There are times when you need to “walk the talk” and times when you need to “talk the talk.” When you can speak confidently and intelligently about F&B (Food & Beverage) industry topics, particularly with prospective clients, you could gain some critical points to win them over and potentially add them to your portfolio.
Here is a quick starter list of restaurant marketing acronyms to get you on the path of looking and sounding smarter with your prospective clients, as well as those in the industry. These acronyms are commonly used among people “in the biz.”
LSM: Local Store Marketing
These are marketing initiatives focused on the local level or tailored for a particular location(s).
POP: Point of Purchase
Marketing materials used to promote products, services, or events at the restaurant, i.e., flyers, posters, banners, etc.
CRM: Customer Relationship Management
The technology used to interact with customers and potential customers to improve or strengthen relationships and increase profitability.
eCRM: Electronic Customer Relationship Management
Similar to CRM, but refers to electronic or net environments; i.e., intranet, internet, and extranet. This may include e-mails, websites, and other online marketing strategies.
DMA: Designated Marketing Area
This refers to media markets or regions pertaining to TV, radio, print, or the internet.