Coupons have been a powerful marketing tool for many years and their value as an effective tool in marketing a business is without dispute. The economic crisis that began in 2008 has given rise to increased use of coupons and the invention of the deal or daily deal program. Because the economic crisis hit such a broad segment of the population, the use of coupons by businesses and consumers has not only increased, but any stigma that was associated with coupons has all but disappeared. Best of all, the way we get our coupons has moved from the newspapers and mailbox to the web and our phones. The economic crisis, boom of smart phone use and the rise of the daily deal companies like Groupon have made coupons almost vogue and a necessity in today’s business world.
Coupons are a tremendous marketing tool for all businesses that are looking to increase customers, traffic and brand awareness. Even if you sell a product or service that doesn’t lend itself easily to coupons, you can take advantage of the messaging opportunities that a coupon offers. Whether you are a pizza shop with great carry out offers on Tuesday or an insurance agent representing a company that offers multi-policy discounts, you can use coupons as a messaging tool and direct traffic driver.
Even if your business is very successful, coupons can be a great resource for increasing your bottom line without losing revenue from your existing customers. Coupons allow you to write very specific offers that can effectively market a segment of your business, like a specific product or service, or drive traffic to a particular location or time. A very busy restaurant still has slow days or times in their schedule, how about offering early bird specials or mid-week happy hour specials? A retailer with great traffic would still benefit from turning over old inventory or increasing per ticket averages by offering deals on the second or third item purchased. Coupons can be very specific marketing messages that can drive new customer traffic, increase per ticket averages, increase traffic on off days, times or last season’s products and, best of all, even if people don’t use your coupon, they will see your message, remember your brand and your business will remain in the forefront of their minds between visits.
Getting started with coupons is easy…first, start with a great offer!
- Offer Discounts…”$50.00 Off!”, “60% Off!” (percentage discounts are only good when they are high percentages and the value of the product or service is well known.) Dollars Off discounts work best.
- Offer Bonuses…”Buy One/Get One Free!”, or “2 Free with Each Case Ordered!”, “Free Batteries When You Buy One Super Flashlight”, or “Free Drop Cloth with Each Gallon of Super Paint”, etc.
- Offer Premiums…Offer premiums for a presentation, for a trial order, for a subscription, for a demonstration, for a new customer referral, for an order amounting to $xxx or larger”, etc.
- Offer Free Information…”FREE booklet”, “FREE brochure”, “FREE estimate”, “FREE details”, “FREE samples”, “FREE trial”, “FREE consultation”, “FREE quote”, etc.
Use Bold, Commanding And Specific Headlines!
- “Save $50.00 on Any Portable TV….This Month Only!”
- “FREE BROCHURE…’Beauty Secrets for Career Woman’!”
- “Free Catalog Saves YOU 70% on Office Supplies!”
- “Rent Two NEW RELEASE Video Movies–Get One FREE!”
- “Buy One Dinner Entree–Get One FREE!”
- “Buy Five Cases of Copier Paper–Get the Sixth Case Absolutely Free!”
Sell The Benefits.
- Save time, save money, increase profits, protect your family, improve your standard of living, be happier, improve your health, increase your income, and increase your comfort, more convenient.
Make Effective Use Of The 18 Most Powerful Words In Advertising.
- Free, now, new, how to, save, guarantee, money, easy, simple, you, proven, love, results, discovery, fast, amazing, sex, profit.
The final piece to coupon success is don’t stop! One of the biggest mistakes I see is that marketers run a coupon offer, and even if it is hugely successful, they stop. Why? If you target your offer and write a great coupon, the downside to customer redemptions is increased business and profits. Don’t stop reminding your customers how much they love you and how much you appreciate them…just write great coupons that will enhance your business and profits and reward customers and increase your brand awareness and everyone wins!