Pay later option boosts Salt Meats Cheese’s order value by 60%
Plus more repeat customers.
Most Australians love to go out for a bite to eat. But sometimes, dining out can be expensive and customers need to factor this cost into their budget. Buy Now, Pay Later (BNPL) platforms allow customers to spread their payments out over time, making the dining experience extra appealing. Not only can they help by providing more financial flexibility, but they can also encourage customers to come back more often and spend more per transaction.
One restaurant group that has been embracing these opportunities is Salt Meats Cheese. With locations in Brisbane and Sydney, Salt Meats Cheese offers diners a family-friendly Italian dining experience, complete with cooking classes and retail options.
In order to reach a wider audience and increase order values, Salt Meats Cheese decided to offer a pay later option. This allows diners to enjoy their dining experience when they like, but pay later through four instalments, making it more convenient for younger demographics who are heavy adopters of BNPL platforms.
A new way to pay
Buy Now, Pay Later is a growing trend in the hospitality industry, with more and more restaurants offering this option to diners. BNPL provides customers with the flexibility to pay for their meal in instalments, thus making dining out more accessible.
It also allows restaurants to increase their order values, as customers are more likely to order more and upgrade their meal when they have more flexibility to pay the bill.
Salt Meats Cheese is one of the first restaurants in Australia to offer BNPL, partnering with payo to provide this service to their customers. And since it's a new concept for hospitality, they've been working hard to educate their customers on how it works.
The partnership focused on developing mutually beneficial marketing initiatives, including the creation of co-branded materials and communication to diners about the new payment option.
One of the most important channels for communicating the new payment option was email marketing. Salt Meats Cheese sent out email campaigns to their members, letting them know that they could now pay for their meal with payo. Not only that, Salt Meats Cheese discovered that they are also able to extend great discounts and special offers to customers that pay with the app.
In addition to email marketing, Salt Meats Cheese also used social media to reach their audience. They frequently showcased payo on their channels, highlighting the benefits of the new payment option. Payo, in turn, engaged with their large audience to promote Salt Meats Cheese alongside the option to spread their payments and the availability of good discounts.
"Payo also coordinates influencers who come into our venues to create unique and engaging content that is then amplified across social media. This helps us reach new and relevant audiences," said Stefano De Blasi, director, Salt Meats Cheese.
In addition, payo's Thank God It's Monday campaign became a key driver of traffic to Salt Meats Cheese on what is traditionally a slower day of the week. The campaign offered exclusive discounts and deals to payo users, which helped increase foot traffic to the restaurant.
The results
Since going live with payo, Salt Meats Cheese has seen a significant increase in their average order value from payo customers. The average order value is 60% higher, with customers coming back 3-5 times since their first payo transaction.
"We've been really happy with the results so far. The partnership has helped us to reach new audiences and increase our order values. Payo is now responsible for over 5% of our venues' transaction volume," said De Blasi.
And with more customers coming in to order a wider variety of dishes, Salt Meats Cheese is able to understand their diners better and adjust their menu and offerings accordingly.
“The best part of this new partnership has been watching our customers enjoy new experiences and delicious food, or upgrade their meal with that extra entree or dessert, whilst being able to pay on their own terms," De Blasi added.
Taf Chiwanza, CEO and co-founder of payo, said: "We're thrilled to be working with such a forward-thinking and innovative restaurant group like Salt Meats Cheese. The hospitality industry is constantly evolving and we're excited to be at the forefront of this change, helping restaurants increase their order values and reach new audiences.
