Running a business can be fulfilling. It involves a lot of efforts, sacrifice and hardworking and sometimes one wants to give up. Feels like it is a dream come true if you have been working hard to make sure you see it done and succeeded, right?
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Which industry have you ventured in? Each sector has its own benefits and challenges. It is up to you as an entrepreneur to know how best you are going to overcome them. One of the industries that have been fulfilling yet giving trouble is the hotel industry.
Setting up a place where people can walk in and eat can be a challenge. That is because you need to know what people want you to supply then you need to think of how you will implement your idea into action. For that you need funds.
Finding funds is not an easy thing too. You need to look for a way your business will run with all that is needed and that requires money. You may use your savings, a loan from the bank or get funding from family and friends.
To keep it running
It is one thing to set up the business and it is another to keep it running. Venturing into something new and sustain it can be hard. You need to learn and practice what you learn from the gurus in the industry. That is why you need to read along and know what to learn from panda express.
For you to keep the venture up, you need to understand hat your customer wants and supply it diligently. You need to also make the customer aware of what you are selling. That is by advertising yourself and making the customer aware of your presence.
Customer likes to be lured into getting something. That is because we live in tough times where people are cautious of how much they are spending on something. You need to make them remove the $ from their pockets. You want to know how? Well let’s see how panda express does it
Panda express strategies
Panda Express is an excellent example of a business that was started and kept running. For over 25 years, it is evident that the owner, Mr. and Mrs. cheing have been striving had to make people keep on coming for what they have.
It all started in 1983 at Posidonia. Two brilliant minds came together and with some saving, they noticed the demand for Chinese food and decided to supply. With that, people came to know them and hat they have to offer and that has led to the opening of over 2000 branches worldwide.
They have been successful in the industry. Being ranked among the top in the food industry means they know how well to remain in the industry, right? Many upcoming entrepreneurs in the industry like you should learn a thing or two about how they do things.
Yes, they make the food delicious, their premises are attractive and their workers friendly but what do they do that keeps people coming in for more? Yes, the secret has been known, they keep people coming for more through the deals that they give to the public.
Panda Express deals
As an entrepreneur, I know you are wondering what this is, right? Well, a deal is an agreement between a buyer and a seller. The seller gives the buyer a specific discount in exchange for what he or she will get from the company. It is like a marketing strategy.
When a business offer deals with buyers, it will keep them coming for their products or services. Customers love where they get deals because they get to save their hard-earned money. That is why you got to keep the deals coming to make them spend the money.
For panda express to stay in the market, it must look for a way I which it will keep the customer coming for more. Deals are meant to do that. Through the deals, panda express has managed to;
- Get new customers
When you have something new, you need people to know about it and come for it. That is what panda express have managed to do. It happens mostly when they have a new branch. They have deals for customers so that they can visit the new branch to see what they have available.
By doing that, they bring a new person to the store. Depending on whether the client will be happy with them, the customer is likely to come back for more. That is a sure way of making a new loyal customer.
- Maintain loyal one
There are some like me and my family who keep on going for their food. We always check out whether there are new deals available that we can go for them. Giving deals to already customers makes them become loyal to your brand hence keep them coming for more from you.
Panda express has coupons and gift cards for loyal customers. They have occasional deals for such customers to come and enjoy a meal for a discounted price. That way, they remain royal and market their products to others.
- Increase sales
Yes, it is the intention of every deal, to reach the targeted goal. That is by increasing traffic to your premises. The more the people come for your product or service, the more it will be easier for you to achieve your sales goals.
Panda express too has expectations. They need their expectation realized and the only way they can do that is by offering deals to customers. When traffic flows into a branch, it is a sure way of increasing the sales of the day.
What you need to look at before you give out a deal
After knowing why you are giving out the deal, you need to organize yourself. Deals are meant to be a one-time thing. Having deals continuously will raise an alarm to consumers, especially in the food industry. You need to come up with a working strategy by first looking at the following;
- You need to do the deal at the right time
Deals should be strategically given at a time when it is necessary. That can be during holidays, hours that you need to drive traffic or when you want to the sales to shoot. Panda express has deals for specific outlets and occasions to make sure they reach the required target.
- Know your target audience
By knowing your audience, you will know what they want and how you are going to please them with the deal. If you are targeting students, their deal with be different from deal targeting the adults
Panda express to has different offered for a different audience. When they are targeting online shoppers, they ask them to sign with their email to get coupons and when targeting families, they give family feast offers. They go a long way in making the deal a success.
- Look at the result
What do you want to achieve with the deals? It is a critical question you need to ask yourself. Visualizing your result will help you plan for the deal. If you are planning to increase sales, make the prices in a way that you will still make a profit.
If you want people to try out a new product, make sure the new dish is in cooperated in the deal. If you want to maintain royal customers target them in a way that they will end up marketing you. panda express has managers who plan and execute their marketing strategy.
Types of panda express deals
For panda express to be successful the way they have been, it is through their marketing strategies. The founders have a competent team that knows how competitive the industry is and how they will cope with the competition.
They must keep the customers coming to have a taste of what they cook. That is why their offers are based on the food that they make. People from all walk of life have come in their premises thanks to their deals that they offer.
They understand that they are not in the industry, they have competitors who are best like they are. So, they must come up with deals that will outshine the other competitors and make the clients overlook others and come to them.
How they do it is what you should learn. It will go a long way in making sure the clients you get at your premises keep on coming for more. The following are some of the way’s panda express offer deals to their clients;
- Social media coupons
A coupon is a voucher offering a discount on a product or service. Various business uses it as a way of keeping customers and luring new one to buy from them. When it comes to social media, it has a lot to do with the marketing of your product.
Panda express does that every time. They give coupons to customers how to take specific actions that they ask. It could be through ordering food through their online platform or by signing in with your email into their site. That has encouraged people to take the action to require to get the discount.
- Limited time offers
They are offers that are meant to last for a specific time. They can be for a week or for a certain season. They are meant to drive sales or meet a specific target within a short time. A good example is the family feast offer of getting $10 off 1 and $25 off 2 at panda express.
There is another summer special deal and holiday promotion reminder for their free 2 entrée for each plate with a $25 gift card purchase. Customers always are on the lookout for such deals and when they present themselves, they always go for them with a rush.
They are meant to encourage online ordering and increase sales of the family feast. Another deal is the free small orange chicken entrée with any online purchase. They are a sure way of encouraging online ordering and reduce people queuing during the rush hours.
- Loyalty rewards
That is for rewarding loyal customers who have been visiting their premises and eating their food.by offering rewards to frequent customers, you keep them coming for more every time. Royal customers of panda express have many goodies for them for being royal.
On the back of the receipt, customers find the option of earning an extra entrée on your next visit through completing an online survey. That will earn you free food during the next visit. It will keep the customer coming for the receipt to check out the reward it has.
- Buy in bulk and up sales
Yes, you can give customers a chance to buy things in bulk and get a certain food for free. That will encourage the customer to go for more instead of one that they intended to buy. An example is the panda express family feat which you are offered a certain amount back with a big purchase.
- Offer free samples
Yes, at panda express you will always have a sample of what you want to have. If you are new at the place, you will be given a chance to have a taste of all entrée before you choose. By panda giving a customer the chance of tasting the food, they get the idea of what to have the next time they visit.
It is a marketing strategy that has been adopted by many and you can try out too. Most especially if you have a new entrée on the menu. By doing so, you will be giving the customer an idea of what to have during the next visit.
For you to remain in business, you must look for a way to remain in business. That is by luring your customers into purchasing your food. Panda express deals will give you an idea of what you are supposed to do to be successful like they are.