Psychological optimization for profitable menus
tricks from restaurant veterans.We have talked to numerous chefs and restaurant owners
during the last couple of months, assembling a list of the most useful hacks
for creating the most profitable menu for your restaurant."A menu is just a piece of paper that says how
much a dish costs!" Whoever thinks that, makes a big - and usually
expensive - mistake. Your menu (and of course your drinks menu or wine list) isns
your virtual waiter, your printed salesman, who not only tells your guest the
price of a meal, but can also do much more - if you know how.
No matter where in the gastronomy, whether in the Michelin-starred restaurant or in the
canteen - your menu can convey a feeling of high quality to your customer. Or
not at all. Whether the price of a meal is high or low depends
above all on whether your menu has been designed effectively from the point of
view of sales psychology.How to use price psychology to design your menu
effectively and earn significantly more.Especially when redesigning a menu, you can make a lot
of mistakes from a price psychological point of view - or you can make a lot of
mistakes, depending on the situation. Read below what and how.
How to create a profitable menu in 10 steps?
1. Menus: How to use psychological price limits
Whether you charge 4.80 or 4.90 for a drink in the
catering trade makes no difference to your guest. The price is less than 5
Dollar. For you, on the other hand, your contribution margin may increase quite
a bit - especially if you don't sell one of these drinks in the course of a
day, but maybe fifty. Or a hundred. Hundreds of 10 cents make a difference -
and that's just one drink! However, you can apply this system to the entire
menu or wine list - whether drinks or food.
2. Let the price on the menu appear lower, even though it remains the same
How does that work, you ask? Comparing prices. The feeling
for the value of a price results from a comparison. Namely, in your case in gastronomy,
from the comparison with your other dishes and drinks, the prices of other
restaurateurs or with the size of your guest's wallet.The price
perception goes back to the patterns and beliefs of your guests, which have
been imprinted for years and are mostly completely unconscious. They are
responsible for the perception "cheap", "expensive" or even
"too expensive".Priming, a form of unconsciously influencing
perception and decision-making processes, also contributes to the effectiveness
of these phenomenal price psychological effects.So much for theory. But what does the implementation
of price psychology look like in practice?
3. Why should I omit the currency symbols next to your prices
Price psychology studies show that prices are
perceived to be lower when displayed without a currency symbol on your menus or
beverage menus. This makes the guests more willing to spend money. Even a
written out "DOLLAR" is better than the sign, but still lags behind
the effect of a naked number.