When looking at how to plan an effective promotion or limited time offer (LTO) to drive revenue, traffic and insure success, you should concentrate on what works and how to steer clear of what does not work. From experience, here are 5 oversights that can derail your promotion.
Focus: If the promotion fits what you are attempting to accomplish prioritize tasks so strong “top-of-mind” share, execution and follow up will be communal among everyone involved. Don’t focus on a happy hour promotion if your largest deficit is late night sales and weak traffic counts.
Operations: Consistent feedback from the field on any promotion or menu implementation is critical for success. Allowing operators the opportunity to provide feedback prior to the promotion going live and share what may work better is crucial. It goes without saying that operations should have a well laid out training plan for their teams.
Testing (model, test, roll): Those who have a great model to follow and test that model in their bar or nightclub will not only learn what works best but will generally have a much smother roll out. Taking the necessary steps through testing new products or themes will pay huge dividends in the end. Brands with a strong and comprehensive testing calendar with milestones will benefit on their investment.
Distribution: Place great accountability and urgency on insuring all products, especially new alcohol SKU’s (stock keeping unit) will be available and delivered on time. Also, those who take additional time to insure control states have the correct products (spirits) will see far fewer issues and mistakes on day one of your new promotion. There’s nothing more disastrous than not having the product being promoted due to a distribution snafu. This can be crippling.
Communication: Cascade your promotion so that all team members from the top down will understand and support a smooth and successful roll out. When everyone clearly understands the “why” and the “how” with your promotion, execution becomes dramatically smoother. Your staff will enthusiastically execute and your customer will visibly see that impact.