Consider this ticket offer for a second.
The Bobcats are offering $36-$52 lower level tickets for home games combined with a $25 gift card for wings at Hooters. Now consider this for a second they’re offering value of more then 50% of the value of what you’re buying: seems stupid at face value. Seems like consumers are getting a steal. And that’s why this is a GREAT promotion.
For the Bobcats its easy to see why its a good promotion they’re not actually giving up any value and if they get any incremental ticket sales they come out on top.
For Hooters its a little more complicated. However consider the actual cost to Hooters of $25 worth of wings. $25 worth of wings will get you somewhere around 35 wings at Hooters. If we’re being honest the cost of the wings is probably less then 50 cents a piece. So the cost of the deal is closer to $17 or more likely closer to $10. Sure that $10 cost can add up, but don’t forget hooters makes a good deal of their money off beer and other alcohol. Bring a friend to help you with the wings buy two pitchers of Blue Moon and Hooters has probably already made back the cost of their promotion.
This is forgetting all the other marketing benefits of the promotion.
The lesson learned? Find ways to make consumers feel they’re getting a steal without actually giving them one and you win.