November 15th, 2010 • Posted by Kathleen Gardenswartz • Permalink
There is an uplifting sense of optimism leading into the holidays this year, so get creative and entice patrons with some new promotional trends that can add an extra lift to your revenue.
- Use uneven percentage discounts and prices: 23% off or $67.00 for a specific dining experience are uncharacteristic numbers that capture people's attention. In their mind it is not a typical discount so it is interpreted as value driving that specific number.
- Offer a larger discount only on a series of visits, say a package of three wine tastings. The habit-forming nature of coming in multiple times for a dining experience trains the recipient to become a regular client.
- Limited time deals: run your best offer for only one or two days. The sense of urgency drives additional sales.
- Offer a great buy-one-get-one, but target the BOGO at your slow time. For example, a $40 BOGO for the purchaser for each $100 GC that they give; but the BOGO is only valid during January. It sounds like a 40% discount, but it's actually 29%, and it generates two visits to your restaurant, and two loyalty building opportunities. Plus, a BOGO at the right price is a built-in up sell.
- Target online-only promotions for the two biggest online sales days: Cyber Monday (November 29th) to capture sales away from online retailers and December 24th for last-minute buyers.
- Consider using a Referral Code for a client appreciation sale. Promote it only via email or only to your Facebook fans.
Create scarcity by limiting the number of discounts available by putting a cap on your Referral Code.
There's a little more
consumer optimism for the holidays this year, but competition for gift dollars is still intense. Be creative and get your share!
