Every consumer appreciates a good bargain. Some even rely on them to justify dining out in today’s economy. Limited time offers are a great way to draw in customers at any given time of year, by compelling them to frequent the venue for fear of missing out on a good bargain or a guilt-free chance to try a new restaurant. Despite the obvious benefits that offering limited time deals can bring, businesses must be careful not to abuse this restaurant marketing strategy.
Unlimited Time and Fake Offers
Consumers, as a whole, are smart. Chances are that if they are being cheated continuously, they will quickly catch on. In the restaurant market, if consumers feel cheated by a venue, they can usually turn to another similarly priced, nearby venue that offers comparable quality food. In order to avoid dissuading customer loyalty, businesses should have honest restaurant marketing and restaurant deals. In terms of offering limited time restaurant deals, this means using those restaurant deals to increase restaurant business during slow periods, but not keeping them over extended periods. Limited time offers that are offered all the time will be less exciting to customers and therefore less effective for increasing restaurant traffic at a venue. Limited time offers can also fail to increase restaurant business when they are not an offer at all. Though initially customers may be drawn in by the visual restaurant marketing of a limited time offer, if a customer realizes that an offer is actually just an everyday price disguised as restaurant deals, the venue can expect negative feedback on social media pages, bad publicity through word of mouth, and a decrease in customer loyalty if customers do not feel like the restaurant deals offered are worth the price.
Using Limited Time Offers
Businesses can make the most of limited time offers by using them to boost restaurant traffic at any point. Offering items with high profit revenue, for a slightly lower price, will allow a simultaneous increase in restaurant business and restaurant profit. For the best chances of generating restaurant traffic and restaurant profit, businesses should develop restaurant marketing strategies beyond the useful sidewalk sign and menu cards. By creating a restaurant marketing plan that focuses on bringing in new customers, businesses can increase restaurant profit year-round by building customer loyalty with a larger client base.
As long as a business avoids the pitfalls of limited time offers, promoting such restaurant deals can be a great way to increase restaurant business at any time of the year. With proper restaurant marketing and planning of the offer, restaurant profit and customer loyalty and satisfaction can be maximized.