The best way to grab your customers attention is by presenting an amazing discount. You can Increase traffic to your business with effective coupon marketing!
When Should You Create a Coupon for Your Customers?
With the competition in business becoming the toughest of all times, one of the best ways to attract the attention of potential customers is by providing considerable discounts on your products. Whether you own a store that sells goods or a company that sells services, customers will be lured into buying your products by the huge discounts provided because its always their desire to get quality products at an affordable price. Coupons may bring about the desired results of growth and profit in your business, but if not used effectively, they may prove to be more costly than the profits reaped. Therefore, you should be very careful when making coupons for your customers.
You should know when and how to create and post discount coupons to your customers. Therefore, the only time you should create coupons is when you want to reward your customers or during slow business hours. Don’t create coupons just to generate foot traffic, otherwise customers will visit your store only when there’s a local deal, and eventually shift their focus away from your products. When your customers get accustomed to your local deals, you won’t be able to make great sales regardless of quality services that you provide.
When and How to Create a Coupon for Your Customers?
This first thing to do before creating coupons for your customers is to come up with a plan for your business. Take into consideration the days your business will most likely benefit from a local coupon. You must know that your business will make losses or operate under a limited profit margin, but, you need to take it as an investment. As a general rule; a business must invest in product promotion to attract the attention of new customers. Coupons are the best way to get customers talking about your local business and its products.
Aim at Making Regular Customers
As a business owner, you should always reward your regular customers like never before. This is because they buy your products regularly and also help in marketing them. Any successful business enterprise is one that’s reputable, and if a customer likes your products, they’ll probably tell others, and the cycle is continuous. Therefore, it’s not just a discount coupon that will market your product but also its quality. You should always aim at transforming new customers into regular customers. In so doing, the sky will be the limit for your business establishment.
Create New Customers
Now that you’ve learnt the importance of regular customers to your business, it’s a great thing not to underestimate new customers. One way of attracting new customers to your business is by providing outstanding discounts. Again, they might have heard about your products from other customers. So, the key to getting new customers is by selling quality products at affordable prices.
Avoid Impulse Shoppers
There’s every chance that you’ll have a customer who’ll make a last minute decision to visit your store. However, it’s advisable not to get used to that group of customers because they’ll only generate much traffic without necessarily buying anything for your business.
Next Question is what channel to use to distribute the coupons
There are several options, some prefer using newspaper inserts, leaflets inserted into the folds of a newspaper, some prefer using promoting the coupon in local coupon booklets, you have to look out for a local Yellow Page or a specific Coupon Book that is being regularly published in your business catchment area.
Some simply highlight specific coupon codes in print advertisements or web advertisements, each one of the above methods have its own reach, cost involvement and conversion rates, for example web coupons do not always work for brick and mortar stores, although there are several augmented reality options these days like QR code, but these are not easy to manage, let us now break away a bit and look at a very effective but not so popular option.
Yes, don’t you have coffee joints in your locality? not the big ones, the regular corner shops, or coffee vans? these are the most visited place near you, and if you can cut a deal with them, or sponsor a lot of 5000 cups for them, provided they allow you print a perforated coupon promoting your deal on their cups, you effectively reach out more people, not just more people, more local people, people who might be benefited by having your service at their door step.
Often people do not even know that they have a nice service/seller right round the corner and keep travelling far to get the same service, if you can reach your local population, you possibly get a much authentic and eager customer base than promoting yourself to a wider audience as available in a Yellow Pages or Coupon Book or a Web Directory or Advertising Networks!
So think about this amazing new product called Coupon Cups, the next time you are planning to run a discount coupon or any other coupon promotion,