Coupon marketing is one of the most effective marketing strategies that you can use to promote your business. Actually, there are many data, and statistics collected all over the web that would support this idea.
If you are considering whether to use coupon marketing or not because you are not sure about the value you can get from it, then this article is for you. I will share with you some undeniable advantages of using this technique of marketing.
Get your competitors’ customers
If you like to use coupons for marketing, then you shouldn’t view your competitors as someone whom you need to contend with, you can think of them as a site where you can get more customers. You can take full advantage of coupons by running a Facebook paid ad campaign where you target the Facebook users that “Liked” or interacted with your competitor’s fan page, then you can moderately determine that you’re marketing to the right set of people.
When you put your discount coupons on your Facebook ad’s creative design, then you are marketing to the right audience and using the power of using discount coupons too. This will definitely help boost your business exposure.
Encourage customers to shop
It’s important to convince your customers that your product is worth spending money on but you also have to focus on making your customers take action on your offer. Coupons are the way to do it. If you want your business to operate well, it’s vital that you realize that customers will likely forget about your business if they do not take action immediately on your offer. The longer your customers hesitate whether to buy your products or not, the higher the risks of you missing the sale.
Obviously, the word “immediate” is different among different industries. For example, immediate in the real estate industry is different from selling shoes. For the people worked in real estate, a few months can still be considered “immediate” considering how massive the dollar amount is involved in the transaction. However, when you’re selling shoes, anything past 1 – 2 months (maybe even weeks) can no longer be considered “immediate.” That’s why you need coupons to make customers take action quickly. You should study in-depth into coupons here to know how to use them effectively.
Boost your sales dramatically
Studies show that 315 billion coupons were issued in the U.S. in 2013, 2.8 billion were redeemed. The number proves how powerful a tool discount coupons can be when it comes to boosting your sales. Even if you only get a part of the entire 2.8 billion, that’s still a huge leap in your sales that you’ve never experienced before.
A method that many business owners are using to boost sales right now is to add their coupons and special deals on reputable high-traffic discount websites like Couponxoo, Couponupto. Take a look at these websites and you will know why these sites are such goldmine. Besides the hottest deals, promos, vouchers, they also provide Tips for Using Coupon Effectively on Growing Business. These websites will help you increase the chances of discount offers going viral. This is why many businesses (no matter what size) choose coupon sites to promote their offers.
Increase brand loyalty
There are many reasons why you should focus on brand loyalty. It will not only bring you benefits in the long run but it also helps to make impact on your audience to promote your business through word-of-mouth marketing among other things.
For example, just think about big companies like Apple Inc. and how their customers react when they are going to launch a new phone. That’s definitely the strength of brand loyalty. Their customers always get up in line waiting for the stores to open so they will be one of the first people to get the new phone released. This kind of enthusiasm just doesn’t happen to many stores.
If you have a passionate and loyal customer base that is going to support your brand just like Apple Inc, then you will be able to approach a level of business steadiness that not many companies will ever think of. The first step you should take to attract audiences to becoming loyal customers is to offer discount coupons.
Create better shopping experience
If you want your customers to spend more, it’s important to make them feel good about themselves. Coupons are the way to do it. Because when customers use your discounts, they will end up feeling good about themselves because they are able to buy the things that they want at such a low cost – since they are smart shoppers to use your discount coupons. When you can make your customers feel this way, they will take down their guard and purchase more than what they plan before.
Customers can now easily find many amazing tips to hunt discounts and clearance sales, so that you need to make sure your coupons are valuable and worth their time.
Up-sell and cross-sell
Creating coupons strategically can help you to up-sell (offer a higher-priced product in the same category) or cross-sell (offer related products or services).
For instance, if you offer a $10 discount on the lowest-priced headphones in your electronics store, you can motivate customers to use the discount on more expensive, higher-quality headphones. Customers will still get the same discount but they will spend more money, which increases your profit. Or if you run a beauty salon, you can offer discount massages, every customer who uses this service will get a pedicure or manicure. This will encourage more people to use your service. If this works, your profit on the extra service may make up for the financial loss of the discount.