Limited-time offers or LTOs have been around forever, holding the title as one of the most effective revenue-generating tools ever — and for good reason. Not only do they help businesses generate buzz around special prices or new menu items (91% of people are more inclined to try a place with a new dish on the menu), they add a “try it before it’s gone” urgency. And from what we know about today’s fear-of-missing-out culture, no one wants to miss a thing.
(SOURCE: Article, 2024)
Why serve up an LTO?
- Customers crave it.
With the cost of life on the rise, customers are constantly seeking out ways to save. They’re quite literally looking for price-driven LTOs now more than ever and will choose businesses accordingly. And for those who are always on the lookout for a new dish or trendy product to tempt their taste buds, it can be just the thing to win them over.
- Keeps you current.
Staying relevant is crucial. Offering up an LTO that is seasonally appropriate or in line with current trends (like these Tik Tok faves) is how to prove you’re in the game and on-point.
- Gives you the intel you need.
Trying out an LTO lets you test new products or promos with minimal risk. You can quickly check if something is catching on and, if it isn’t, then use that info to refine it or scrap it and try something new altogether. If it does work and people like it, you’ve got yourself a recipe for repeat business (85% of consumers saying they’ll return if they like the LTO). And if it’s that good, maybe it deserves a spot on your regular menu?
SOURCE: Article, 2022
Drumroll, please! Here are the top LTOs, according to Skip:
Nostalgic LTOs
Who doesn’t love to be reminded of their childhood faves? When it comes to LTOs, nostalgic ones are right up there on the list of things customers are looking for. In fact, 71% of them are looking to enjoy dishes from their youth, so it wouldn’t hurt to throw one in as an LTO. Do your own spin on mac ’n cheese, offer up a delivery bundle that comes with a slushie, or create a S’mores combo LTO that customers can get for free with a minimum purchase (a little something we like to call the Free Item promo).
(SOURCE: Article, 2023)
Trend-driven LTOs
Besides the aforementioned TikTok trends, backing trendy ingredients and turning them into LTO menu items are a popular way to get in the game. For example, if you’re a pizza restaurant, try offering a Mexican-inspired special with slow-cooked Birria and pickled onions, topped with chimichurri sauce. Looking to drive orders on the delivery side? Make that pie a delivery or takeout-only special. If you’re on the grocery or convenience side, try out a trendy product extension, like plant-based Reese’s peanut butter cups.
Promo LTOs
Never underestimate the power of a good promo. As we mentioned earlier, there are a lot of customers out there who pick their place based on the bargain. The best part is, promo LTOs are the easiest to implement and track — and with Skip, you’ve got options. From Free Delivery to $ Off deals, there’s all kinds of promos waiting to move you to the top of the list (Top Placement can also help in that department). Want to really get people talking? Combine a Skip LTO with a new product LTO and prepare for all eyes on you.
Seasonal LTOs
Four words: corn on the cob. Need we say more? Those words immediately transport you to a backyard barbecue with all the summer feels. And customers eat that stuff up. Seasonal LTOs are an amazing way to bring more attention to your business, plus they give you the opportunity to offer more local foods from local farmers (a major plus in the eyes of your patrons).
Health-conscious LTOs
With more and more people focusing on health and wellness, we’re noticing a lot of businesses jumping on the nutritious and delicious bandwagon, making lighter versions of their classics. Trying out a new line of grab ’n go protein bars. Creating planet-friendly plates with a lower carbon footprint. These are the types of LTOs that bring attention to your business for all the right reasons.
Whether you’re looking to try out a new product or trend, or just offer a great deal to steal some of the spotlight, LTOs are a great way to go. Just do what works best for your business and you really can’t go wrong.
