Want to get more people to pull the trigger on a purchase?
Give them a push with perfectly placed coupons! Coupons have a built-in visual appeal and an innate call to action. A coupon with a limited time offer adds a sense of urgency in a customer's mind for two reasons:
1. If they plan to buy something, they want the best possible price.
2. If they don't buy now, it might be out of stock (or full price again) later.
Why should you use coupons? Many reasons!
Coupon offers can make the difference between someone who's browsing and a purchasing customer.
Coupon offers are also a major incentive to drive traffic to your website. Besides stimulating sales of existing stock, coupons also generate cross sales between products and can energize your brand.
Building a successful coupon campaign may take some trial and error. Here are several action steps get you started:
The first step in coupon marketing is to track the performance of every campaign you launch.
If you run a small business, start by choosing one product and run 3-4 coupon specials from time to time. Feature the same product but vary the discount types, values, duration, and distribution methods. Experiment to see what works best for your business. From here you can carefully track and implement promotions that are consistent with your budget and are strategically aligned with your marketing strategy.
Set goals with your coupons.
Do you want to entice first-time buyers, increase purchase volumes, or get more traffic in stores? Without a clear strategy, you can't measure your effectiveness or tailor your promotions.
For example: when appealing to new customers, an open return policy can prompt more people to buy. When upselling current clients, offering companion discounts (like buy one, get one 50% off) can be especially tempting.
Highlight Cross Promotions
Almost every business has a niche, and coupons can help you expand influence in your corner of the market.
For example, camping outfitters that specialize in lightweight tents have customers who need compression sacks to carry them and portable camp chairs to accessorize. Having a coupon combo on all three items may entice shoppers to purchase more than one type of product.
Place Coupons Where Customers Will Find Them
How will you tempt shoppers to purchase: through direct mail, in your newsletter, or with an on-site purchase incentive?
Here are a few strategies for getting coupons in their hands:
- Offer a $15 onsite coupon if a customer buys at least three products.
Mail a $5 gift card that can be used if a customer purchases two items this month (spending a minimum of $50).
- Offer an additional 20% off if a customer buys anything from the same product category within the next two weeks.
- When a customer purchases an item for the first time, offer a 25% off coupon for those who leave a review or give their personal information. 43% of consumers will exchange their personal data with companies to save money through personalized promotions, discounts, or deals!
Remember, people buy with their eyes, so your promotion needs to catch attention. Need ideas? Our design specialists can help you generate a coupon that screams "use me!"
Spread the Love
Coupons can help almost every business type and size if you are intentional and consistent.
Coupons are highly visible and shareable, creating urgency and brand awareness. Best of all, everyone loves a deal, so a smart offer can go a long way in creating satisfied customers!