Explore the art of discounting and when to offer discounts at your restaurant the right way. As a restaurant owner, you want to attract customers and boost sales. And what better way to achieve this than by offering enticing discounts? Discounts serve as a powerful tool to attract customers. However, it’s vital to not rush into any discounting without a plan and strategy. Discounting too frequently or without a well-thought-out plan can inadvertently diminish the value of your establishment, giving the impression of desperation for business.
In this article we’re going to work together to help you create a strategy that will elevate your restaurant and also leave customers craving for more. Get ready to embark on an exhilarating journey that will take your business to new heights!
The Pros and Cons of Discounting
Offering discounts at your restaurant is like rolling out the red carpet for new customers while giving your existing ones a reason to keep coming back. But, before you dive into the exciting world of discount programs, let’s explore the pros and cons.
Let’s start with the Pros:
- Attract new foodies: Discounts attract new customers to experience the delicious food at your restaurant. By offering them a taste of what you’ve got without going all-in on the full menu prices, you’ll have them hooked!
- Boost your sales up a notch: Discounts aren’t just about attracting new customers; they can also help convince customers to go that extra mile by ordering more or venturing into uncharted flavor territories.
- Build customer loyalty: Loyalty is the name of the game, my friend! When people know they can score awesome discounts at your place, they’ll be more inclined to come back time and time again. It’s like building your own mini fan club!
Now let’s uncover the Cons:
- Watch out for revenue dips: Offering discounts may lead to a temporary dip in revenue if those price slashes are too frequent or too steep. Striking that perfect balance between enticing offers and maintaining profitability should be high on your priority list.
- Don’t devalue your mouthwatering offerings: Remember, moderation is key when it comes to discounts. If they become too commonplace, some customers might think that your regular prices are sky-high and lose appreciation for what you bring to the table.
- Beware of bargain hunters: While discounts attract all sorts of amazing customers, there are always a handful who swoop in solely for the deals, never to return. Be mindful of this and ensure you save space and resources for your loyal regulars.
When to Offer Discounts
Giving out discounts can be a fantastic way to boost the number of people visiting your restaurant. But remember, timing is key if you want to make the most of these discounts. One great opportunity to offer discounts is during slow periods.
For instance, let’s say Tuesday nights are typically quiet at your restaurant. Offering a discount specifically on those nights can help attract more customers and fill up those empty seats. Another ideal time to consider is during special events or holidays. By offering discounts for occasions like Valentine’s Day, Mother’s Day, or New Year’s Eve, you can entice customers to choose your restaurant over others.
Providing discounts to loyal customers can go a long way in building a strong customer base. You could offer discounts to those who have dined with you before or who have signed up for your loyalty program. Lastly, don’t forget about large groups! Offering discounts for corporate events or family gatherings can help draw in more business.
How to Market Your Discounts
Alright, let’s dive right into it! When it comes to marketing your discounts, you need to start by getting to know your target customers inside out. Who are they? What do they like? Once you crack that code, you’re on your way to tailor-made discounts that will make them go wild with excitement!
Let’s say your target customers are young families. You could offer mouthwatering discounts on family meals or even throw in a free kids’ meal when they purchase an adult meal. Boom! That’s how you win the hearts of those family-oriented folks and keep them coming back for more.
Once you’ve got your target customers locked in, it’s time to spread the word. Embrace the power of technology by utilizing your restaurant’s website, social media channels and email newsletters. Don’t forget to dish out all the juicy details like the expiration date, terms and conditions, and any sneaky exclusions. Oh, and don’t underestimate the magic of good old-fashioned signage — it can work wonders too!
Now here comes the fun part — get those creative gears turning! Imagine running a Facebook contest where customers can score discounts by sharing their favorite dish from your restaurant.
With these tips under your belt – attracting new customers and keeping loyal regulars couldn’t be easier!