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Getting the food or drinks of a hospitality establishment to be cheaper for the customer is a form of loyalty.
We hate paying, food too. In the restaurant world, people don’t want to pay full price for their purchases.
Fast food companies know that very well, such as pizzerias, hamburgers, and others, who always have offers, constantly, and customers know it, so much that they don’t ask about the price, but about the promotion of the day.
I leave you some studies in this regard:
- 80% of people would go to your restaurant without knowing it, thanks to a promotion (RetailMeNot)
- 57% of millenial They look for coupons to eat in restaurants (Valassis)
- 34% of customers look for deals when looking for where to eat (RetailMeNot)
Knowing this, it is more than obvious to say that not all offers are suitable for your restaurant. That is why I leave you here six types of discounts that you can apply in your business.
1. The BOGO method
The BOGO method comes from the English “buy one, get one”, that is to say: “buy one, get one”. This type of discount is not a 2 × 1, nor a 50%, because you will only give an identical product to the one purchased. Do not lower the price if they do not want the second free.
If you cannot implement an offer to half of your inventory, then increase the value of the purchase to access the offer, for example: instead of giving a pizza for each one bought, give a small pizza in the purchase of two medium .
- It will help you to achieve the loyalty of your customers (Telepizza uses this method)
- Limit this discount on duration, frequency of appearance, and on products, because it can harm you in the medium term
2. Combined offers
The combined offers are what we commonly know as “combos”: it is about bringing together a meal at a lower price than the sum of their products separately. This saves your customers time.
This works in theaters: popcorn with soda, and a hot dog, at € 13, but if you buy them separately, they cost € 16, for example.
Create combos according to your clientele: dinner for 2, 4 or 6 people, Iberian breakfast, etc. Always cheaper than the sum of these.
Remember: the bigger the combo, the more inventory you move and the higher the profit margin you get.
3. Decrease prices over time
This promotion is very common in bars: the well-known happy hour. It is about offering cheaper products in a period of time, solely and exclusively. Although we associate it with bars, restaurants can take advantage of it.
Look for the busiest time in your neighborhood, for example, 2-4 pm, and reduce the price of the combos.
According to Statista, for customers the price of food is more important than drinks in a “happy hour”.
4. Discounts based on behavior
This discount is very typical in designated parties: offer a discount based on something that customers do. Let’s say, for example: 20% discount to customers who are disguised as the protagonists of Avengers.
But also: offer discounts to regular customers, to those who remain consuming, during x number of hours, birthday celebrations in which the whole family is, etc.
It is about rewarding loyalty, groups and, above all, trust.
5. Discounts according to the calendar
Let’s say Wednesdays are your laziest days – a discount for just that day can help you re-energize that day’s movement.
But you have to take this discount further: if your restaurant broadcasts sporting events, offers discounts for the soccer derby, or if it is a family one, to celebrate New Year’s Eve or Three Kings.
Look for specific dates according to the theme and personality of your restaurant, and make those festivities a party in your restaurant.