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Benefits Of Coupons As A Marketing Strategy For Your Business

Everybody loves discounts. This is one statement that everyone irrespective of financial income would agree to. Research reveals that the highest use of digital coupons is from households whose income is more than $100k. A survey was conducted among 15,000 shoppers and the results showed that more than fifty percent of them use coupons when shopping. This is the reason why retailers, store owners and entrepreneurs as a whole make use of discounts when they see the need to clear their store shelves to make way for new arrivals, when products are not moving as fast as they want them to be or when sales are just becoming too slow. And, one of the most effective ways to do this is through couponing. If you haven’t tried using coupons for your business, now is the time to reconsider.

 Nowadays, coupons should be an indispensable part of your marketing strategy so that your business will be able to gain the following benefits.

It Increases the Number of Local Customers

The increased number of local customers is made possible because coupon websites usually have customer databases that can be thoroughly sorted out per location. The online deals or coupon codes that businesses have will be sent to subscribers within a specific location thus advertising to local audiences will also take place. As a result, those subscribers in your area will be aware of online coupon promotions and will be more likely to visit your business. As coupon experts from Dontpayfull state, if a customer’s experience becomes satisfying chances are high that they will also become repeat customers. Therefore, online deals offered via coupons can drastically improve the effectiveness of your company’s marketing efforts as it also increases the number of people who will be able to convert off your social media accounts, website, and email. 

Affordable Mass Exposure

Coupon offers can reach a lot of subscribers because these will be made visible to those who visit the coupon website. Some sites offer television advertising, along with this coupon marketing. If your business is not big enough to afford mass advertising, then coupons will be the best way to gain mass exposure. A coupon code is all you need to reach subscribers. One example is this Killstar coupon code.

Accelerating Word-of-Mouth Marketing

Coupon websites are also referred to by others as social coupon websites as it helps spread information via word-of-mouth. Some coupon promotions can even become viral especially if it is such a good deal that everybody would be talking about it. These are the kinds of coupon deals that people would love to post on their Facebook, Twitter, or Instagram account. 

Marketing Strategy Infographic

Boosting Brand Awareness

Coupons can greatly boost brand awareness as it quickly spreads the word about your products or services. These are very helpful especially if you are offering your services or products locally. If you have a home-based business or you are a freelance mechanic, coupons can be used to let your local audience know about what you are offering. Another way that coupons can boost brand awareness is to encourage your target market to sign up for your newsletters and email alerts. As a reward for signing up, they will be able to get a discount coupon instantly which they could use in their next purchase. Once they sign up for your newsletter and email alerts, they can be informed right away about new arrivals or new services being offered by your business. And, when these are accompanied by discount coupons, they will be tempted to visit your store or website and make that purchase or pay for your services. 

Attracts Old and New Customers

Coupon marketing can easily attract new customers and increase your sales. Every new customer is a potential repeat customer. Another good thing about it is that these new customers also give you another opportunity to turn them into people who will help you spread the word about the existence of your business or services. Online coupons also work well for previous customers who need to be reminded to come back and visit your online store or website again. Coupons also serve as a reward for your loyal customers who could turn out to be the champions of your business.

It Opens Up More Opportunities

A well-crafted coupon is designed in a way that will give you more chances to upsell or cross-sell. For example, a coupon that offers a $10 discount should not only allow customers to buy your low-priced products. But, it should also encourage them to buy one of your high priced products as well. In turn, your customers can use the same coupon but were able to spend more, and such can help increase your sales and profit. Another way to upsell and cross-sell is when a customer calls in to have her hair treated in your salon at a price that is $15 less. Once the customer comes in you may also offer her your other services such as a European facial or body waxing. This way, the money spent by the customer to pay for these extra services offered will be able to offset the loss of profit that you have on her $15 discount for hair treatment.  

It Leads to Higher Average-Order-Value

By rewarding your customers with discount coupons for making a certain amount of purchase, you will be able to increase the likelihood of having an increased average order value of your products and services. Coupons may also come in a form of cash-back points for loyal customers. Moreover, offering a discount coupon can help lower the prices of your products or services, making them look more attractive to your customers. If you offer a $15 discount for purchases worth $60 your customers will be more likely to spend more. So, instead of just deciding to buy $30 worth of products, the customer will add another $30 to her purchase to be able to redeem the $15 discount. Therefore, the customer’s average order value increases, along with your sales and profit. 

Couponing is not just a mere buzzword in today’s world. Its benefits have already been proven by many businesses. Its power to increase sales and profits has become one reason why you can find coupons for almost everything online. Coupons have become a significant factor in making final purchasing decisions among 65% of consumers. Therefore, if you want your business to reap the benefits of incorporating coupons into your marketing efforts, better get started now. 

After you create a coupon, you can use a press release distribution service to announce your promotions, and this will attract more customers to visit your website.


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Benefits Of Coupons As A Marketing Strategy For Your Business

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