Coupons are an excellent tool for retaining your existing customers and for new customer acquisition. According to Alex Papaconstantinou, the founder of coupon site
www.wikigains.com, up to 95% present day shoppers like coupons, which explains why many business owners are actively investing in coupon marketing.
However, how much business you’ll attract from your coupon marketing strategy largely depends on how effective your coupons are. So here are 12 ways for effective use of coupons in promoting your business.
1. Use specific and commanding headlines in bold
This way, your coupons will be noticed more easily. For instance;
“Buy 1 Dinner Entree, Get 1 Free!”
“Save 30% On Any Nutrition Supplement!”
Visit Wikigains to see more examples like this.
2. Make solid offers
– Give discounts such as “40 Off!” or “$35.00 Off!” often, Dollars Off discounts attract are a little more effective than percentage discounts.
– Offer bonuses like “Buy 1…Get 1 Free!” or “Buy 2L of Super Paint…Get 500ml Free!”
– Offer premiums for, say, a presentation, a subscription, a trial, new customer referral, a demonstration, or for orders above a specified amount of money.
– Give free information. For instance, “FREE Brochure,” “FREE Booklet,” or “FREE Consultation.”
3. Your logo should appear in the coupons
The use of your logo will raise your brand and company awareness and build its identity, lend credibility to the offers, enhance your image and improve response.
4. Appeal to your customer’s self-interest
Customers are only interested in what you can offer them. Therefore, they’re going to buy your products for the benefits they’ll provide them, not the product or service themselves. Keep that in mind when creating coupons. You can see examples of effectively created coupons on Wikigains.
5. Use line photographs or illustrations
They aid understanding, create desire and enhance credibility. Illustrations are especially great when showing products in-use.
6. Be keen in your choice of words
Utilize these 18 most powerful marketing words effectively: free, save, now, money, guarantee, simple, results, fast, new, easy, how to, you, love, proven, sex, profit, amazing, and discovery.
7. Sell the benefits
For instance, your coupon should talk about how to save money, increase profits, save time, be happier, convenience, increase your comfort and health, etc.
8. Use the white space effectively
Do not clutter and do not cram. Point out specific information (like the benefit). Don’t try giving too much information on the product. Be simple and creative, says Alex from Wikigains.
9. Bundle your offers to build margin
Use your coupons to generate profitable foot traffic. You could, therefore, give your customers discounts when they buy an item plus another profitable accessory and at full price.
10. Always up-sell
Be sure to offer extras when customers place orders or request for information. For instance, suggest related items and point out the new features (with more benefits) of a higher-priced item.
11. Spread your special products around
This involves setting up your displays in a way that forces your customers to walk the whole expanse of your shop. Exposing them this way will significantly increase “impulse” buys.
12. Do not stop after the sales
Follow a continuous customer follow-up program. Use new catalogs, product brochures, more coupons, customer appreciation events, etc. This way, you’re sure to have repeat business.
Capture customer information (name, telephone no., email address)
Finally, here is one more tip. Wikigains suggests that you use coupons to develop your customer list, which is a valuable asset for any business owner.
Your greatest profit potential lies in your customer database!