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When appropriately used, coupons are one of the most effective marketing and sales strategies a company can implement. They encourage new customers to make a purchase, instill loyalty in existing customers, and may even reactivate dormant customers. However, simple mistakes can render a coupon campaign useless. Even worse, a big mistake may damage your company’s image altogether. So how do you ensure you’re using safe and effective coupons that prosper, not harm your business? (more…)
The use of coupons from a retail standpoint is often disputed. Many feel that it’s a waste of money, while others believe it’s the key to their retail success. There’s probably truth to both statements, depending on varying business strategies and coupon use. Those who believe that coupons are an important key to retail success have experienced many of the benefits of coupons from a retail standpoint, including:
On the flip side, many businesses that have not had success with coupons believe that they can actually reduce your incoming revenue stream. In some rare cases, coupons can cause businesses to lose more than they gain. Usually, this is a result of poor strategizing or marketing rather than a bad coupon.
No matter what businesses believe about coupons, there’s one mantra that can’t be disputed: Coupons entice consumers to spend more money. Ever since the first Coca Cola advertisement, the use of coupons has evoked a certain pull towards a business that customers can’t deny, bringing them into your store and getting them to purchase more items than originally planned. Here are just a few ways that you can use coupons to entice your customers to spend more.
Coupons have been around for decades, and they aren’t likely to go away anytime soon. The balanced value they provide for both retailers and consumers is a proven marketing tool. However, like all such tools, they have to evolve with the times, and the future is looking more pixelated than ever for coupons.
From clipping coupons in the Sunday paper to employing email coupon codes, consumers have seen coupons change a lot in recent years. Though the money-saving aspect will remain rewarding for consumers, the distribution and delivery has evolved considerably.
Hundreds of websites that follow the model of Groupon.com and Coupons.com are devoted to sharing both manufacturer and retailer coupons with the thrifty customer. Thanks to digital coupon codes, shoppers can present coupons for redemption through their smartphones. The moment consumers were empowered to submit coupons on their mobile phones without having to print them outwas the point when digital couponing took off. According to one study, mobile coupons were used more than 5 billion times in 2012, and that number has since doubled.
Mobile coupons are bigger than ever, and they’re only expected to grow, thanks to some of the new technology being generated for virtual coupon exchanges. The future of coupons lies firmly in the digital realm, and if you’re thinking of usingthis kind of special offer for your business, here are the details you should weigh.
Manufacturer coupons, store coupons, digital coupons, printable coupons, Catalina’s, hangtags, blinkies, peelies, buy-one-get-one, 10 percent off….oh my! From a retailer’s perspective, coupons can be confusing and intimidating. And if you look at it from a top-down view, that’s probably true. However, coupon campaigns really aren’t that difficult to understand. You simply need to know what the different types of coupons are, which will work for your business, and which are irrelevant.
9 Types of Coupons You Need to Know
Do you need a primer on the different types of coupons in circulation? Not a problem, we’ve got you covered. The following list contains nine of the most common coupons currently being used in 2015.
Companies that don’t currently use coupons typically stay away for one of two reasons. They either don’t understand how the coupon process works, or they’re afraid of developing a culture of discounting with their customers. While both of these reasons are very real, they’re ultimately pretty weak excuses for avoiding coupons. By understanding how coupons work and the value they add to your business, you can build successful coupon-based campaigns that increase conversions and drive sales.
Many small business owners are intimidated by the thought of coupons. It’s just another item to add to the agenda and further complicates bookkeeping. They’ve also heard scary stories about the disadvantages and “real costs” of these discounts. And while coupons aren’t right for every business, most can benefit from a carefully planned coupon campaign.
Coupons have a long storied history in the United States, but did you know that it all started with one Atlanta businessman’s offer for a free glass of Coke? And despite the fact that it reportedly took another 22 years for another company to offer a discount, couponing eventually caught on and spread like wild fire. Now the total value of coupons distributed in the United States is estimated to exceed $470 billion. So, how did we get from a glass of coke to an American obsession? Let’s take a look.
