What is in this article?:
- Show-and-tell helps sell cocktails; Bayless takes to the stage
- Drought impacts prices; Rick Bayless' stage debut
• Get creative with cocktail marketing
• 'Yo' app could boost customer engagement
• Square as an alternative financing option
• Farmers expect record corn harvest
• Bayless to star in dinner theater production
A video showing how a Las Vegas restaurant’s signature cocktail is made doubles as a marketing tool that drives in-house sales of the drink.
Not only does Michelin-starred Andre’s at the Monte Carlo in Las Vegas serve top-ranked food, its marketing approach is sophisticated, too, as evidenced by a new video that shares the recipe and techniques its mixologist uses to make the restaurant’s signature Rye Rumble cocktail. Posted on YouTube, the video is paired with a promotional tie-in that could help it go viral.
On paper, the Rye Rumble seems a little involved. The recipe calls for 4 muddled raspberries, 2 oz. Bulleit rye, 3/4 oz. agave nectar, 1/2 oz. triple sec, 3/4 oz. lemon juice plus a dash of rhubarb bitters. But the minute-long video demonstrates how quick and easy it is to put this cocktail together.
You’ve heard of food porn? This video might qualify as cocktail porn. Merely watching a Rye Rumble being made will make most viewers eager to try this drink. But given the in-depth information Andre’s is sharing, won’t people just make their own Rye Rumbles at home?
They might, and some probably will. But many others will likely head to Andre’s to try a professionally made Rye Rumble in person. To encourage them, anyone who posts a YouTube comment beneath the Rye Rumble video gets a two-for-one deal at Andre’s bar, where the drink usually goes for $14. As well-thought-out promotions go, this one’s a beaut.
Hey bro, keep an eye on Yo, a goofy-sounding app that could become an important new way for restaurants to communicate with customers.
Yo, the free new app whose sole function is to let its users send the two-letter message “Yo” to their friends. Thought to be a joke at first, Yo has already found serious use among marketers. Major media outlets, Craigslist and Twitter have all bought into the Yo promise; could restaurants be next?
An article in the Wall Street Journal gives an inkling. “Yo's next iteration will let users send a link along with their ‘Yo.’ And a forthcoming service that lets any person connect an RSS feed to Yo means every blogger, website and media outlet on earth will be able to send push notifications to their followers, including links, whether or not they have downloaded a corresponding app.”
If you want to send customers offers and information about your restaurant, Yo could be one way you’ll be doing it in the future.
Square is putting a new spin on alternative financing for restaurants: borrow against future credit card transactions, repay on an open-ended schedule.
San Francisco-based business solution provider and credit card processor Square—largest customer: Starbucks—is going into a new line of business. Its new Square Capital unit will advance funds to businesses that use its various other services, with the payback schedule tied to future card transactions processed via the company’s payment processing system.
Businesses like restaurants that can’t qualify for a small business loan from traditional lenders already have the option of borrowing against future credit card receipts from other lenders. The risk is that future credit card receipts may turn out to be smaller, or may arrive at a slower rate, than anticipated. The Square Capital program removes much of the uncertainty from the payback process.
Here’s how the Square arrangement is different, according to a Square Capital release:
“With Square Capital, businesses sell a specific amount of their future card sales to Square and in return the seller receives a lump sum payment. Businesses automatically pay Square as a set percentage of daily card sales, so they pay more when sales are strong and less if things slow down. Square leverages its data-driven understanding of each business to develop unique offers for businesses with the expectation that sellers will complete their advance in approximately 10 months, although there is no set time frame. The total cost to the seller never changes, regardless of how long it takes to pay Square.”
You can find out more about this Square Capital program here.
Square is looking to expand the customer base for its other services, so there are strings attached to its offer. But it could take some of uncertainty out of the repayment process, so some restaurant operators may wish to give it a look.