Happy Hour Strategies in restaurants and bars is one the most tried and tested tactic to attract customers and increase sales. Happy Hours are usually specific to bars and pubs, and are created to boost the current sales, and uplift the business during the slow hours. A well-developed Happy Hour program can make a significant difference to your restaurant revenues. But before you launch your Happy Hours at your bar, remember that offering staggering discounts does not do good to the business and offering discounts would only lead to inflated Beverage Costs. This article will tell you how to control your Liquor Costs. You must devise a smart Happy Hour strategy to generate profits.
Happy Hour Strategies that are Sure to Increase Your Bar Sales
Read on to find out the best Happy Hours Strategies for your restaurant and bar.
1. Price them Right
A Happy Hour Strategies and program is of course, all about pricing. However, you must take care to not arbitrarily slashing the prices. While you cut down the price or offer a drink for free, remember to increase the price of your best selling items to cover the cost. Read this detailed guide to Menu Pricing and calculating Food Costs.
2. Create a Special Menu
The menu is the most integral part of the Happy Hour program. This is where you get to cover up for the low priced drinks. Create combo offers of the best-selling, yet high-profit margin food dishes with the drinks. Usually, beers and cocktails along with finger-foods are the most popular option for Happy Hours Menu. Have something exclusive on the menu available only during the Happy Hours to attract customers. Also, there are a number of teetotalers you would not want to miss. Thus, remember to have something for the non-drinkers as well. Target these customers by creating a special combo of mocktails and food.
3. Target Your Audience
The most important thing to keep in mind while running any campaign is the Target Audience. You should know what kind of customers would frequent your Bar during the Happy Hour, and create the program according to the preferences. Is your target customer base the corporate workers that visit after Office Hours during weekdays, or the young people coming to your pub for partying?
The day and time of the Happy Hours need to be pre-decided. Usually, Thursdays are slow for business. You can also offer all-day Happy Hours and decide a flat rate for a particular drink. You can also come up with a late Happy Hour special to attract customers to beat the competition.
4. Train Servers to Upsell
It is a well-known fact that restaurant waiters and servers can make a stark difference in sales, and the no-brainer is upselling. Often customers seek the waiter’s advice while ordering. Upselling becomes more crucial during the Happy Hours as customers tend to choose a Combo Offer and place their order. Train your waiters to offer an upgrade on the Combos for an additional charge, or suggest high-profit items on the menu. Waiters upsell best when there is an incentive program; devise an incentive program to keep your staff motivated. Find out ho
5. Market it Well
Any campaign that you run needs to be marketed well. Apart from the regular display cards and signs, now you can run smart Marketing Campaigns with the help of your CRM. Segment your customer base on the basis of their ordering history and behavior. If a customer has been known to order drinks in the past, it is likely that they will appreciate discounted drinks. You can send promotional SMS and emails to such customers to ensure the maximum response rate and include these in your Happy Hour Strategies.
6. Measure the Results
The only way to measure the success of any campaign is to look at the numbers. The best way to measure this is to track the Profit Margin per item. Count the total number of each item sold during the Happy Hour, and multiply the number of orders by the Profit Margin per sale. Also, look at the total numbers sold. Could you have increased the sale by promoting the program more?
Happy Hour Strategies are a great way to experiment with new items, understand the customer behavior along with boosting the revenues. Try it out in your bar and let us know how it went for you!