2 Things You Can Learn From Burger King’s Success (Seriously)
The fast food industry isn’t doing too hot — McDonald’s and others are seeing sales drop, but competitor Burger King is thriving, according to Ashley Lutz’s article on Business Insider.
What do burgers and fries have to do with live entertainment? A lot, actually. Here’s a breakdown of how Burger King is making it work and how you can do the same:
1. They think like a start-up. Burger King’s CEO is keeping things lean and not overspending. Jim has also pointed out in this blog ways live entertainment groups can re-work their budgets to keep costs (and ticket prices) down. One tip from Jim: “What produces value and what costs money? If a business model is broken, something real is going to have to change, but it might not be what you think.”
2. They think outside the box with their promotions. Burger King isn’t constantly releasing new, wacky menu items. Instead, it finds fun ways to get people excited about what’s already on offer. We’ve pointed out a lot of creative ways live entertainment groups are promoting themselves (you can see examples here) and the success of these campaigns is almost always positive. Are you thinking outside the box when it comes to your promotions, too?