That will work, just make sure the wind isn't blowing your scent to the bait pile. If they have found the pile and don't get it all ate up before you set up on it, or if you keep adding to it, they will keep coming back for more. It's only a matter of how long it will take them to discover it. Sometimes if you shoot one coyote, others won't run too far before stopping to look back, and if you wound one and it starts yipping and carrying on, they may actually come back to it.
Good Luck!!