760% Annual ROI with Voice AI for Phone Ordering

March 13, 2023

What kind of returns can restaurants expect when they deploy voice AI on their phone systems?

Many of our restaurant customers are delighted about quiet phones and the ability of staff to focus on other more-valuable tasks. Like serving customers in the restaurant or being more efficient with food prep.

However, voice AI also offers hard savings and additional revenue.

We developed a calculator that analyzed the results from two perspectives:

ROI on reducing staff labor costs
Net annual revenue gain by capturing up to 30% of missed calls

ROI on Reducing Staff Labor Costs

With an annual labor cost of $45,724 which includes salary and other training/onboard costs, a voice AI solution that augments a labor resource at a premium annual fee of $5998 provides an annual ROI of 760%.

Lower Labor Costs Plus Revenue Gain = $94,486.00 per Year

Restaurants can also see an annual revenue gain of $94,486.00 with voice AI. This is based on SoundHound research showing that as many as 30% of phone calls go unanswered — especially during busy lunches, dinners, holidays, and special events like the Super Bowl.

Customers aren’t willing to wait long when they are hungry for someone to answer: an estimated 50% of callers hang up after 90 seconds on hold (Source).

Many of our customers experience this situation, including Nicolay Poptchen, co-owner of AmeriBrunch Cafe in Las Vegas, who noted: “When we were busy, we had a one-hour wait at some points. It was just impossible to answer the phone. Nobody was even hearing the phone at that point.”

“We have seen an increase in phone sales of an average of $3,000 per month. And we saw a 50% increase in ticket orders from $20 to $30 per ticket.”
Nicolas Poptchev, Co-Owner of AmeriBrunch Cafe, Las Vegas

ROI and Revenue Gain

It’s clear that SoundHound for Restaurants provides many types of benefits: it offloads work from staff so they can focus on serving customers inside or improving food prep. Or it can create work efficiencies around staffing levels leading to a high ROI of 760% as discussed earlier. And it drives additional revenue gain as our voice AI system answers calls that busy restaurants often miss, leading to a revenue increase of $94,486.

SoundHound for Restaurants is like a permanent employee, always there to answer the phone and serve more customers.

For more information, visit SoundHound for Restaurants.

To find out what your restaurant can achieve with a voice AI solution, speak to an expert.