8 Ways Digital Menu Boards Can Increase Your Bottom Line
There’s a lot of talk about what the new normal will look like in a post-pandemic world, and the implications for restaurants and bars. Clearly, customers’ expectations have changed; health and hygiene must come first in this new world. Take, for example, digital menu boards— in less than two years, they’ve gone from a want to a need… or in other words, from a nice thing to have to a necessity.
“Customers already wanted convenience and digital connections with their dining experience—either on- or off-premises. Now, a new focus on safety has amplified these demands,” warns a recent Deloitte study.
Static menu boards still exist, of course, but they are on their way out. Why? Digital menu boards promote better hygiene, are better for the environment, more convenient, and bring the “wow factor” that millennials and even younger members of Generation Z expect.
The best part about digital menus is that they are a win-win for customers and operators. In fact, the main reason they’re becoming a mainstay in the restaurant and bar industry is because, simply put, they make good business sense.
Digital menus are helping establishments in this competitive sector to increase revenue, enhance operational efficiency, and reduce costs. The net effect? Higher profit margins!
Here’s 8 ways digital menu boards can increase the bottom line for your restaurant or bar.
- Upselling and Cross-selling
For orders that go through a POS system, digital menus can show complimentary items, making it easy and effortlessly cross-sell and upsell. Establishments that invest in digital menus often see their average order value increase!
- Test New Products and Promote Lesser Known Items
To optimize menu offerings, establishments use digital menus to test promotions and price items across multiple locations. In addition, they also use them to promote lesser known items. Digital menu software helps maximize revenue potential to ensure you are firing on all cylinders!
- Maximize Foot Traffic
If you’re located in a busy thoroughfare, displaying digital menus outside of your location will attract attention and draw foot-traffic. Make your space more dynamic and engage by adding specials and promotions, along with an eye-catching visual.
- Sell Advertising Space
For an additional revenue source, consider selling space on your digital menu – or, in some cases, donate it – to vendors, suppliers, partners, and non-competing businesses in the vicinity. Over a month, this can generate sizable amounts of revenue. Talk about low-hanging fruit! Best of all, your advertising can be updated and managed remotely. (This strategy can also be applied to multiple digital menus across different locations and regions.)
- Leverage Customization Capabilities
A one-size-fits-all approach is so yesterday! Increase sales by giving your customers what they want, when they want it. Customization opportunities enable bars and restaurants to show one menu during regular business hours and a separate menu during happy hour, or to automatically shift from the breakfast menu to the lunch menu. You can easily schedule your digital menu to change based on the time of day, week, month, season, or year. With the right menu software, everything from price points to design elements and messages can be customized, enabling you to maximize revenue opportunities. Not to mention, all of this can be automated.
Increase Efficiency & Reduce Costs
Another way to increase your bottom line is to enhance efficiency. Time is money, as they say. The problem though, is that static, manual menus are inherently inefficient. Digital menu boards offer an easier and effective alternative.
- Simplify Menu Updates
Thankfully, the days of having to constantly (and manually!) update and re-print your menus are over! Technology is saving the day. Now you can efficiently and seamlessly update your digital menus in real time, across multiple locations, saving your company significant time and money. You can create, publish, schedule, and update your menu content (like this) at your convenience – anytime, anyplace, and on any PC, laptop, or phone. Not bad, right?
- Shorten Lines
Long lines, over a period of time, will hurt your bottom line. A simple, yet descriptive, digital menu at the POS system makes it easier and faster for your customers to order and proceed through the queue. This is proven to streamline the customer flow while increasing the rate at which customers can be served.
- Reduce Spending
Why continue spending your budget on manual menu updates and expensive printing costs? That’s just throwing away money. Isn’t it time to switch from static menus to digital menus? Digital menus are so much more than a sign; they are a proven marketing tool ready to help your restaurant or bar maximize revenue.
In this post-pandemic world, a digital menu can help put your customers at ease while increasing your bottom line! Try a completely free demo today to learn how an electronic menu board can save you significant time while increasing your bottom line.