Jeremy Julian

Podcast

224. Restaurant Technology Guys Podcast Ep. 224 – Understanding Instant Financial: Innovating in Fintech and Disrupting Payroll Practices with CEO Tal Clark

March 18, 2024

An Introduction to Instant Financial

Instant Financial is a leader in the FinTech industry, transforming age-old financial practices and uncomplicating payroll systems. In a recent podcast, Jeremy Julian interviewed Tal Clark, CEO of Instant Financial. They discussed the company’s solutions, features and impact in the restaurant industry. They talked about the importance of facilitating access to earned wages and tips and how Instant Financial is helping democratize finances.

Breaking Down Financial Barriers

The financial landscape, particularly in the restaurant industry, often presents challenges for employees. One significant challenge is traditionally bi-weekly or monthly paycheck cycles, leaving those living paycheck-to-paycheck in limbo.

Clark introduced Instant Financial’s solution to this problem by providing access to earned wages on demand. He argues that allowing employee’s access to their earnings when they want it would offer a way to address potential emergencies and avoid resorting to unfavorable options like payday loans, borrowing from family or friends, working extra shifts, or selling personal belongings.

Demystifying FinTech

When the conversation turned to FinTech, a term often misunderstood or misapplied, Clark provided a simple yet effective definition. In his words, FinTech is about “using technology in the financial space to enable access, for consumers and businesses, and improve the way that people receive and send payments.”

Embracing a Change in Payroll Practices

Instant Financial’s solutions are all about providing employees with access to their earnings in an efficient and cost-effective manner. This includes both earned wages and tips. For earned wages, Instant Financial provides offers to the employees based on hours worked that they can choose to accept via the Instant app.

For tips, the methodology is different, as 100% of the tips are available for payout. The management of tip distribution to each employee is straightforward. The company uses census data to identify who has earned a share of the tips, and a simple allocation process ensures the right staff member gets their fair share.

Looking Ahead

Instant Financial is ambitious about moving away from traditional payroll systems and replacing them with more flexible and friendly solutions. Today, we are witnessing how Gen Z and Millennial populations are turning to ‘neo-banks’ like Cash App and Chime for convenience and freedom. As Clark mentions, these new banks are the “fastest growers” in terms of account openings. That being said, products like Instant Financial serve as an important transition point from traditional payroll to on-demand payroll systems.

Final Takeaways

Instant Financial is at the forefront of a significant shift in payroll and tipping practices. Their solutions not only offer financial relief to employees living paycheck to paycheck but are also driving an essential change in how we perceive and handle payroll systems, making them more efficient, equitable, and user friendly.

The future of payroll and wage access is evolving, and it’s companies like Instant Financial that are leading the charge. As the traditional models of wage distribution continue to phase out, it’s an exciting time to witness the rise of such innovating, empowering solutions. In the wide ocean of financial choices, Instant Financial surely stands out as a beacon for positive change.

Check them out at Earned Wage Access, Free of Fees | Instant Financial

222. Restaurant Technology Guys Podcast Ep. 222 – Demystifying AI For Restaurants: Clear Cogs’ Recipe for Reducing Waste, Optimizing Labor, and More

March 4, 2024

Introduction
Artificial Intelligence (AI) is enigmatically sweeping across all industries, but restaurants, in particular, are one sector where AI can produce profound impacts, such as reducing waste, optimizing labor, and more. In this blog post, we delve into an enlightening conversation between Jeremy Julian, a seasoned podcaster, and Matt Wampler of Clear Cogs, a company at the forefront of providing AI-driven solutions to the restaurant industry.

AI in Restaurant Operations with Clear Cogs
Clear Cogs is an AI-backed company that provides solutions for restaurant operators. At its core, the company aids restaurant owners in managing food costs and labor, two significant expenses in the restaurant business. The unique aspect of Clear Cogs’ solution is that it isn’t a generic product. It is tailored to the specific needs of each restaurant, assisting them in making those daily critical decisions efficiently.

Addressing Food Costs and Waste
Clear Cogs has developed a solution that analyzes numerous data points every day, providing decision-making capabilities. For instance, their solution offers predictive pars – a product amount required at a specific time, basing this on various components, from customer traffic to weather patterns.

By using such AI-backed systems, restaurants can significantly reduce waste, calculate better prep amounts, and optimize food costs. Matt narrates an instance where one of their clients could identify 40 pounds of waste, directly saving on the bottom line.

Tackling Labor Efficiency
Clear Cogs has recently added labor management to its services. The company is not a generic sales forecasting entity. Instead, it dives deep into restaurant operations to ensure labor allocation matches the work. Instead of looking at the overall activities, Clear Cogs focuses on specific actions like making sandwiches or sending out deliveries and accordingly schedules the required labor. Such specificity allows restaurant owners to perform cost-benefit analyses and effectively manage their labor costs.

AI as a Predictive Tool
The conversation touches upon how AI serves as a predictive tool for restaurant owners, using long cook times or queues as examples. By using AI, restaurant owners can forecast the rush period and prepare accordingly. This predictive capacity becomes even more beneficial when it resonates with the brand promise, ensuring the customer always finds what they came for.

Making AI Accessible
Clear Cogs aims to make AI accessible for everyone in the restaurant business, not just the big players. They want their solution to be a one-stop shop for all the answers a restaurant operator might need in day-to-day operations. To bring this vision to life, they recently partnered with Toast and launched in the Toast marketplace. Now, any restaurant with Toast can have an AI-assisted operations planning system.

Conclusion
AI is not a buzz word or a fancy tech trend. Instead, it’s a robust tool that can significantly improve restaurant operations, addressing prime concerns like food costs, labor management, predicting demands, and more. Integration with POS systems has made it easier for companies like Clear Cogs to provide AI-assisted solutions. By integrating these systems into your operations, your restaurant can serve better, waste less, and profit more.

221. Restaurant Technology Guys Podcast Ep. 221 – Revolutionizing Restaurant Loyalty Programs with Hang: A Deep-Dive into Customized Customer Engagement

February 26, 2024

Introduction

Navigating the world of restaurant loyalty programs can often feel repetitive and uniform, leaving both customers and brands wanting more. Many programs operate based on a similar, one-size-fits-all model, leaving personalization and engagement, key facets to customer retention, unexplored. However, Hang, a next-generation loyalty software, is revolutionizing this model. Operating on a user-friendly and hyper-personalized basis, Hang aims to enhance customer experience and create long-lasting relationships between brands and their customers.

Understanding the ‘Hang’

With Matt Smolin, co-founder and CEO, at the helm, Hang offers personalized rewards instead of generic points, making each engagement with a brand a unique experience for the customer. It goes beyond the traditional cookie-cutter approach seen across the loyalty market and focuses on customizing consumer interactions and experiences.

Hang isn’t just for restaurants, but it particularly shines in this space. The software effortlessly connects with POS systems and attributes awards across multiple consumer touchpoints, including social media, in-person visits, online purchases, and third-party deliveries.

Individualized Rewards: Building Solid Relationships

One of Hang’s intrinsic identity elements is its personalization tactics, notably suiting the fast-paced, technologically advancing world where customers want to be seen and heard. Smolin believes in rewarding customers in a way that resonates with them personally and helps businesses increase customer lifetime value.

For example, Hang could offer a regular diner preferred seating as a reward, making them feel appreciated rather than just offering a standardized 10% discount. This approach not only helps retain customers but also enhances their brand experiences.

Transactional Spending: Creating Incremental Returns

Hang works by adding value to each customer’s visit or purchase. The typical points-based system is replaced with rewarding boxes or “mystery gifts”, providing an immediate reward with each transaction. This “mystery gift” could range from discounts to a call with a CEO, making the earning process a delightful surprise.

Hang isn’t just about creating an engaging loyalty experience but also ensuring proving its value for the brand. By driving incremental returns, loyalty changes from a cost center to a profit center. For the consumers, these incremental benefits encourage repeat visits and make the experience more personal, resulting in a whopping average increase in user spend on a per-user basis by 70 percent!

Success Stories: Building a Loyal Customer Base

A compelling example of Hang’s success in revolutionizing loyalty programs can be seen with Boba Guys, a fast-growing burger brand. By integrating Hang into their services, they could offer a range of rewards, from discount codes to newly launched product samples. This unique approach resulted in a fascinating case study, where a consumer tried a new product through a reward system and continued to order that new item over consecutive visits.

Besides, Hang’s API compatibility enables easy integration with brand’s existing tech stack and Point of Sales (POS) system. This integration offers native notifications, capturing user attention and ensuring customer retention and engagement, apart from the regular reward-based approach.

Conclusion

While many restaurant loyalty programs remain transactional and one-dimensional, Hang is redefining how brands interact with their customers. By creating a highly personalized, exciting, and interactive platform, Hang is cultivating rewarding and enduring relationships between customers and their beloved brands.

220. Restaurant Technology Guys Podcast Ep. 220 – Leverage First-Party Data with Vericast’s NXTDRIVE: A Game Changer for Restauranteurs

February 19, 2024

Every restaurateur seeks to drive customer growth through tailored and effective marketing strategies, unsuccessfully at times. However, Vericast exclusively presents a solution, enabling restaurants to harness on-ground customer data effectively. Their groundbreaking product – NXTDRIVE, designed specifically for data targeting and marketing, could revolutionize how restaurants fundamentally approach their marketing strategies.

Understanding Each Customer, One Household at a Time

Being one of the leaders in the print media space, Vericast provides critical insights on household level preferences, helping marketers craft more effective messaging. This knowledge extends to understanding households’ digital engagement patterns too. Fusing both these data segments presents a well-rounded picture of prospective customers.

One of Vericast’s main focus areas is everything digital. From display advertising, video integration on YouTube channels to distribution through connected TVs, Vericast does it all. Their most ambitious project yet, NXTDRIVE, seeks to integrate customer data from restaurants with their proprietary data from various digital touchpoints.

Pointing towards First-Party Data

First-party data implies any information collected directly by a brand about its customers. This data type could include express information like an email address or other behavioral data drawn through website visits or item purchases. What NXTDRIVE does extra is infuse this data with insights gleaned from Vericast’s digital interactions with the same customer. Hence, filling up the gaps and completing a full picture of each customer.

Herein, the real challenge lies in identifying multiple interactions as being from a single user. Vericast embarks on an intricate process called ‘identity resolution’ to consolidate different instances into one unified customer profile.

Personalization: The Cornerstone of Effective Marketing

In the known fact that consumers prefer personalized interactions with brands, especially Millennials. Accessing such level of customer data makes personalization completely achievable. Vericast’s NXTDRIVE not only captures customer data but also segments it into usable bits. With this understanding, brands can customize messages for each of their customers, improving the odds of driving favourable responses significantly.

For instance, recognizing a change in purchase behavior through detailed analysis of their buying records will enable specific ad targeting. The system facilitates a continuous learning process, where new data collected feeds back into the process, modifying recommendations and ad targeting continually. However, the critical component here remains a data analytics partner who can utilize these data trends and craft truly effective marketing plans.

Relevance and Timing: Key to Advertising

Direct and relevant advertising stands paramount to drawing meaningful customer interactions. Understanding customer behavior, geographic location, and optimizing timing can make ads more influential. Comprehending these aspects becomes more manageable with data-based insights that NXTDRIVE offers.

Moreover, NXTDRIVE presents an excellent space to uplift small-scale restaurants. The platform can tailor ads for them, enabling optimal resource utilization and maximizing audience reach. Data-based audience targets and insights provided by NXTDRIVE could significantly influence customer activity, making significant inroads into an untapped customer base.

Check out Vericast to learn how you can leverage NXTDRIVE for your restaurant chain.

219. Restaurant Technology Guys Podcast Ep. 219 – How to Turn Your Restaurant into a Media Powerhouse: Insights from Shawn Walchef

February 12, 2024

Introduction

In this world of technology and telecommunication, restaurants have more opportunities to grow their brand than ever before. Yet, some may ask, “how exactly can restaurants leverage their businesses into media powerhouses?” In this article, we discuss how to accomplish this feat, using the insights of Shawn Walchef, the seasoned owner of Cali BBQ Media, as shared on the Restaurant Technology Guys podcast.

Meet the Speakers

Jeremy Julian, the host of the Restaurant Technology Guys Podcast, sat down with Shawn Walchef, the highly successful owner of the Californian-based Cali BBQ Media for an exciting conversation. Walchef, known for turning his BBQ eatery into an efficient, sprawling digital media company, generously shared his nuggets on how restaurants can wield the power of digital media to increase their reach, influence, and profitability.

The Rise of Cali BBQ Media

Walchef revealed his extraordinary journey from owning a single BBQ eatery to operating four thriving locations. Furthermore, he expanded into the realms of storytelling, transforming his business alongside into a media house.

Walchef said, “So 2017 is, you know, really the significant turning point when we turned our BBQ business into a media business. We launched our first show – Behind the Smoke. It was more about marketing, storytelling, business. When I went to business school, I thought I was gonna get some great business lessons. The only time I was moved inside of business class was when an entrepreneur came and told me their story.”

Media as a Tool for Authentic Engagement

Becoming a media business was a pivotal philosophy articulated by Walchef, essentially disrupting the traditional restaurant marketing model. Shifting away from advertising to authentic storytelling, restaurants can create compelling content that resonates with their audience and builds a strong community around their brand.

Walchef expressed, “Why don’t you introduce yourself a little bit to our audience who might not know you? Start, start telling me every single day, what are you doing? What are you building? Bring us into your meeting. Like there’s a lot of things perfectly you can do today.”

The Need for Consistency and Authenticity in Content Creation

Success in the world of digital media isn’t achieved overnight. It requires consistency and authenticity, two elements strongly emphasized by Walchef. As businesses start sharing their journey, they may first find few people engaging with their content. But, with persistence, they can slowly gather a dedicated following and maximize their reach.

Walchef highlighted, “People fear putting something out that isn’t quality because of what other people will think. But truth vibrates the fastest. Start listening to shows like this. Start consuming content. If you’re surrounding yourself with more authentic, valuable content, you’ll improve.”

The Future of Digital Storytelling and Hospitality

According to Walchef, every business needs a digital-first approach, particularly brick-and-mortar brands. Businesses must harness the power of storytelling through audio, video, images, and words, putting content out fast and consistently.

The interview concluded with a resounding call to action from Walchef, emphasizing that people can change their lives and businesses by connecting and learning from people within their industry. He called out to both the audience and his fellow restaurant owners to face the challenge. “Please connect with me, connect with Jeremy. There are so many amazing people that are one DM away from changing your life and your business.”

Conclusion

In today’s digital age, restaurants can’t afford to overlook the power of digital storytelling. In addition to serving delicious meals, creating compelling, consistent, and authentic content can help to amplify your brand reach, connect with your audience, and establish your restaurant as an authority in the market. So why wait? Start your digital storytelling journey today, and see the profound impact it can have on your business.

218. Restaurant Technology Guys Podcast Ep. 218 – Unleashing the Power of LinkedIn Marketing: A Conversation with Justin Ulrich

February 5, 2024

Introduction

In the rapidly evolving world of business and marketing, the importance of having an effective online presence cannot be overstated. For B2B enterprises and a growing number of B2C businesses, LinkedIn has become a territory ripe for exploration and development. In a recent candid conversation with Jeremy Julian, Justin Ulrich, a marketing head at Evocalize, yields meaningful insights into how best to navigate LinkedIn’s treacherous yet reward-filled waters.

Social Media Superhero: An Introduction to Justin Ulrich

Justin Ulrich has led a fascinating career. From working a blue-collar job as an electrician straight out of high school to exploring the realms of tax accounting before finally finding his footing in marketing, his journey has been nothing short of an adventure. Currently heading the marketing team at Evocalize, a company specializing in automating paid digital marketing based on local data, Ulrich has worked in diverse sectors including telecom, payment processing, POS, SaaS, and even the off-road industry.

How LinkedIn Amplifies your Marketing

LinkedIn is a valuable tool for B2B businesses. It’s a platform where businesspeople spend time building their networks, making it a logical place to focus marketing efforts. When Ulrich joined Evocalize, one of the core challenges he faced was building awareness for the brand, which was virtually unknown in the restaurant industry.

Ulrich decided to target LinkedIn, knowing that was where his audience spent their time. He shared the brand’s content, connected with industry leaders, and supported his network for several months. When the time came to launch a podcast, he had a network of people willing to support and help him, not just because they returned the favor, but also because he had become part of their ‘inner circle’.

Lessons from LinkedIn Engagement

The key, Ulrich underscores, is to give back. The more you put into the world, the more it returns back to you. Building an audience on social channels makes sense only when you have meaningful content that audiences find engaging.

Check them out at Local digital marketing tools for franchises | Evocalize

Follow us on Social

Sign up for our monthly email

The RTG Update
Once a month we send the latest RTG Podcasts, news, and more right to your inbox.

○ Trendsetting restaurant technology
○ Tips on operations efficiency
○ Real world advice for restaurateurs
Recent Posts Archives Meta

Copyright

Copyright 2011-2024
Custom Business Solutions, Inc.
Privacy Policy Website managed by The Lorem Ipsum Co.