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Rich's Plant Based Cooking Creme - banner - both - 02.18

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Knorr's Cook with More Possibilities - skyscraper - both - 09.24

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Skyscraper Ad - MM -  Beat - Operator

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Ambrosia Chocolate - banner - both - 03.23

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Limited-time offers are a powerful strategy for restaurant operators seeking innovative ways to attract customers and increase revenue. With the number of LTOs in the food service industry <a href="https://www.axios.com/2024/05/29/restaurants-limited-time-offers-increase-swicy-menu" target="_blank">skyrocketing by 53%</a> in the past four years, it's clear that these special promotions work wonders. To truly leverage their potential, LTOs need to be rolled out strategically, customized to your audience, and tracked for success.
Here are some tips to help your team implement LTOs that not only excite your guests but also drive real results for your bottom line:
1. Tailor limited-time offers to reflect your brand
For LTOs to stand out, they should feel like a natural part of your restaurant's brand. Whether your focus is on fresh, healthy meals or quick, flavorful dishes, your special offers need to reflect what your restaurant is known for. If your concept revolves around fresh ingredients, create an LTO featuring seasonal flavors. If convenience is key, consider offering grab-and-go items that cater to your guests' busy schedules. The goal is to introduce something new and exciting while staying true to your brand, ensuring it appeals to both regulars and new customers.
2. Tap into market trends and consumer preferences
Instead of offering arbitrary dishes, build your LTOs around what's currently trending with consumers. For example, if there's a growing demand for plant-based meals or sustainable proteins, introduce a limited-time dish that fits these trends. Tools like restaurant analytics and social media can help you pinpoint what's popular with your target audience, whether locally or nationwide. By offering trend-driven options, you show customers that you're in tune with their preferences&mdash;keeping your menu fresh and giving them a reason to visit during your promotion.
3. Test future menu items with limited-time offers
LTOs provide a low-risk opportunity to introduce new menu items and see how they perform. During the promotion, track sales and gather customer feedback to assess the item's popularity. Post-purchase surveys and social media monitoring can help you gauge reactions. If the dish consistently resonates with customers, it might be worth considering for your permanent menu. This lets you fine-tune your menu based on real customer responses, keeping things fresh and appealing.
4. Enhance the dining experience
Make your LTO more than just a new dish &mdash; create a whole dining experience around it. Consider redesigning the atmosphere to match the theme of your limited time offer. For example, if you're introducing a summer dish, you could brighten up the space with beach-inspired decor and play tropical music to set the mood. By engaging multiple senses, you not only elevate the dining experience but also make the LTO more memorable, encouraging guests to come back for more.
5. Reward early adopters and build loyalty
LTOs are a great way to show appreciation to your loyal customers. Think about giving early access to your most dedicated guests, those in your rewards program, and local influencers. By allowing them to be the first to try the new item, you create a sense of exclusivity and excitement that can lead to positive word-of-mouth. These loyal guests can turn into brand advocates, sharing their experiences on social media and attracting new customers. Plus, consider offering loyalty points or rewards for purchasing the LTO, encouraging repeat visits even after the promotion is over.
6. Leverage technology to optimize performance
To ensure the success of your LTOs, it's important to keep track of how they're performing and their cost. Use your restaurant management software to check real-time sales, gather customer feedback, and assess how efficiently things are running during the promotion. Advanced analytics can help you see which items are popular and why, giving you insights to shape future offers. On top of that, technology can improve communication between your kitchen and front-of-house staff, keeping everyone in the loop about daily specials, stock levels, and customer comments.
7. Build urgency with dynamic pricing
To create excitement and urgency around your limited time offers, think about using dynamic pricing. You might offer a special discount for the first 50 customers who order the item or gradually increase the price as the promotion comes to a close. This approach taps into the concept of scarcity, encouraging customers to act quickly to get the best deal. It works particularly well with online ordering systems or mobile apps, where customers can see real-time updates on the availability and pricing of your limited time item.
8. Introduce LTO-specific pairings or combos
Increase your average ticket size by offering your limited time offer as part of a meal bundle or combo. For instance, if you're launching a new burger, consider creating a combo that includes a special drink, side, or dessert that pairs perfectly with it. By packaging your LTO with other popular items, you enhance the perceived value of the offer and encourage customers to treat themselves.
Leveraging LTOs for long-term success
Limited-time offers can do more than just generate quick revenue &mdash; they can also enhance your brand, attract new customers, and build loyalty among your regulars. By aligning your offers with market trends, testing new ideas, and rewarding customer engagement, you can ensure that each LTO drives immediate sales while contributing to your restaurant's long-term success. With the right tools and strategies, these offers can become a vital part of your growth plan, ultimately increasing both customer satisfaction and your bottom line.
Source: Katie Fairchild, <a href="https://www.fastcasual.com/blogs/8-ways-for-restaurants-to-maximize-limited-time-offers/" target="_blank">Fast Casual</a>

Katie Fairchild, CMO of Restaurant365, reveals eight marketing tips for LTO launches.

8 Ways for Restaurants to Maximize Limited-Time Offers

A proper limited-time offer strategy can mean great gains for a restaurant organization, but only when implemented correctly.&nbsp;Before we get started, let&rsquo;s talk about the meaning of restaurant limited-time offers.
Limited Time Offer Definition for Restaurants
A limited-time offer, often referred to as an LTO, is a special menu item or set of menu items available for a clearly defined short period of time.
Why Do Limited Time Offers At All?
LTOs offer a few different benefits for a restaurant. These are the most notable benefits as we see them.
<ul>
<li>Product testing. Before making long-term investments into an unusual dish or drink, give it a whirl and see what your customers say during an LTO. In addition to consumer research done before you launch an LTO, your sales numbers will tell you if the special menu items are worth a long-term <a href="https://www.foodanddrinkresources.com/increase-restaurant-profits-menu-engineering/" target="_blank">addition to the menu</a>&nbsp;or to roll out again for a future LTO.</li>
<li>New food and flavor news. An LTO gives you something out of the ordinary to talk about. That hype is a chance to get new-to-you customers in the door. We see this often, especially with Millennials, because today&rsquo;s consumers want to know the story behind their food. Did the food come from a local ranch? Were the sheep that produced the cheese massaged to sleep and given red wine from Napa that was produced from grapes that were hand-selected by the Pope?</li>
<li>Make it part of the marketing mix.You are no doubt juggling a few marketing strategies to attract customers, like two-for-one coupons and social media campaigns. An LTO fits into many other marketing strategies nicely. More bang for your buck, right?</li>
<li>Please your tribe. We all love a good deal and something special. If you can create something special AND offer a good price, your avid fans will take notice&hellip;and hopefully, tell their friends.</li>
</ul>
The Elements Of A Successful LTO Strategy
Most successful LTOs include some of the same elements, which we outline here.
LTOs Reflect What&rsquo;s Happening In Real Life
LTOs typically last for two to three months or for a particular event. The dish could be a seafood dish during Lent, a decadent, shareable dessert around Valentine&rsquo;s Day, or a ridiculous cheeseburger with a hot dog, potato chips, and a freshly baked bun during the summer. (By the way, <a href="https://www.foodanddrinkresources.com/produce-chef-hacks/" target="_blank">we have a soft spot for Valentine&rsquo;s Day</a>.)
An LTO could be a smaller menu versus just a single dish. Whatever it is, the LTO falls in line with the customer&rsquo;s real-time reality outside of your restaurant.
Gotta Go Now!
Consider the treats offered by many food or beverage establishments &mdash; Shamrock shake or Pumpkin Spice Latte anyone? This type of LTO appeals to people because they know the goods will only be available for a short period every year and they can&rsquo;t miss out!
The fear of missing out (FOMO) trigger is one of the top reasons limited time offers work. By stressing the fact that the offer is for a limited time, you make your customers feel special while imparting the message that they must act quickly to enjoy the savings you&rsquo;re offering.
You Won&rsquo;t Find Another Like It
In the case of both the Shamrock Shake and Pumpkin Spice Latte, it&rsquo;s not only about the time frame. The two companies behind these beverages have done an excellent job of making the drinks synonymous with their brand. And that, friends, is the goal for any restaurant. How can your limited-time offer (or any menu item for that matter) become exclusively yours? Others may imitate but never conquer.
We&rsquo;ll talk more about how your brand and LTO work together in a bit.
What? You&rsquo;re Out?
&ldquo;While supplies last.&rdquo; &ldquo;First come, first serve.&rdquo;
It&rsquo;s called scarcity. When you create it, consumers fuel urgency.
The Price Is Right
Customers will feel compelled to make a quick buying decision based on the opportunity to purchase a product or service at a special price, but prospective and returning customers will also feel compelled to take advantage of a great offer.
Now, This Is a First
Play with something new and exciting that might be edgier, more global, or uniquely seasonal. This is where a brand can experiment with food/drink trends without huge financial or customer loss risk. This is the time to have your chefs be creative or bring in creative experts to expand your everyday brand thinking.
LTOs are a wonderful opportunity to wow your customers.
Tried And Tested
Up above, we did say that LTOs are an opportunity to test a menu item with your customers without the risk of changing your full menu. However, that doesn&rsquo;t mean you shouldn&rsquo;t do <a href="https://www.foodanddrinkresources.com/why-fdr-for-consumer-research/" target="_blank">consumer research</a> before launching an LTO. Market research isn&rsquo;t always a &ldquo;yes or no&rdquo; question. Outside input can get the juices flowing in a new and relevant way that your daily exposure at the restaurant may be missing. A taste test, focus group, or survey will give you insight into subtle recipe, menu, or marketing changes you could make for huge rewards.
Will Your Customers Care? Does It Reflect Your Brand?
Having said that we want you to take risks, we also want you to keep your target demographic and true north in mind when developing an LTO. If your restaurant chain caters mostly to families, then a shareable appetizer is a better LTO strategy than summer cocktails. Don&rsquo;t go too far off the mark. If you are an expert in pizza and salads, now is not the time to explore Asian noodle bowls.
Your customers have a set of expectations based on your brand promises. An LTO is not an opportunity to deviate from that.
To recap, here are the 8 pieces most successful LTOs include.
1. Seasonal&ndash; The LTO fits into what is happening in the world at large. 2. Urgent&ndash; Limited-time offers don&rsquo;t last forever. Act now! 3. Exclusive&ndash; You can only get it here, folks. 4. Scarce&ndash; If you limit the amount available, you&rsquo;ll amplify urgency. 5. Priced right&ndash; Customers love a good deal. 6. Unusual&ndash; Get crazy! (But not too crazy &mdash; see #7 below.) Try something a bit off the mark to really wow your guests. 7. Tested&ndash; Use consumer research to launch a promising LTO. Then, pay attention to sales and customer feedback to decide on repeat offers or, possibly, menu changes. 8. On-target&ndash; Stay true to your brand. Your customers expect a certain type of food from you. Give it to them in your LTO, too.
Source: <a href="https://www.foodanddrinkresources.com/limited-time-offer-strategy-restaurants/" target="_blank">Food &amp; Drink Resources</a>

A proper limited-time offer strategy can mean great gains for a restaurant organization, but only when implemented correctly.

A Limited Time Offer Strategy for Restaurants

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8 Ways for Restaurants to Maximize Limited-Time Offers

A Limited Time Offer Strategy for Restaurants