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John Morris

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  • Business: Restaurant
  1. Digital marketing is the kind of marketing which is implemented through the internet. This is the same as online marketing. Nowadays, this is the most effective way to advertise your product. There are several channels of digital marketing, such as websites, email, social media, mobile apps, etc. Digital marketing perks The main perks of digital marketing over traditional marketing (such as television or offline advertisement, text messaging, etc.) is the clear statistic and understanding of which channel works better and is the most effective. It also has a high penetration rate than traditional marketing because digital media is present anywhere where there is an internet. Digital marketing is very closely linked to inbound marketing, search engine optimization (SEO), contextual advertising (PPC), and online video marketing (Youtube marketing).
  2. Customer acquisition cost definition Customer acquisition cost (CAC) is a cost, which you spend to engage a potential customer to buy your product or service. It is used for marketing expenses calculation. It is especially effective in e-commerce and SaaS, where marketing analytics can be more clear and the expenses calculation more accurate. The CAC evaluates the efficiency of advertisement campaigns. Simple CAC calculation formula is: CAC = Acquiring costs / Number of customers where: Acquiring costs = all the costs spent on acquiring customers Number of customers = the number of customers acquired in the period the money was spent For example, the company spent $500 for PPC online advertising and acquired 100 new customers. CAC is $500 / 100 = $5. CAC can also be calculated for some custom time period, for example, one year. Please note, that there might be a bias in some cases, especially for CAC calculation in a time period. There are other factors, such as past campaigns, that can affect the outcome in a given time period. For example, if you invested money in the brand promotion last year, this also affects the CAC (positive or negative) of the current year. Companies use the CAC to analyze an advertisement campaign to optimize and reduce marketing expenses. Also, the CAC is used by investors to evaluate the company’s profitability determination and scalability.
  3. Restaurant Week is a popular restaurant promotion in the US. During this time, restaurants offer prix fixe lunches and dinners at a fixed price that are lower than usual. Typically, this promotion runs for a week. Classical restaurant weeks are held twice a year, once in the winter (January/February) and once in the summer (June/July). Restaurant Week is most popular in New York City, where it was invented (in 1992). What are the Restaurant Week’s pros The greatest benefit for restaurants is a higher number of visitors, and revenue increases more than 40% in some places. Some restaurants use this promotion to earn a good reputation and increase customer loyalty. Generally, the Restaurant Week promotion is organized by city administrations to showcase their area and for tourism increase, since it is a good advertisement for the location. It is good not only for the restaurant industry but also for other linked businesses such as hotels, tourist services, retail stores, etc. Generally, all restaurants in this area participate in this promotion.
  4. How to calculate the cost of goods sold?
  5. Here is good visualization about world's money http://money.visualcapitalist.com/worlds-money-markets-one-visualization-2017/ According to this infographic, the total value of the world's money is $90.4 trillion. Of these, only $7.6 trillion is physical money (coins and banknotes). It is 8% from total amount of money.
  6. Here are some McDonald's salaries in 2018 in the US for popular jobs (hourly): Crew Member $8.63 per hour Fast Food Attendant $8.26 per hour Team Trainer $8.38 per hour Cook $8.52 per hour Swing Manager $9.87 per hour Grill Cook $8.50 per hour Cashier $8.45 per hour Store Manager $10.70 per hour Assistant Store Manager $12.18 per hour Floor Supervisor $9.85 per hour Shift Manager $10.08 per hour Manager $10.14 per hour General Manager $12.59 per hour Guest Service Agent $10.39 per hour Lobby Attendant $8.52 per hour Customer Service Manager $9.80 per hour
  7. Actually, you can try. Work length of 80mm printer is 72mm and theoretically, 76mm paper can work well. Perhabs paper will be floating from edge to edge, and a receipt will be crookedly printed for that. But maybe it is not critical.
  8. It is generally believed that the oldest cafe in the world is the Café Procope. It was opened in 1686 in Paris by Francesco Procopio dei Coltelli (1651-1727). He was a Sicilian chef and known as a French entrepreneur and pioneer in the ice cream retail. At the time in Europe, coffee was considered an exotic beverage. The cafe was known as a pleasant place, and throughout the 18th century, it was a meeting place of the modern intellectual establishment. Café Procope in nowadays
  9. There are several different approaches to calculate the customer lifetime value (CLV). They depend on which data you use. And every way is differed by accuracy and complexity. The simple customer lifetime value formula is: CLV = APC * ACL - CAC APC - annual profit contribution per customer ACL - average customer lifetime CAC - cost to acquire the customer. Another simple formula: CLV = AOT * ANP * ART AOT - Average order total ANP - Average number of purchases in a year ART - Average retention time in years. Customer lifetime value helps you to understand which of your customers or sales channels are more profitable. Also, you can use CLV to classify customers by importance and allocate them to groups and customize marketing strategy for each one. This is a key indicator in planning customer retention strategy.
  10. "You can make a positive out of most any negative if you work at it hard enough." When Sam Walton lost his first store because of termination of the lease agreement he didn't give up and started over again in another town with the existing experience. And next time he couldn't bear the same mistakes. And who knows, if this situation did not come, maybe Sam Walton have lived in the same town and kept the same one “Benjamin Franklin” store, and his business was just done in his town.

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