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After a coupon campaign has been developed, you have to turn your attention towards distribution and marketing. How can you effectively distribute enough coupons to ensure your campaign is effective? Well, thanks to a variety of different online and offline channels, you have some flexibility.
Once synonymous with newspapers, magazines, and postcards, coupons are now frequently shared and accessed via social networking sites like Twitter, Facebook, and Pinterest. As a business owner, it’s important that you recognize this fundamental shift and study the rise of social coupons if you want your business to stay on the forefront of progressive marketing and advertising.
The Social Media-Coupon Relationship
When you look at where digital coupons have come from and where we are today, it’s clear that social media had – and continues to have – a major impact on how coupons are accessed, shared, and used.
Think back to a time before social networking sites like Facebook, Twitter, and Pinterest ruled the internet. Websites such as RetailMeNot.com were kings of digital coupons. They controlled the curation and distribution of coupons. If a company – physical retail or ecommerce – wanted to share an online coupon, they needed to either partner with one of these websites or post the deal on their own website in the hopes that it would generate enough traffic to be successful.
Now, fast-forward to the proliferation of social networking and you begin to see just how quickly and significantly the digital coupon industry has changed. Now, all businesses have to do is share a coupon with their followers, ask their customers to do the same, and their deal is in front of thousands, or even millions of savvy consumers. This viral nature of social media means digital coupons are more powerful than ever.
When you’re a consumer packaged goods (CPG) company, your entire business revolves around developing, manufacturing, distributing, and marketing excellent products. The CPG industry sees some of the fiercest competition of any on the market, which means such firms need excellent marketing and distribution strategies to beat the hundreds of other companies doing the same thing.
Most CPG companies have considered offering coupons to boost brand awareness at some point. If you’re unfamiliar with the practice, it can seem daunting at best. To help you make the right choice for your company, we’ve compiled a list of advantages and disadvantages to using coupons.
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.
