So I clicked on it and brought me to Spreets site with that day's special deal of $25 voucher to spend on Mandala restaurant. Basically, if you purchase the $25 voucher you could safe $40 if you spend minimum of $65 in that restaurant. The voucher will be valid for 3 months after purchase and after certain amount of people buy the voucher. In this case, the voucher was already active since 523 vouchers are bought up to that day.
The voucher was sent to my e-mail straight after the purchase. Now I can enjoy $65 worth of meal in Mandala restaurant for only $25!
I think this is a great idea for restaurants and any other retailers to draw traffic to their businesses by partnering with Spreets. Some people with the voucher might spend more than $65 at the restaurant, so that's a good thing!
And since the voucher purchasers are allowed (and encourgaed) to share this with friends on Facebook, Twitter, and e-mail, businesses can create word of mouth buzz through Spreets.
I think this is a great idea for restaurants and any other retailers to draw traffic to their businesses by partnering with Spreets. Some people with the voucher might spend more than $65 at the restaurant, so that's a good thing!
And since the voucher purchasers are allowed (and encourgaed) to share this with friends on Facebook, Twitter, and e-mail, businesses can create word of mouth buzz through Spreets.
Any comments about this topic?
A great way to get people talking. But how does the restaurant/bar make any money with such huge discounts? Do they rely on people buying but not using the vouchers? I wonder what the conversion rate is?
ReplyDeleteAs you said, many visitors will spend more than the $65, but many will be very careful not to overspend, particularly with this sort of promotion appealing to the price-sensitive consumer.
Would you run this sort of campaign if it was your restaurant?
I believe that this is a short-term promotion only so in the future people who purchased these vouchers and love the restaurant will go back. At least people will come and try their food and service.
ReplyDeleteAnd yes, they must have any other supporting promotions than this that can draw customers without discounting their price.
I would have to argue that discounting does not mean that they are targeting on price-sensitive customers who will only spend $65. Personally, I will ask my friends/family to come along with me and use the voucher - it's okay if we end up spending more than $65, we still get that $40 discount anyway.
If it was my restaurant, I would consider this kind of promotion while still considering the brand image, frequency of promotion, and the time of promotion.