It’s been a challenging start to the decade for those working in the hospitality industry.
Sales were initially hampered during the pandemic and suffered again shortly afterwards as the cost-of-living crisis left customers with little to spend on non-essentials. At the same time, the 19% increase in food and drink prices and soaring gas bills have made it more expensive to run an eatery, forcing many establishments to close their doors during 2023.
Even though competition has dwindled for the businesses that have managed to survive the financial challenges of the last few years, prices remain high and spending is still down, so every customer counts. Try these methods to attract new business and thrive in the declining pub market.
Introduce theme nights
Putting on theme nights is a great way to encourage customers out and maximise spending during their stay. The aim is to bring together your community and keep people in the pub for a decent amount of time.
For your protection and peace of mind, you could look into updating your pub insurance to safeguard your business against risks associated with hosting events on your premises.
When you’re comfortable doing so, why not celebrate something seasonal or mark a national occasion or special sporting event? This might include a one-off menu and fancy dress. Alternatively, create some fun, friendly competition with group challenges such as a hosted quiz, board-games extravaganza or karaoke sing-off.
Live music is always a win-win situation, too. The artists enjoy exposure while you benefit from the custom of their friends, family and fans.
Improve your advertising
There’s no point putting on special events if no one knows about them. Improve your advertising to make sure that you’re promoting your business far and wide, via every available channel.
Word-of-mouth recommendations are useful for local businesses, so ask your loyal customers to highlight your pub to their connections. You could also join with nearby establishments to cross-promote your businesses. For example, why not serve an independent ale from the area or host a local food van outside?
With increasing numbers of people operating online, a digital marketing presence is important for businesses of all shapes and sizes. Having an up-to-date website and active social media accounts verifies you as a viable option, while positive online reviews will help to convince new customers.
It’s often said that people buy from people, so make your marketing as people-orientated as possible. Alongside real recent reviews, this could include photos of happy customers in situ and video content created by and featuring your staff.
Whatever you do, champion your USP (unique selling point) at every turn. Find your niche in the market and hammer that home. This is a foolproof way to find people who will love what you do and stay loyal in financially challenging times.
