Study on OpenTable of American catering reservation O2O Enterprise

Catering booking Enterprises Inside, OpenTable is undoubtedly the most representative. For more than more than 10 years, all sorts of challengers have tried to shake or even replace OpenTable's status, but until today OpenTable remain strong competitive. Product consulting through the collation of its development process, revenue methods, product features, development strategies, marketing programs and to deal with the competition and other aspects of information, to carry out a comprehensive display for domestic counterparts for reference learning.

A Brief history

OpenTable more than 10 years, with its technology-leading Erb (Electronic reservation book) system has won the support of many catering businesses, while opentable in the user side to expand vigorously, the use of software systems and user orders to seize the merchant, Gradually established a certain threshold of competition, the development of a brief course as follows:

1998, OpenTable was established in San Francisco, USA, and began operation in 1999.

May 22, 2009, OpenTable successfully listed on Nasdaq;

October 2010, OpenTable acquisition of the UK's largest booking website toptable, outside the United States OpenTable also in Canada, Germany, Japan, Mexico and the United Kingdom and other international markets have related business;

In January 2013, OpenTable a 10 million-dollar purchase of local food discovery and sharing application Foodspotting company;

June 2013, OpenTable to buy mobile technology company Justchalo at 11 million dollar price;

July 2013, OpenTable became urbanspoon North America catering service provider and acquired Urbanspoon's Catering reservation management system Rezbook;

Second, Revenue mode

OpenTable take the consumer free, to the restaurant merchant charge way to obtain the revenue. OpenTable has more than 28,000 restaurant customers around the world, OpenTable to provide them with services to gain revenue, mainly divided into the following three aspects.

Scheduled Revenue (reservation): According to the effect of fees (pay-for-performance), through the OpenTable official website every success to bring a person to the restaurant, a fee of 1 dollars (such as the table has 4 people, the charge for 4 dollars) By booking on the official website or Facebook of the restaurant using the OpenTable software, OpenTable each head for 0.25 dollars: The orders taken by OpenTable's promotional list activities (such as 1000-item) are charged 7.5 dollars per head. 2013Q2 scheduled revenue accounted for 60.76%;

Subscription Revenue (Subscription): Monthly OpenTable to the merchant to collect ERB royalty (ERB Monthly Subscription), using the ERB system's basic functions to charge 199 dollars a month, Alternative paid additional services (such as more data analysis capabilities, personalized user analysis) are available on average at 270 USD per month. 2013Q2 subscription fee revenue accounted for 33.04%;

Other revenue (Other): Refers to the one-time software installation fee (Installation Fee), OpenTable to the restaurant installed Erb system, training restaurant staff How to use, installation fee standard is 1000 U.S. dollars, there will be promotional activities, the average down installation fee of 600-700 U.S. dollars.

Third, Erb product function

OpenTable use the online predetermined way to transform the catering industry, through the establishment of the ERB system to electronic restaurant inventory, through the website to attract online users booking the promotion of the efficiency of the meal. In addition to the predefined features, OpenTable's ERB system has several other features:

Scheduled management (reservation management): Manage the order, modify, cancel and confirm the reservation;

Customer Management (Guest Management): Tracking VIP users, including their contact methods, hobbies, to achieve better service or targeted marketing activities;

Table Management (table Management): Assist the restaurant staff in the table management, set a predetermined table, test table status;

POS Integration (POS Integration): Integrate POS into ERB system to obtain consumption data;

Report Presentation (Reports): Provides advanced analytics to improve dining efficiency

Iv. Development strategies

A word to describe OpenTable's strategy is to develop opentable by adding more catering businesses and attracting more subscribers. Offering more restaurant choices can encourage more users, and if more users are available, it can also promote opentable and more catering businesses. In order to reach the catering merchant and the user's forward circulation, OpenTable simultaneously in these two aspects exerting force.

Restaurant expansion: OpenTable ten years accumulated more than 28,000 catering cooperation merchants; OpenTable on the one hand continue to expand these high demand for the scheduled high-end catering business, but also on-line Opentableconnect products (Web end products, according to the effect of charges, 2.5 dollars per head to expand catering businesses that have a certain demand. OpenTable that the future in the number of restaurants to expand the growth of space, can provide protection for the long-term development of OpenTable.

International expansion: In addition to the United States, OpenTable also through international expansion to achieve the increase in catering businesses. In particular, the 201-year October completed the acquisition of the UK's leading booking website toptable, May 2012, the British side of the partnership to change the OpenTable system, greatly increased the number of merchants. OpenTable the number of cooperative catering businesses in several major countries are as follows:

Client partners: OpenTable has its own system, There is a good flow of users booking site OpenTable.com, in the enhancement of their own web site as a consumer decision-making entrance status at the same time, OpenTable also actively promote and other platform Web site cooperation, in a cooperative platform or website to provide booking services, scheduled processing links by the OpenTable of the ERB system is responsible for general cooperation on the site of the booking service The OpenTable logo, which expands the scope of the OpenTable user coverage.

Development of Mobile end: In order to adapt to the Internet consumption habits from the PC to mobile transfer trend, to seize the mobile end users, Opentble released a full platform, full channel mobile clients, updated second-generation mobile Web site; OpenTable has completed over 80 million of the cumulative predetermined head, For catering businesses to bring about 3 billion dollars in revenue, currently, OpenTable 38% of the reservation from the mobile end.

V. Marketing Solutions

OpenTable on the basis of its ERB system, in order to meet business marketing needs to provide a variety of solutions, in the grasp of merchants at the same time, explore for their own way to create revenue.

1000-point Program: is the OpenTable for catering partners to provide the results of the billing project: in off-peak dining time, catering merchants can provide greater concessions on the opentable to attract consumers, OpenTable in a good position for the promotion of merchants, each deal a single, consumers will be given by the merchant 1000 cents (equivalent to 10 U.S. dollars) as a preferential incentive, the merchant needs to give OpenTable each person the first 7.5 U.S. dollars cost.

Gift Catering Marketing (treatful): Treatful.com website was established in 2010 and was OpenTable acquired in August 2012. The process is: the purchase of restaurant coupons from the treatful Web site-treatful on behalf of the purchaser to the recipient (generally via mail), while notifying the restaurant-the recipient can go to the restaurant for consumption.

Private Catering Marketing (private Dining): OpenTable marketing for catering merchant's large banquet service, set up a special list, charge monthly fee of 99 per month.

Vi. Coping with competition

OpenTable since its inception, its relatively high fee policy has been criticized by all parties, many of the catering system business, web platform to rob the OpenTable market, and in the entrance, OpenTable and Yelp have a significant disadvantage; With the advent of the mobile internet era, The OpenTable poses challenges as more and more startups enter the local catering industry.

The price does not raise the charge standard: OpenTable charge is more expensive, this is criticized by the competitor, some merchant also complained, OpenTable in response to competition, stated that more than 10 years have not raised the service charge standard, has its own advantage in price Because the investment of the merchant in the OpenTable can make more output, even if some competitors offer more favorable price, the possibility of the merchant giving up OpenTable is not big.

Development of food and beverage reviews and Yelp competition: Catering reviews the start of Yelp established a partnership with OpenTable in 2010, but Yelp's intention to get rid of OpenTable is more pronounced, OpenTable a partnership with Facebook in August 2013 after Yelp acquired a catering reservation company Seatme (July 2013). In Yelp's core catering reviews, OpenTable also encourages users to comment, and in September 2012 OpenTable announced that it had accumulated 1500 reviews.

Enhanced mobility: The January 2013 OpenTable acquisition of local gourmet discovery and sharing applications foodspotting, followed by the acquisition of mobile technology company Justchalo in June 2013, shows that OpenTable is more focused on its ability to move. It should be said that the current opentable of hard software combined with the ERB system is overweight, part of the ipad based catering software providers are increasingly functional, cost less than OpenTable, which prompted OpenTable must speed up the smart terminal based on lighter systems.

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