In its e-book, 'Guest Lifetime Value, The Real North-Star Metric for Restaurants,' Olo defines it as the revenue generated from each guest throughout their relationship with a brand. It estimates that the top 5% of GLV drives about 30% of restaurant revenue. Repeat guests over the previous six months ordered 2.2 times more than the average guest! Earning a customer's loyalty will result in more repeat business and higher checks.
You do that by not only fulfilling their needs but anticipating them. It's no longer enough to provide quality food or goods at good prices. Shoppers and diners today want to feel that you know and understand them. They want a relationship that will grow and deepen over time. You bring that value to them and they'll bring dollars to you.
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