Restaurants – its NOT about the food

Customer lifetime value is the game of the best restaurants
 
Good restaurants serve delectable food.
Great restaurants – they take amazing care of the customer.
 
 
 
Not enough restauranteurs grasp this intuitively.
( the ones who do are grateful for their apprenticeship )
 
Some restauranteurs believe their good food is the whole game.
They completely miss the value of building many long-term relationships.
 
A friend of mine (Fred) has a regular Friday dinner with his wife.
They always go to one of the same 3 restaurants.
They always go – because of how the staff treats them.
They’ve been doing this for years, buy wine and specials, and tip 20%+.
He regularly brings friends for – $500-$1,000 tabs.
 
The restaurants check on Fred when he doesn’t come in.
And have invited him to major family events.
That’s serious relationship building.
 
Fred can eat anywhere he wants – but those 3 restaurants get 95%+ of his dinning spend – for a decade.
 
Those three restaurants have very smart management.
They 100% understand customer lifetime value.
 
How do you approach customer lifetime value?