It’s a busy Saturday night, and you’re watching people file into the bar next door. You have some business, but they seem to really draw the biggest crowds. What are they doing that you’re not? Well, they probably have a premium cocktail menu. Your customers have a plethora of bars to choose from, so you need a way to set yourself apart from the rest.
A well-crafted cocktail menu will result in repeat customers, and give you a chance for high profit margins. Every bar can sell the staple cocktails, like margaritas and cranberry vodkas. But what are you doing differently that will bring them in? If you have nothing new and exciting, you’re going to be a step behind the competition. People want to post their fun new cocktails to social media, and have a fun drink experience on their weekend nights.
Premium cocktails give your bar a name, and a unique personality that will speak for itself. Creating a fancy drink can draw plenty of attention, and if it’s crazy or fun enough, social media buzz. For example, many bars employ retail theater tactics to boost their drink menu. Setting a drink on fire, very brightly colored drinks, or even just a cocktail with a wacky and out of the ordinary ingredient can provide this. It turns heads as it’s made and brought to a customer, grabbing the attention of every person it passes by. Creativity is a sort of currency in the bar business, and the more you have of it, the more your customers will want to pay for it. Make your premium drinks as fun as possible!
“Give your bar a name, and a unique personality”
Premium ingredients in your cocktails will also boost your bar’s bottom line. It may make your drinks slightly more expensive, but quality ingredients ensure quality taste, and will keep people coming back. Not only just in the immediate, with them ordering more at their table, but in the future as well. If a patron has a great drink in your bar, they’re more than likely to come back with some friends because they recommended your drink. Great tasting drinks equals more drink tickets per customer, and your liquor revenue goes up.
The funny thing about premium cocktails is that they sell themselves. The word “premium” puts an idea in the customer’s head and gives the drinks a sort of prestige. The psychology of your customers leads them to believe they are having a better experience with the premium cocktails, and have some sort of higher value. Thus, you can charge a few bucks more for them, now that the customer thinks they are of a higher level than the rest of your menu. Often, these drinks really are made and served at a higher level than a standard cocktail, but you can squeeze a few bucks more per drink out of each customer for them, making them an easy way to boost your bottom line.
If you’re struggling to draw crowds, the best bet is to create a new premium cocktail menu. It gives your bar a signature selection, increases customer flow and loyalty, and boosts your bottom line in a big way. Use creativity as a currency, and give your customers a reason to come back again and again.