I’ve said it before and I’ll say it again: one of the most exciting aspects of the Savored business model is the fact that we are able to appeal to two very different customers, namely our restaurant partners and discerning diners across the country. That said, at our core, we remain a yield management tool for restaurants and as such, our top priority will forever be driving quality traffic to our restaurant merchants at the times when they need it most.
Accordingly, we have built our business development and marketing strategy around distribution partnerships; in other words, rather than putting a heavy focus on amassing a large list of email subscribers who may or may not ultimately transact (of course we do this to some degree – we are data-hungry marketers after all!), we have instead placed a heavy emphasis on what I like to call transaction acquisition. To do so, we have partnered with leading brands in the industry such as Zagat and OpenTable to power their “deal” channels. Through these partnerships, we are able to significantly expand our marketing reach, thereby improving our fill rates on the empty tables our restaurants trust us to fill. This has been an incredibly effective approach for us to date, and a positive byproduct of the transaction acquisition strategy has been that we have freed up time to really assess and optimize our longer-term consumer retention considerations/analytics, meaning that when we do decide to pump the gas on the membership acquisition piece, we’ll be squeezing every nickel we spend until it screams.
Today I am pleased to announce our newest distribution partner, Google Offers, who will now be featuring Savored Signatures on its website, mobile app and in its email distribution to subscribers. (For those of you who have been heads down the past few months, our Signatures platform for special events is now live in New York, San Francisco and Washington DC and will reach all ten Savored markets in the next few months.) We are incredibly excited for the increased visibility the Google Offers partnership will provide for the Savored brand, and we believe that Google Offers’ unmatched personalization/targeting capabilities will allow us to continue to fulfill our commitment to driving value to both our restaurant partners (bringing them the “right” kind of consumer) as well as to eager diners nationwide on the hunt for special offers that resonate with their preferences. Be sure to check out our latest Signatures on both Savored.com as well as Google Offers!