My father once told me there is an art to crafting the perfect coupon offer. He started out working as a dishwasher at a restaurant, and went on to own three franchises.
When he gives me advice, I listen.
He was always telling me the point of a coupon offer is to first and foremost increase the bottom line. He said that my first priority should be to come up with an offer that sounds too good to pass up while still keeping my margins. Here are the top ways I have found to do that:
- 1. Promote a Product That is Cheap.
This may sound like a no-brainer, but you would be surprised at how many people don’t use their inexpensive products to sell their highly profitable menu items. My favorite way of achieving this is by offering free breadsticks wish any gourmet pizza purchase. Done. Perceived value up, cost to me, minimal.
2. Family Deals – Increase bottom line by increasing quantity
These gems are popular for a reason. Bundling the most desirable items with their more profitable counterparts can help you create value while still contributing to the bottom line. Products like wings, pizza, and soda go well together and increase the total ticket cost.
3. Promote Your Off Days
There is a reason for phrases like ‘Two for Tuesday’ and ‘Monday Madness.’ Your off days can literally drive you crazy balancing unreliable demand with employee costs. Give yourself a break, and pull in your regulars on your slow nights, with unbeatable deals. Remember, it’s all about profit. If your deal is not bringing a profit, consider encouraging employees to up sell once you get the people in the door. For instance, only $2 more for a flavored crust, or to add a fountain drink to your order.
Share with us the creative ways you keep profits up while crafting sticky note coupons?
-The Pizza Note Guy