your top customers will and itwill increase their frequency. And that's
why we've combined that into a singlesolution. I think that's so CRM is
so critical, I think, especiallyin this era of restaurant consumers because we've
seen the lack of brand affinity,you know, from consumers, just a
(02:46):
lot of moving around, you know, for many reasons. Price, sometimes
it's experience, et cetera. Doyou go into the level of spend data
on the CRM, So can youtake a look at John Smith and say,
I know what John has spent throughouthis customer journey with us over the
last six months? Is that somethingthanks to us? That's exactly what we
do. And in fact, wehave one hundred or so automatic segments that
(03:09):
our system creates on behalf of restaurantsand infinitely more than a restaurant can create
using our tool, so that you'reactually talking to guests based on what they're
doing, When are they coming in, day part, day of week,
what are they buying, how arethey spending? Is it for themselves?
Is it for their family? Thoseare all triggers that should lead to different
(03:34):
forms of communication with the guests.If you're ignoring them, it's no wonder
that the guest is also ignoring you, right, I think that's a well
good point to the guests is ignoringyou. This brings up another topic,
and that is gen Z dining sothere's been some trends and some data that
are reporting gen Z's dining out quitea bit less in terms of frequency.
(04:00):
I know if this is something that'sgoing to stick around, but it seems
to be a unique dynamic and howthey basically eat away from home. What
are you guys seeing around that trend? Is this something that's short lived or
is this maybe just a new styleof how these types of consumers interface with
restaurants today. Yeah, we've seena shift in the way consumers engage with
(04:20):
restaurants, and frankly, digital andoff premises is here to stay. That
behavior change during COVID, it's notgoing back, so restaurants need to adopt.
The good news is if you fastforward or relying four years ago,
I think there was a debate aboutwhat restaurants need to invest in digital and
(04:40):
enabling first party ordering. That debate'slong gone. Everyone knows that they need
to have first party digital ordering orthey're going to lose their lunch to the
third parties, and that customers demandit. Now. The question is how
do you take advantage of that tonot just say check the box, we've
got a digital platform, but we'reactually driving customers to us versus DoorDash er
(05:04):
Uber. We're actually making it convenientso that customers who actually liked their experience
want to come back and purchase again. And that comes down to using a
massive amount of data generated from digitalto talk to guests personally. Now,
the question around that you asked arounddining preference those gen Z and Frankly,
(05:29):
as we get even into the youngerdemographics, we're going to see more of
this in my estimation, but millennialsand Gen zs are both demonstrating that showing
up at a restaurant, dining inthe restaurant, and walking off when you're
done with your meal. They'll doit occasionally, but that's not the majority
of their dining occasions, and youhave to be willing to embrace the multiple
(05:49):
ways that they want to engage.And the last point I'll make is to
that point, we see that guestswho are omni channel, who dine in
the restaurant and who sometimes take theirfood off premiss either through pickup or delivery,
they actually have much higher LTVs.And so you're driving lifetime value by
helping your customer understand there are multipleways you can use my brand is that
(06:14):
something. You know, I hearpeople talk about omni channel all the time,
and you look at some of thisin the third party side. Some
of this maybe going to e commerce, which is, you know, just
another form of getting the order inthe house for maybe an individual pickup.
Are you seeing any trends around thatin terms of people who are going online
ordering or mobile ordering and flipping overto picking up in restaurant versus the third
(06:39):
party delivery. Absolutely, it's alla matter of incentives. You know,
Pricing across the industry has gone up, so check sizes are going up,
people are delivering, restaurants are delivering. Sam store sales growth largely on the
back of taking price. But what'sstarting to be talked about is frequencies down
industry wise, right, and that'sa major concern. It means customers are
(07:04):
value sensitive and one of the thingsthat you can do with a well structured
loyalty program is give consumers a reasonto come direct to you. Many consumers
are driving right by your restaurant ontheir way home from work. The idea
that with the right loyalty incentive,they would go two minutes out of their
way to get their own food insteadof paying an eight dollars markup for delivery.
(07:29):
That's appealing to a lot of consumers, but not if you don't give
them a reason to do it.They'll default to convenience if it's all the
same. And that's where a loyaltyprogram needs to be used as a tool,
not just a one size fits all. Yeah, I wanted to show
you some general data. I wantto get your opinion on maybe the size
(07:49):
of the loyalty sector of the market. If you look at just the general
data right now, this coming overfrom Statista that and I still think this
might be a little bit underreported,but global size of the food service market
around two point five trillion, allright, that's in twenty one. This
is forecasted to go to four pointfour trillion in twenty eight. So I
(08:13):
just saw the report coming in yesterdayor earlier this week from Hudson really at
the NRA that we've clipped over inthe United States over one trillion in revenue.
Then you look at this data righthere. This is Research and Market
so this is back in actually midlast year. But what they were talking
about, I'm kind of zoom inon that for people and share that tab
(08:37):
there. Let me zoom in onthis a little bit. There we go
the a global loyalty market expected togrow like twelve percent annual basis one hundred
and thirty five. This is twentythree, and now we're looking at market
forecast of like two hundred and fifteenbillion by twenty seven, so continuing to
grow at this pace. Here's myquestion to you, if you look at
(09:00):
those kind of stats that we're seeingthere on screen right now, and you
look at companies like thanks, isthis underreported because it feels like that's not
that seems loyalty wise, it justfeels like it should be so much bigger
than what they're talking about here,two hundred and fifteen billion out of four
and a half trillion. So we'rein the midst of a catch up period
(09:22):
in the restaurant industry. But thegood news is we already know where this
is going to go because we've seenit in other industries. There was a
period where hotels could debate whether aloyalty program was necessary for their business or
whether it was a discount driver.Loyalty programs are ubiquitous in hotels now,
(09:43):
and they're necessary because of the arrivalof online travel agencies which disaggregated hotels from
their guests and cost them margin.You know, I talked a lot about
this story and the four horsemen ofthe restaurant apocalypse. Loyalty programs create the
connection between a hotel guest and thehotel chain, and they've become a requirement
(10:03):
to exist. We are seeing thathappen in the restaurant industry. Where it
used to be you could decide,am I a brand that has a loyalty
program or am I not? Andfrankly, there's some famous examples. There
are executives from McDonald's Chipotle who yearsago said, yeah, we don't need
a loyalty program, it's not partof our brand. Those are two of
(10:24):
the fastest growing, largest loyalty programsin the industry, exactly, and so
loyalty programs are a requirement. Whatneeds to change is that if a restaurant
is running a loyalty program, asI said before, that's one size fits
all. Hasn't changed in ten years. I can blindly guarantee it's not driving
(10:45):
revenue for their business. Right now. That means more investment, more specialization,
innovation from technology, and restaurants don'twant to hear this is going to
be more spend on technology, marginsare already under pressure. Here's the good
news. A loyalty program done rightis a massive revenue driver. It's not
(11:05):
a cost center, and so it'snot like investing in your point of sale
or other operational things, which arejust cost centers. If you're doing it
right, it has many times multipleon returns in terms of driving revenue.
Coming out of a web three loyaltyplatform that was launched by a company called
Bubba Guys, we've reported on ita couple of times, and the numbers
(11:28):
that I saw coming back were almostI just couldn't believe them, you know,
So it was either just because itwas a new thing. I wasn't
really sure. My question to youis, do you see that we're going
to see an expansion of other typesof omni approaches toward loyalty other than the
(11:48):
traditional models that we've seen, sayin the last couple of years. No
doubt we are indeed seeing that exactthing. And one of the insights we've
reported publicly is we've had several brandswho have experimented, for instance, with
non discount reward models. One ofthe ones that I think is most interesting
(12:11):
are access to a secret menu.If I had told people several years ago
that a large chunk of consumers wouldhappily redeem their loyalty points for access to
a secret menu instead of a fivedollars discount, people would have said,
I'm crazy and that's why everyone wasgiving out discounts, and then you know,
shaking their fist at why is mydiscount line so big? You need
(12:33):
to think about loyalty differently. Itturns out many customers prefer exclusivity, they
prefer access, and you can createprograms around that that drive frequency and drive
attachment without a single dollar in discount. Yeah. This is something we've done
even within our own media companies,is we've created more closed groups and now
(12:58):
and we have's on how many peoplecan be in those, and I mean
they're full, They're full all thetime. You know, we have people,
you know, what can we doto get in this program? You
know, because it's usually access toadditional research data all that kind of stuff.
So I would agree with you.I think that that's going to be
an interesting tactic. You know,from the stance of how do you grow
(13:20):
you know, not only brand loyalty, because that gets here back to the
point I had earlier, which iswhere gen Z seems to be not very
brand, you know, consistent.Hey, what do you think about You
look at the impact on restaurants,you know, over the next couple of
years, and you think about thehot sectors and the sectors that have been
(13:41):
cooling off. And I'll give youan example, fast casual it's pretty much
been a hot sector for almost adecade and a half. Then you have
QSR, which really has started tochange quite a bit, really positioning well
in a better way, Casual diningtrying to make some move, and even
fine dining to a certain extent,traditional chain find dining probably a little bit
(14:03):
lackluster because we're seeing the independence kindof invating that space. What are your
thoughts in terms of the sectors thatare hot right now? So here's the
good news. I believe they allhave potential. And that's not just rosy
optimist. I actually believe that wehave an industry that is behind in technology
(14:28):
and in behind in data. Yeah, and yet is a trillion dollar industry.
That's remarkable. You can't find thatthere are not massive, hundreds of
million dollar e commerce businesses who havea broken digital footprint and don't use data.
(14:50):
It literally doesn't exist. It's impossible. So we're doing a lot right
to create great experiences something that consumerswant, which is great food in a
way that they don't have to makeit. And now it's about adapt to
the way consumers are changing their behavior, which was accelerated by five six years
(15:11):
with COVID. Convenience. Convenience,convenience, and at the end of the
day, loyalty is there's only somuch you can do from a marketing standpoint
if the actual experience of getting yourproduct is not convenient and easy. Right,
Yeah, totally agree with that.You talk about tech and the restaurant
(15:33):
industry being some This has kind ofbeen the knock on the restaurant industry for
a long time, is that it'sslow to adopt new technologies, new methodologies.
I think COVID, of course,kind of changed the landscape of that,
but at the same time, we'vehad a lot of companies now starting
to regress a bit. Here's astory, you know, as an example
toast, you know, just cutlike five hundred and fifty people and you
(15:54):
look at the tech sector as awhole do you think this is going to
be something that is going to stickaround and we're going to need I mean,
because this has been I mean youlook at Elon's he comes in and
he cuts ridiculous numbers on Twitter andX. You look at Mark over at
Meta, I mean, he kindof did the same thing. A lot
(16:15):
of repositioning in big tech. Nowyou look at these, you know,
more sub sector tech like what wedeal with in the food service space.
Do you think there's going to bea reset here on the number of tech
companies and the number of products we'rebeyond the restaurant space. We are seeing
that reset for sure, as wesee a market adapt from growth at all
(16:38):
costs to are you building a longterm sustainable business? And all these tech
companies are adapting there, and youknow the challenge is most of them sell
to other tech companies, so youget this kind of reinforcing cycle. The
good news is, in many ways, restaurant tech has not benefited from that
(17:02):
growth at all costs environment because restaurantsare slow to adapt. And so I
actually think it's a healthier tech sectorand one that has more growth opportunity than
more wax sliding opportunity. That said, one of the challenges speaking transparently for
this industry has been an understanding ofwhat good technology looks like. Restaurants often
(17:26):
try to buy the cheapest solution,and unfortunately they don't get the results from
it, and there's a challenge there. And so I'll give you an example.
Your chicken costs go up. Asa restaurant, you understand, Look,
there's inflation and this is the realityof the market, and I'm going
(17:47):
to have to make a decision toeat margin or pass this on to my
consumer. And there's not much Ican do about it. And yet restaurants,
when they look at their technology platformssay I want more data analytics in
real time, I want to sliceand dice my information more ways, and
I want my partner to be moredynamic in the ability to do that.
That's based on some very expensive engineers, some very expensive technology like snowflake,
(18:11):
and those costs are going up aswell, and so restaurants have a decision
to make and we're trying to helpmake that easier by saying, can we
invest in technology prove that it drivesrevenue so that we get the right virtuous
cycle. Invest more in technology,get more revenue, continue to invest and
(18:33):
go the right direction because that's beena leap of faith. That's really scary
for restaurants. And understandably, youspend more money on the newest and greatest
point of sale, does it alwaysmean you've driven revenue for your business?
Often? No, all right,Zach. So when when you think about
it that way. One of thethings that there's been a handful of companies
(18:56):
that have done some acquisitions out therein terms of technology. This is an
example Aspire Brands. They acquired atech delivery firm FROMO and there's been others
out there. You look at Chippota, who's invested in an autonomous delivery,
and a handful of others. Doyou think that is something that is a
(19:17):
new normal for restaurant brands to actuallystarting to get into the tech industry.
It may be a direction we seerestaurants go. These things go in cycles.
I do not believe it will bea long term status quo for the
restaurant industry. Greg Creed for Mercyof Young is on our board and he
(19:38):
likes to say that restaurants do bestwhen they focus on the things they're excellent
at, creating great food, greatexperiences and being a marketing organization. At
the end of the day, Itend to believe that's true. Our business
and building technology for restaurants is awhole lot different, and I think specialization
(20:00):
is often good for driving the bestoutcomes. So I think we'll see some
of this there. There was anothernews article about Wingstoff reducing some of their
technology and building it in house.You know, they're they're deleting Olo as
an example. That's a very expensiveinvestment and the bar is really high for
(20:21):
that to pay off. We'll seesome brands can pull it off, but
most probably can't in my estimation.Well, and you know, we look
a lot in the sector around newinnovation in in tech and while I agree
somewhat with because I have a lotof restaurant operators that kind of tell me,
you know, we're not in thetech industry, and I'm like,
(20:44):
well, you used to not bein the marketing industry either, but you're
you know, you're in the marketingbusiness now, and it's it's going to
happen. I think we're going tojust see so much tech invasion that it's
just it's just a matter of timebefore technology kind of be comes like marketing,
you know, to h to restaurantoperators. Whether it's as easy that
(21:04):
I don't know, but you know, so when you think about that and
you look at AI self ordering loyaltysystems kind of shifting into that. As
I said earlier, we had theconverse now guy on and I've had SoundHound
on one of a lot of thesevoice AI guys, which you know is
going to change some of the customerservice equation. But I just wonder will
(21:30):
well this new evolution, especially whenyou think AI but in self automated order
cycles more, you know, mobileordering, lead processes, et cetera,
is that going to also shift Ijust assume it's going to shift the loyalty
business into kind of a different thing. What are your thoughts on that?
(21:51):
Yeah, I think you know alot of the public company restaurant leaders don't
want to say it, but theinitial implication of AI and restaurants will be
cost savings initiatives, and ultimately that'sin the face of rising labor costs,
and so it's not a popular thingto say, but that's what they're actually
targeting. And I think we're undoubtedlygoing to see more of that when it
(22:15):
comes to self ordering. When itcomes to automating things that are expensive back
of house in the kitchen, that'scoming and it's inevitable as far as I'm
concerned. The question then becomes onfront of house application of AI. You
know, the big moment in AIright now is generative AI. There's these
incredible models that open AI is producingon Write three sentences and they can make
(22:40):
you a video. Do I thinkthat's going to have an implication for restaurants.
No, it's sexy. People wantto talk about it, but at
the end of the day, youactually hit on it. Before restaurants are
marketing organizations, they have to beunique. No AI model is going to
make you a world class marketing organization. Where I do think it's going to
(23:02):
be effective is the effort to treatyour guests individually. Five years ago,
send out an email to your entirelist of two million people, cross your
fingers and hope they engage. Today. Thanks offers you hundreds of pre built
segments so that you can treat yourcustomers as unique groups of people. But
it's still not one to one marketing. The vision ultimately is you can understand
(23:27):
very deeply what makes Paul and Zachdifferent and send the right message at the
right time. And by the way, e commerce has been doing this for
a while, sending ten thousand variantsof the same campaign based on micro segments.
I think we'll get there in away that it's not a restaurant marketer
(23:47):
slicing and dicing data and manually creatingcampaigns that will never scale. Yeah.
So I guess I'm still skeptical alittle bit on where AI will insert,
but that is one of the areasthat I do think could could open up
in this. I mean, wework now with some AI tools around some
(24:08):
of the big data that we ingestfor some of our other businesses. And
one thing that I'm continuously surprised atat one at how inaccurate it is unless
you ingest a language model in thatgives it a new learning tool. And
I guess that's my question is doesthe does the customer at some point,
(24:30):
you know, kind of like thepersonalization aspect of trying to create that customer
relationship. There's a lot of thingsthat Chipotle doesn't know about me, but
I could be happy to tell themabout getting my order right. I could
go down a litany of things allthe way down to how you deliver it
to my front door. You know. So if they had that data and
(24:51):
an AI model, a language modelcould take that from millions of customers,
multimillions of customers and then create whatyou're talking about, which is kind of
this custom experience that truly is almostlike another person that knows me personally and
says, I know that Paul can'ttake a delivery before five o'clock on Wednesdays
(25:11):
because he's got his kids in violinclass. Yep, So why would I
come early on that? Which happensall the time? Okay, So those
kind of things that and that causesme to always kind of pause for a
second. Okay, am I doingtakeout tonight with Chipotle? Or am I
going to go drive over there?Now you've potentially threatened your opportunity to engage
(25:36):
with me, because now I'm loosein the world. I can stop at
Panera instead of Chipotle on the way. It's just right here, I'm just
going to go there. That isexactly right, and that's why it requires
more and more data points. Andby the way, going back to our
should restaurants be tech companies? That'salso why technology needs to exist outside the
restaurant, because you could have asmuch data about what your customers doing with
(26:00):
you, But if you aren't testingit at what customers are doing with lots
of other brands, your training setfor this stuff's just not large enough.
We've sent way more campaigns out thanany one of our restaurants could ever send
on their own, so we havefar richer data to understand what is predictive
of future behavior than any single restaurantcould. Yeah, this is going to
(26:25):
be interesting to see how this evolvesin them, you know, in the
coming years, because I think itwill take some time for a lot of
operators. When you look at theoperators that are out there right now,
is there anybody that sticks out inyour mind? I hate to put you
on the spot, but in termsof companies that even if it's just give
me an example of somebody that isdoing it right, who would you say,
(26:45):
maybe one of your best customers,Who would you say this guy is
really they got there, They've they'vezoned in on what the future is and
they're they're locked and loaded. Well, i'll give you. I'll use public
comps because it's probably easiest. Allmy insight is not quite as exclusive as
you might like. But Chipotle wasahead here, focused on what I would
(27:08):
consider the new definition of loyalty,what we call loyalty three point zero status,
convenience, exclusivity. They ran GUALCmode. They created access to their
case ada through digital and you couldn'tget it intore. They were doing a
lot of stuff that put them wayahead, and their stock price benefited.
They were head and shoulders above theFood and Beverage index for a while.
(27:30):
Now is Chipotle missing on their executionright now? In my opinion, know
what's happening is others are narrowing thatgap, and that's partially what's driving the
current trend. I'd say the othersorry, go ahead. That's interesting because
I think you're right. You know, we've seen it not only in sales
numbers, but also consumer sentiment,which has been ironically trending down with Chipotle
(27:56):
here over the last three to fourmonths, we've seen ticks in the armor
starting to trend down. I don'tknow if that's the customer just getting fatigued
or what's happening, but there's someinteresting things happening. I think that's the
challenge of building tech yourself. Thebars constantly raising. You can't just get
ahead and then it just sustains.You have to keep pushing innovation because others
(28:17):
will catch you. And that's verychallenging. That's a constant rat race that
you have to be on to stayahead or that gap starts starts trending down.
And I think we're seeing that inwhat you described. I think that's
the burden of success here. Thereare other stories. I actually think Sweet
(28:38):
Green's loyalty strategy is excellent. Whoever'sthinking and designing that strategy around challenges that
are truly personalized, so that athree time customer gets an incentive only when
they come a fourth time in amonth. That is absolutely the direction we
see things going from a loyalty standpoint, and yet it's not yet driving the
(29:00):
results that I bet that that brandwould want to see. And I think
partially my guess is that's a lotof technology that had to be built on
their own, which means innovation isburdens I think so quickly. Yeah,
(29:21):
I mean you guys are constantly developing, reiterating things of that nature. You
know, from a tech side,this is part of what a tech company
is, you know, it's it'sconstant reinvention of Okay, everything that happened
in two point zero is doesn't reallymatter. Three point zero is the new
version. So I get that,you know. I remember the day is
when I worked with Microsoft and wewere running you know, the original you
(29:44):
know, launches of a lot ofthe OS systems, and it was that
very same thing. We almost endedup doing complete new engineer teams in many
cases, even though there might bea lead engineer that jumped over from the
existing version set that we were on, a lot of times it was a
brand new team, you know,because they're dealing with a whole new model
and they wanted fresh ideas. SoI get that for sure. This is
(30:06):
always fun to chat with people inthe in the business like this, Zach.
So it's going to be it's gonnabe great. But thank you so
much for coming in on the showtoday. We appreciate it. Absolute pleasure,
you bet all right. So,if you guys are tuned in right
now, maybe on the audio versionof this podcast. You can catch the
video version of the podcast just bygoing over to save dot fm. This
(30:26):
is our sub stack, so makesure and subscribe on to the substack.
You'll get an email you'll get inthe loop of a lot of our other
podcasts that we have on there,including art which is our Accelerate Restaurant Hospitality
technology podcast. We also do hof course Restaurant hospital or excuse me,
the Restaurant Report, and then alsoa Fast Casual Nation. You don't want
(30:48):
to miss that one big one.So all you have to do again Savor
dot fm is all you have todo and you'll be there. Hey,
Zach, it's been great having youon the show. If anybody wants to
check out Thanks, what's the bestway they can find you? Check us
out at thanks tha n X dotcom. And I talk a lot about
this stuff on LinkedIn, which hasbeen a good platform for us to try
(31:11):
to educate the industry. So lookfor me there and follow me there.
You got it. We'll see youlater. Thanks again for stopping in.
Zach, were absolutely all right.So guys again, like I said,
you know, the first of all, thanks for all the comments on the
show. We appreciate your input andyou know, sometimes we'll throw out ideas
(31:32):
that we're working on. One thingI want to make a represent a recommendation
to you guys, is we havea new program that is launching this year
called Brand Breakers, and it's ait's basically an award mechanism that's going to
look at the best brands and marketingtechnology and branding those three elements and selecting
the top ten every quarter and thenat the end of the year, we'll
(31:55):
be doing a big award system.So check out. We'll be talking a
lot more about it. We'll havestuff on the website soon talking about brand
Breakers, But make sure and checkthat out when you guys get a chance,
and we'll catch you next time righthere on the Restaurant Report
All right, So first of all, let's get into a little bit about
thanks. I think some of ourlisteners and viewers may be aware of thanks,
but maybe not fully give us akind of a rundown. Yeah.
Thanks. As a leading guest engagementplatform for the restaurant industry, we think
about all things coming from interacting withyour guest through digital channels, the app
(00:31):
and web ordering experiences, the loyaltyprogram the marketing that you send through push
notifications or email, etc. Youknow, capturing sentiment, all the information
you need to understand your guests andfrankly to drive them back more often.
I like the you know, thecustomer engagement platforms usage there when you okay,
(00:55):
so when you say customer engagement theidea of around that is it really
on loyalty by itself or does italso include things like building the guest check
amount or does it include other CRMactivities outside of yes, work, we're
(01:15):
the core CRM for a restaurant.We understand who the guests are, and
frankly, we're combining two concepts thatrestaurants have struggled with. The first is
loyalty programs, which we'll spend alot of time talking about that are outdated
and more dependent on rote discounts andby x get y unchanging methods, and
(01:38):
that's what gave loyalty programs a badname in this industry. But they were
just not being done right, andwe've done some things to change that.
The other piece is marketing really meantspam email marketing for a long time.
For restaurants, it meant just blastingout the same message to all your guests,
(01:59):
crossing your fingers hoping they come back, or even worse, patting yourself
on the back when you get areally good open rate, as if that
has anything to do with how manypeople are spending money at your restaurant.
And so the ways that you usedata for a restaurant today have to be
personalized. The actual digital ordering experience, show what I ordered last time,
so it's easier for me to orderit again. Personalize those emails with segmentation.
(02:23):
Use mobile apps for your best guests. Not everyone will download an app,
but your top customers will and itwill increase their frequency. And that's
why we've combined that into a singlesolution. I think that's so CRM is
so critical, I think, especiallyin this era of restaurant consumers because we've
seen the lack of brand affinity,you know, from consumers, just a
(02:46):
lot of moving around, you know, for many reasons. Price, sometimes
it's experience, et cetera. Doyou go into the level of spend data
on the CRM, So can youtake a look at John Smith and say,
I know what John has spent throughouthis customer journey with us over the
last six months? Is that somethingthanks to us? That's exactly what we
do. And in fact, wehave one hundred or so automatic segments that
(03:09):
our system creates on behalf of restaurantsand infinitely more than a restaurant can create
using our tool, so that you'reactually talking to guests based on what they're
doing, When are they coming in, day part, day of week,
what are they buying, how arethey spending? Is it for themselves?
Is it for their family? Thoseare all triggers that should lead to different
(03:34):
forms of communication with the guests.If you're ignoring them, it's no wonder
that the guest is also ignoring you, right, I think that's a well
good point to the guests is ignoringyou. This brings up another topic,
and that is gen Z dining sothere's been some trends and some data that
are reporting gen Z's dining out quitea bit less in terms of frequency.
(04:00):
I know if this is something that'sgoing to stick around, but it seems
to be a unique dynamic and howthey basically eat away from home. What
are you guys seeing around that trend? Is this something that's short lived or
is this maybe just a new styleof how these types of consumers interface with
restaurants today. Yeah, we've seena shift in the way consumers engage with
(04:20):
restaurants, and frankly, digital andoff premises is here to stay. That
behavior change during COVID, it's notgoing back, so restaurants need to adopt.
The good news is if you fastforward or relying four years ago,
I think there was a debate aboutwhat restaurants need to invest in digital and
(04:40):
enabling first party ordering. That debate'slong gone. Everyone knows that they need
to have first party digital ordering orthey're going to lose their lunch to the
third parties, and that customers demandit. Now. The question is how
do you take advantage of that tonot just say check the box, we've
got a digital platform, but we'reactually driving customers to us versus DoorDash er
(05:04):
Uber. We're actually making it convenientso that customers who actually liked their experience
want to come back and purchase again. And that comes down to using a
massive amount of data generated from digitalto talk to guests personally. Now,
the question around that you asked arounddining preference those gen Z and Frankly,
(05:29):
as we get even into the youngerdemographics, we're going to see more of
this in my estimation, but millennialsand Gen zs are both demonstrating that showing
up at a restaurant, dining inthe restaurant, and walking off when you're
done with your meal. They'll doit occasionally, but that's not the majority
of their dining occasions, and youhave to be willing to embrace the multiple
(05:49):
ways that they want to engage.And the last point I'll make is to
that point, we see that guestswho are omni channel, who dine in
the restaurant and who sometimes take theirfood off premiss either through pickup or delivery,
they actually have much higher LTVs.And so you're driving lifetime value by
helping your customer understand there are multipleways you can use my brand is that
(06:14):
something. You know, I hearpeople talk about omni channel all the time,
and you look at some of thisin the third party side. Some
of this maybe going to e commerce, which is, you know, just
another form of getting the order inthe house for maybe an individual pickup.
Are you seeing any trends around thatin terms of people who are going online
ordering or mobile ordering and flipping overto picking up in restaurant versus the third
(06:39):
party delivery. Absolutely, it's alla matter of incentives. You know,
Pricing across the industry has gone up, so check sizes are going up,
people are delivering, restaurants are delivering. Sam store sales growth largely on the
back of taking price. But what'sstarting to be talked about is frequencies down
industry wise, right, and that'sa major concern. It means customers are
(07:04):
value sensitive and one of the thingsthat you can do with a well structured
loyalty program is give consumers a reasonto come direct to you. Many consumers
are driving right by your restaurant ontheir way home from work. The idea
that with the right loyalty incentive,they would go two minutes out of their
way to get their own food insteadof paying an eight dollars markup for delivery.
(07:29):
That's appealing to a lot of consumers, but not if you don't give
them a reason to do it.They'll default to convenience if it's all the
same. And that's where a loyaltyprogram needs to be used as a tool,
not just a one size fits all. Yeah, I wanted to show
you some general data. I wantto get your opinion on maybe the size
(07:49):
of the loyalty sector of the market. If you look at just the general
data right now, this coming overfrom Statista that and I still think this
might be a little bit underreported,but global size of the food service market
around two point five trillion, allright, that's in twenty one. This
is forecasted to go to four pointfour trillion in twenty eight. So I
(08:13):
just saw the report coming in yesterdayor earlier this week from Hudson really at
the NRA that we've clipped over inthe United States over one trillion in revenue.
Then you look at this data righthere. This is Research and Market
so this is back in actually midlast year. But what they were talking
about, I'm kind of zoom inon that for people and share that tab
(08:37):
there. Let me zoom in onthis a little bit. There we go
the a global loyalty market expected togrow like twelve percent annual basis one hundred
and thirty five. This is twentythree, and now we're looking at market
forecast of like two hundred and fifteenbillion by twenty seven, so continuing to
grow at this pace. Here's myquestion to you, if you look at
(09:00):
those kind of stats that we're seeingthere on screen right now, and you
look at companies like thanks, isthis underreported because it feels like that's not
that seems loyalty wise, it justfeels like it should be so much bigger
than what they're talking about here,two hundred and fifteen billion out of four
and a half trillion. So we'rein the midst of a catch up period
(09:22):
in the restaurant industry. But thegood news is we already know where this
is going to go because we've seenit in other industries. There was a
period where hotels could debate whether aloyalty program was necessary for their business or
whether it was a discount driver.Loyalty programs are ubiquitous in hotels now,
(09:43):
and they're necessary because of the arrivalof online travel agencies which disaggregated hotels from
their guests and cost them margin.You know, I talked a lot about
this story and the four horsemen ofthe restaurant apocalypse. Loyalty programs create the
connection between a hotel guest and thehotel chain, and they've become a requirement
(10:03):
to exist. We are seeing thathappen in the restaurant industry. Where it
used to be you could decide,am I a brand that has a loyalty
program or am I not? Andfrankly, there's some famous examples. There
are executives from McDonald's Chipotle who yearsago said, yeah, we don't need
a loyalty program, it's not partof our brand. Those are two of
(10:24):
the fastest growing, largest loyalty programsin the industry, exactly, and so
loyalty programs are a requirement. Whatneeds to change is that if a restaurant
is running a loyalty program, asI said before, that's one size fits
all. Hasn't changed in ten years. I can blindly guarantee it's not driving
(10:45):
revenue for their business. Right now. That means more investment, more specialization,
innovation from technology, and restaurants don'twant to hear this is going to
be more spend on technology, marginsare already under pressure. Here's the good
news. A loyalty program done rightis a massive revenue driver. It's not
(11:05):
a cost center, and so it'snot like investing in your point of sale
or other operational things, which arejust cost centers. If you're doing it
right, it has many times multipleon returns in terms of driving revenue.
Coming out of a web three loyaltyplatform that was launched by a company called
Bubba Guys, we've reported on ita couple of times, and the numbers
(11:28):
that I saw coming back were almostI just couldn't believe them, you know,
So it was either just because itwas a new thing. I wasn't
really sure. My question to youis, do you see that we're going
to see an expansion of other typesof omni approaches toward loyalty other than the
(11:48):
traditional models that we've seen, sayin the last couple of years. No
doubt we are indeed seeing that exactthing. And one of the insights we've
reported publicly is we've had several brandswho have experimented, for instance, with
non discount reward models. One ofthe ones that I think is most interesting
(12:11):
are access to a secret menu.If I had told people several years ago
that a large chunk of consumers wouldhappily redeem their loyalty points for access to
a secret menu instead of a fivedollars discount, people would have said,
I'm crazy and that's why everyone wasgiving out discounts, and then you know,
shaking their fist at why is mydiscount line so big? You need
(12:33):
to think about loyalty differently. Itturns out many customers prefer exclusivity, they
prefer access, and you can createprograms around that that drive frequency and drive
attachment without a single dollar in discount. Yeah. This is something we've done
even within our own media companies,is we've created more closed groups and now
(12:58):
and we have's on how many peoplecan be in those, and I mean
they're full, They're full all thetime. You know, we have people,
you know, what can we doto get in this program? You
know, because it's usually access toadditional research data all that kind of stuff.
So I would agree with you.I think that that's going to be
an interesting tactic. You know,from the stance of how do you grow
(13:20):
you know, not only brand loyalty, because that gets here back to the
point I had earlier, which iswhere gen Z seems to be not very
brand, you know, consistent.Hey, what do you think about You
look at the impact on restaurants,you know, over the next couple of
years, and you think about thehot sectors and the sectors that have been
(13:41):
cooling off. And I'll give youan example, fast casual it's pretty much
been a hot sector for almost adecade and a half. Then you have
QSR, which really has started tochange quite a bit, really positioning well
in a better way, Casual diningtrying to make some move, and even
fine dining to a certain extent,traditional chain find dining probably a little bit
(14:03):
lackluster because we're seeing the independence kindof invating that space. What are your
thoughts in terms of the sectors thatare hot right now? So here's the
good news. I believe they allhave potential. And that's not just rosy
optimist. I actually believe that wehave an industry that is behind in technology
(14:28):
and in behind in data. Yeah, and yet is a trillion dollar industry.
That's remarkable. You can't find thatthere are not massive, hundreds of
million dollar e commerce businesses who havea broken digital footprint and don't use data.
(14:50):
It literally doesn't exist. It's impossible. So we're doing a lot right
to create great experiences something that consumerswant, which is great food in a
way that they don't have to makeit. And now it's about adapt to
the way consumers are changing their behavior, which was accelerated by five six years
(15:11):
with COVID. Convenience. Convenience,convenience, and at the end of the
day, loyalty is there's only somuch you can do from a marketing standpoint
if the actual experience of getting yourproduct is not convenient and easy. Right,
Yeah, totally agree with that.You talk about tech and the restaurant
(15:33):
industry being some This has kind ofbeen the knock on the restaurant industry for
a long time, is that it'sslow to adopt new technologies, new methodologies.
I think COVID, of course,kind of changed the landscape of that,
but at the same time, we'vehad a lot of companies now starting
to regress a bit. Here's astory, you know, as an example
toast, you know, just cutlike five hundred and fifty people and you
(15:54):
look at the tech sector as awhole do you think this is going to
be something that is going to stickaround and we're going to need I mean,
because this has been I mean youlook at Elon's he comes in and
he cuts ridiculous numbers on Twitter andX. You look at Mark over at
Meta, I mean, he kindof did the same thing. A lot
(16:15):
of repositioning in big tech. Nowyou look at these, you know,
more sub sector tech like what wedeal with in the food service space.
Do you think there's going to bea reset here on the number of tech
companies and the number of products we'rebeyond the restaurant space. We are seeing
that reset for sure, as wesee a market adapt from growth at all
(16:38):
costs to are you building a longterm sustainable business? And all these tech
companies are adapting there, and youknow the challenge is most of them sell
to other tech companies, so youget this kind of reinforcing cycle. The
good news is, in many ways, restaurant tech has not benefited from that
(17:02):
growth at all costs environment because restaurantsare slow to adapt. And so I
actually think it's a healthier tech sectorand one that has more growth opportunity than
more wax sliding opportunity. That said, one of the challenges speaking transparently for
this industry has been an understanding ofwhat good technology looks like. Restaurants often
(17:26):
try to buy the cheapest solution,and unfortunately they don't get the results from
it, and there's a challenge there. And so I'll give you an example.
Your chicken costs go up. Asa restaurant, you understand, Look,
there's inflation and this is the realityof the market, and I'm going
(17:47):
to have to make a decision toeat margin or pass this on to my
consumer. And there's not much Ican do about it. And yet restaurants,
when they look at their technology platformssay I want more data analytics in
real time, I want to sliceand dice my information more ways, and
I want my partner to be moredynamic in the ability to do that.
That's based on some very expensive engineers, some very expensive technology like snowflake,
(18:11):
and those costs are going up aswell, and so restaurants have a decision
to make and we're trying to helpmake that easier by saying, can we
invest in technology prove that it drivesrevenue so that we get the right virtuous
cycle. Invest more in technology,get more revenue, continue to invest and
(18:33):
go the right direction because that's beena leap of faith. That's really scary
for restaurants. And understandably, youspend more money on the newest and greatest
point of sale, does it alwaysmean you've driven revenue for your business?
Often? No, all right,Zach. So when when you think about
it that way. One of thethings that there's been a handful of companies
(18:56):
that have done some acquisitions out therein terms of technology. This is an
example Aspire Brands. They acquired atech delivery firm FROMO and there's been others
out there. You look at Chippota, who's invested in an autonomous delivery,
and a handful of others. Doyou think that is something that is a
(19:17):
new normal for restaurant brands to actuallystarting to get into the tech industry.
It may be a direction we seerestaurants go. These things go in cycles.
I do not believe it will bea long term status quo for the
restaurant industry. Greg Creed for Mercyof Young is on our board and he
(19:38):
likes to say that restaurants do bestwhen they focus on the things they're excellent
at, creating great food, greatexperiences and being a marketing organization. At
the end of the day, Itend to believe that's true. Our business
and building technology for restaurants is awhole lot different, and I think specialization
(20:00):
is often good for driving the bestoutcomes. So I think we'll see some
of this there. There was anothernews article about Wingstoff reducing some of their
technology and building it in house.You know, they're they're deleting Olo as
an example. That's a very expensiveinvestment and the bar is really high for
(20:21):
that to pay off. We'll seesome brands can pull it off, but
most probably can't in my estimation.Well, and you know, we look
a lot in the sector around newinnovation in in tech and while I agree
somewhat with because I have a lotof restaurant operators that kind of tell me,
you know, we're not in thetech industry, and I'm like,
(20:44):
well, you used to not bein the marketing industry either, but you're
you know, you're in the marketingbusiness now, and it's it's going to
happen. I think we're going tojust see so much tech invasion that it's
just it's just a matter of timebefore technology kind of be comes like marketing,
you know, to h to restaurantoperators. Whether it's as easy that
(21:04):
I don't know, but you know, so when you think about that and
you look at AI self ordering loyaltysystems kind of shifting into that. As
I said earlier, we had theconverse now guy on and I've had SoundHound
on one of a lot of thesevoice AI guys, which you know is
going to change some of the customerservice equation. But I just wonder will
(21:30):
well this new evolution, especially whenyou think AI but in self automated order
cycles more, you know, mobileordering, lead processes, et cetera,
is that going to also shift Ijust assume it's going to shift the loyalty
business into kind of a different thing. What are your thoughts on that?
(21:51):
Yeah, I think you know alot of the public company restaurant leaders don't
want to say it, but theinitial implication of AI and restaurants will be
cost savings initiatives, and ultimately that'sin the face of rising labor costs,
and so it's not a popular thingto say, but that's what they're actually
targeting. And I think we're undoubtedlygoing to see more of that when it
(22:15):
comes to self ordering. When itcomes to automating things that are expensive back
of house in the kitchen, that'scoming and it's inevitable as far as I'm
concerned. The question then becomes onfront of house application of AI. You
know, the big moment in AIright now is generative AI. There's these
incredible models that open AI is producingon Write three sentences and they can make
(22:40):
you a video. Do I thinkthat's going to have an implication for restaurants.
No, it's sexy. People wantto talk about it, but at
the end of the day, youactually hit on it. Before restaurants are
marketing organizations, they have to beunique. No AI model is going to
make you a world class marketing organization. Where I do think it's going to
(23:02):
be effective is the effort to treatyour guests individually. Five years ago,
send out an email to your entirelist of two million people, cross your
fingers and hope they engage. Today. Thanks offers you hundreds of pre built
segments so that you can treat yourcustomers as unique groups of people. But
it's still not one to one marketing. The vision ultimately is you can understand
(23:27):
very deeply what makes Paul and Zachdifferent and send the right message at the
right time. And by the way, e commerce has been doing this for
a while, sending ten thousand variantsof the same campaign based on micro segments.
I think we'll get there in away that it's not a restaurant marketer
(23:47):
slicing and dicing data and manually creatingcampaigns that will never scale. Yeah.
So I guess I'm still skeptical alittle bit on where AI will insert,
but that is one of the areasthat I do think could could open up
in this. I mean, wework now with some AI tools around some
(24:08):
of the big data that we ingestfor some of our other businesses. And
one thing that I'm continuously surprised atat one at how inaccurate it is unless
you ingest a language model in thatgives it a new learning tool. And
I guess that's my question is doesthe does the customer at some point,
(24:30):
you know, kind of like thepersonalization aspect of trying to create that customer
relationship. There's a lot of thingsthat Chipotle doesn't know about me, but
I could be happy to tell themabout getting my order right. I could
go down a litany of things allthe way down to how you deliver it
to my front door. You know. So if they had that data and
(24:51):
an AI model, a language modelcould take that from millions of customers,
multimillions of customers and then create whatyou're talking about, which is kind of
this custom experience that truly is almostlike another person that knows me personally and
says, I know that Paul can'ttake a delivery before five o'clock on Wednesdays
(25:11):
because he's got his kids in violinclass. Yep, So why would I
come early on that? Which happensall the time? Okay, So those
kind of things that and that causesme to always kind of pause for a
second. Okay, am I doingtakeout tonight with Chipotle? Or am I
going to go drive over there?Now you've potentially threatened your opportunity to engage
(25:36):
with me, because now I'm loosein the world. I can stop at
Panera instead of Chipotle on the way. It's just right here, I'm just
going to go there. That isexactly right, and that's why it requires
more and more data points. Andby the way, going back to our
should restaurants be tech companies? That'salso why technology needs to exist outside the
restaurant, because you could have asmuch data about what your customers doing with
(26:00):
you, But if you aren't testingit at what customers are doing with lots
of other brands, your training setfor this stuff's just not large enough.
We've sent way more campaigns out thanany one of our restaurants could ever send
on their own, so we havefar richer data to understand what is predictive
of future behavior than any single restaurantcould. Yeah, this is going to
(26:25):
be interesting to see how this evolvesin them, you know, in the
coming years, because I think itwill take some time for a lot of
operators. When you look at theoperators that are out there right now,
is there anybody that sticks out inyour mind? I hate to put you
on the spot, but in termsof companies that even if it's just give
me an example of somebody that isdoing it right, who would you say,
(26:45):
maybe one of your best customers,Who would you say this guy is
really they got there, They've they'vezoned in on what the future is and
they're they're locked and loaded. Well, i'll give you. I'll use public
comps because it's probably easiest. Allmy insight is not quite as exclusive as
you might like. But Chipotle wasahead here, focused on what I would
(27:08):
consider the new definition of loyalty,what we call loyalty three point zero status,
convenience, exclusivity. They ran GUALCmode. They created access to their
case ada through digital and you couldn'tget it intore. They were doing a
lot of stuff that put them wayahead, and their stock price benefited.
They were head and shoulders above theFood and Beverage index for a while.
(27:30):
Now is Chipotle missing on their executionright now? In my opinion, know
what's happening is others are narrowing thatgap, and that's partially what's driving the
current trend. I'd say the othersorry, go ahead. That's interesting because
I think you're right. You know, we've seen it not only in sales
numbers, but also consumer sentiment,which has been ironically trending down with Chipotle
(27:56):
here over the last three to fourmonths, we've seen ticks in the armor
starting to trend down. I don'tknow if that's the customer just getting fatigued
or what's happening, but there's someinteresting things happening. I think that's the
challenge of building tech yourself. Thebars constantly raising. You can't just get
ahead and then it just sustains.You have to keep pushing innovation because others
(28:17):
will catch you. And that's verychallenging. That's a constant rat race that
you have to be on to stayahead or that gap starts starts trending down.
And I think we're seeing that inwhat you described. I think that's
the burden of success here. Thereare other stories. I actually think Sweet
(28:38):
Green's loyalty strategy is excellent. Whoever'sthinking and designing that strategy around challenges that
are truly personalized, so that athree time customer gets an incentive only when
they come a fourth time in amonth. That is absolutely the direction we
see things going from a loyalty standpoint, and yet it's not yet driving the
(29:00):
results that I bet that that brandwould want to see. And I think
partially my guess is that's a lotof technology that had to be built on
their own, which means innovation isburdens I think so quickly. Yeah,
(29:21):
I mean you guys are constantly developing, reiterating things of that nature. You
know, from a tech side,this is part of what a tech company
is, you know, it's it'sconstant reinvention of Okay, everything that happened
in two point zero is doesn't reallymatter. Three point zero is the new
version. So I get that,you know. I remember the day is
when I worked with Microsoft and wewere running you know, the original you
(29:44):
know, launches of a lot ofthe OS systems, and it was that
very same thing. We almost endedup doing complete new engineer teams in many
cases, even though there might bea lead engineer that jumped over from the
existing version set that we were on, a lot of times it was a
brand new team, you know,because they're dealing with a whole new model
and they wanted fresh ideas. SoI get that for sure. This is
(30:06):
always fun to chat with people inthe in the business like this, Zach.
So it's going to be it's gonnabe great. But thank you so
much for coming in on the showtoday. We appreciate it. Absolute pleasure,
you bet all right. So,if you guys are tuned in right
now, maybe on the audio versionof this podcast. You can catch the
video version of the podcast just bygoing over to save dot fm. This
(30:26):
is our sub stack, so makesure and subscribe on to the substack.
You'll get an email you'll get inthe loop of a lot of our other
podcasts that we have on there,including art which is our Accelerate Restaurant Hospitality
technology podcast. We also do hof course Restaurant hospital or excuse me,
the Restaurant Report, and then alsoa Fast Casual Nation. You don't want
(30:48):
to miss that one big one.So all you have to do again Savor
dot fm is all you have todo and you'll be there. Hey,
Zach, it's been great having youon the show. If anybody wants to
check out Thanks, what's the bestway they can find you? Check us
out at thanks tha n X dotcom. And I talk a lot about
this stuff on LinkedIn, which hasbeen a good platform for us to try
(31:11):
to educate the industry. So lookfor me there and follow me there.
You got it. We'll see youlater. Thanks again for stopping in.
Zach, were absolutely all right.So guys again, like I said,
you know, the first of all, thanks for all the comments on the
show. We appreciate your input andyou know, sometimes we'll throw out ideas
(31:32):
that we're working on. One thingI want to make a represent a recommendation
to you guys, is we havea new program that is launching this year
called Brand Breakers, and it's ait's basically an award mechanism that's going to
look at the best brands and marketingtechnology and branding those three elements and selecting
the top ten every quarter and thenat the end of the year, we'll
(31:55):
be doing a big award system.So check out. We'll be talking a
lot more about it. We'll havestuff on the website soon talking about brand
Breakers, But make sure and checkthat out when you guys get a chance,
and we'll catch you next time righthere on the Restaurant Report
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On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com