Introduction
Taco trucks and their popularity have come a long way over the past few years and they are here to stay. According to Statista, in 2019 the Mexican food truck industry was worth approximately .64 billion in the United States, growing by 7.9% is expected to reach .27 billion by 2022. With the success of the Mexican food trucks, it is essential to continue to increase taco truck sales and profitability.
This blog post provides a guide for Mexican food truck business owners to increase their sales, profitability, and success. Read on to find all the strategies you need to increase your TACO truck sales and profitability.
Develop a loyalty program to reward customers
There’s no better way to encourage customers to return to your taco truck than with a loyalty program. This could be something as simple as offering customers points for purchases that can be redeemed for rewards, or you could take a more personalized approach such as giving discounts or other incentives to frequent customers. This helps build a loyal customer base and will also boost loyalty and profits.
Creating a loyalty program can be a great way to increase sales and profitability. Studies have shown that customers who have a loyalty program in place tend to spend around 20-50% more and engage more with the products and services offered to them. Plus, loyalty programs help build brand loyalty, which increases the chances of customers returning to your TACO Truck in the future.
Tips and tricks for creating a loyalty program
- Involve customers in the reward system. Ask for feedback when developing your loyalty program and encourage customers to share their experiences to increase engagement.
- Have a variety. Offer multiple rewards that appeal to different groups of people. Change rewards from time to time to keep customers engaged.
- Make it easy to sign up for the loyalty program. Customers should be able to register quickly and easily, in person or with an app.
- Keep reward points easily tracked. Consider offering an app or website where customers can keep track of their points and rewards.
- Market your loyalty program. Promote your loyalty program and how customers can benefit from it.
- Make sure the rewards are worth it. Customers should feel like they have something valuable in exchange for their loyalty.
An example of how a loyalty program can increase sales and profits can be found below:
Calculation example
Suppose your TACO truck has 1000 customers in total, and among them 400 of them join your loyalty program and make 5 purchases each. For each purchase, customers receive 10 points which can be redeemed for rewards. Assuming that each customer spends an average of per purchase, your total revenue would be ,000. With a loyalty program in place, you could potentially increase that number to ,000, a 50% increase in profits.
Creating a loyalty program for your Taco Truck customers can be a great way to boost sales and profits. It will not only encourage customers to come back and buy from your TACO Truck, but it will also help achieve brand loyalty and increased engagement with your products and services. With the right strategy, a loyalty program could be the thing that helps you achieve your goals of increasing sales and profitability.
Improve the digital ordering experience
In recent years, digital ordering has become a hot topic, with more and more taco truck vendors offering customers the option to place pickup or delivery orders over the internet. Despite its popularity, it is easy to make mistakes when implementing a digital ordering system, which can lead to decreased sales and profits. To maximize the success of your Taco truck, follow these tips for a seamless and successful digital ordering experience:
- Make your online platform user-friendly. Your customers should be able to easily navigate your website or app, place an order, and make payments quickly and efficiently. If the checkout process is confusing or time-consuming, customers can go elsewhere. Invest in a streamlined ordering platform that customers can easily use.
- Promote digital control. Let your customers know that digital ordering is available by advertising the service on your website and social media. Include information about your menus and promotions and reach out with personalized emails or text messages to your existing customers. You can also offer incentives to customers who order digitally, such as discounts or special promotions.
- Optimize for mobile. With more and more people using their mobile devices to access the internet, make sure your website is user friendly and easy to use. This will ensure that customers can order from any device, which will likely increase sales and profits.
- Invest in back-end support. Having the right back support for your digital ordering platform is essential for a positive customer experience. Invest in the right technology to ensure orders are processed quickly and accurately and customers receive their orders on time. This will help you avoid order errors and frustrated customers, which can lead to increased sales and profitability.
Improving your digital ordering experience will help your Taco truck business stay competitive and increase sales and profits. The potential increase in revenue will depend on how many customers order digitally and how much they are willing to spend. For example, if you have 100 digital orders per day at an average of each, you will earn ,000 in revenue per day (100 orders x ).
Offer a discount for online/mobile orders
Offering discounts for online and mobile orders can be an effective way to increase sales and profits for your TACO truck. With online and mobile ordering, customers can place orders quickly and easily, saving your business time and money. Offering discounts for online and mobile orders can entice customers to use this service and will increase your Taco truck sales and profitability.
When offering discounts for online/mobile orders, it is important to consider the discount to be offered. You don’t want to give away too much money, but you also want to incentivize customers to choose your taco truck. A 10-20% discount is a good stage range, but you can adjust based on your individual sales and profit strategies.
Another important factor to consider is how you are going to promote the online/mobile discount. You might want to include it on your website, social media posts, or other publicity efforts. You can also offer the discount to customers who show up in your TACO truck. POS systems like Clover can make it easier to manage and track discounts.
When you decide to offer a discount for online/mobile orders, look at your bottom line. For example, if you offer a 10% discount on orders with an average sale of and your profit margin is 30%, then the impact on your profits would be small. x 30% profit margin = . Therefore, the 10% discount would reduce your profits by only .60 ( x 10% discount = .60). However, if you have a higher average sale and/or higher profit margin, offering discounts might have a bigger impact on your profits.
Overall, offering online/mobile order discounts can be a great way to increase sales and profits for your TACO truck. You can offer different discounts for different types of orders and promote them in various ways. Consider the amount of the discount and its impact on your profit margin before implementing the strategy.
Partner with local businesses to increase exposure
Partnering with local businesses to increase exposure for your TACO truck is a great way to increase sales and profitability. By partnering with a local business, both parties can benefit from customers who may not know either of them. This type of marketing gives you a much-needed bump in sales without costing your business extra money.
Getting the most out of this strategy will take collaboration and thoughtful planning. When approaching a potential business partner, make sure that you offer an attractive and mutually beneficial offer that not only helps drive traffic but also provides other incentives. Consider offering discounts, free samples, or some other type of promotion that will benefit both parties.
The potential impact of such a partnership on your bottom line will depend on a variety of factors such as the type of business, location, and how much you can offer. For example, if you partner with a retail business in a high traffic area, you may see an immediate and significant jump in sales. You can calculate the estimated profit impact using a simple formula:
Managed x Percentage Increase = Increase in Estimated Profits
For example, if your current income (before partnership) is ,000 per month and you expect to see a 20% increase in profits from your partnership, you can expect to see 0 in additional profits. each month.
In order to get the most out of your partnership, it is important to think about how you can use the partnership to its full potential. Consider offering promotions or discounts on partner products, or vice versa. If you are the one hosting the promotion, this provides a great opportunity to add more value and engage customers. You can also explore online marketing opportunities and collaborate on social media campaigns.
By partnering with local businesses to increase exposure, you can enjoy a significant boost in sales and profits. Be sure to create an attractive and mutually beneficial offer and take advantage of the potential online marketing opportunities available. With a little strategic planning, your taco truck business will thrive!
Create a referral program for customers
One of the best ways to increase sales and profitability in your TACO truck is to create a customer referral program. Essentially, a referral program rewards current customers for referring new customers to your business. There are many benefits to creating a customer referral program for your TACO truck that can dramatically increase your sales and profits.
The main advantage of creating a customer referral program for your Taco truck business is that it is relatively easy and inexpensive to set up. Most companies allow customers to refer friends and family via social media and email. With just a few clicks, customers can share your business with their contacts, making it a convenient way to reach new people. Additionally, you can offer incentives, such as discounts or free items, to customers who refer your business to friends and family.
Another benefit of customer referral programs is that they could dramatically increase your sales and profits. With every customer you gain through customer referrals, your profits and sales can increase. For example, if you have an average customer sale of and 20 customers added through a customer referral program, your sales increase by 0. This could have a significant impact on your bottom line.
Finally, customer referral programs can give your business more exposure. With more customers coming in through referrals, more people learn about your taco truck and try it for themselves. This could result in both multiple customers from unique referrals as well as new referrals from excited customers who want to share your business. This type of word of mouth marketing is very valuable because it could generate additional customers, and therefore revenue and profit, for your taco truck.
In conclusion, creating a customer referral program for your TACO truck is a great strategy for increasing sales and profitability. It’s relatively inexpensive and easy to get started, it can lead to more customers, and it could generate sales and profits. Why not try customer referrals and see what great results you could get?
Conclusion
Overall, employing different strategies to boost taco truck sales and profits can be very effective and profitable for the business. Develop a loyalty program to reward customers, improve the digital ordering experience, offer discounts for online/mobile orders, partner with local businesses to increase exposure, offer discounts and promotional offers regularly and leveraging social media channels for marketing can all help increase profits and success. Plus, creating a referral program to encourage customers to share with their friends and followers is a great way to promote your taco truck.
With the right strategies in place, you can build an efficient and profitable taco truck business. We hope this guide has been helpful in providing you with the strategies to increase your TACO truck sales and profitability.