According to
the Consumer Preference Index (CPI) poll, the demand for
coupons is incredibly high. In fact, 96 percent of respondents said they
clip or print coupons, with more than 62 percent doing so at least once
a week and 38 percent clipping or printing even more frequently. In
addition, 51 percent said they redeem almost all coupons they gather.
1. Increased Traffic
Introduce your business to new customers and send a reminder to your
existing customers, driving traffic back to your store, office or
website. Coupons give both current and prospective customers a
reason to choose your business over the competition.
Online coupons can also translate to offline activity. According to
the poll, 66 percent of consumers polled said they plan to use
their online coupons for in-store purchases. Ten percent will use
the coupons while shopping online, and 23 percent will use coupons
for both venues.
Tip: Email coupons can help drive customers into your
physical stores during these last weeks of the season.
2. Increased Sales and Repeat Sales
Remember, when customers visit your store, office or site to redeem
a coupon, they will very likely buy more given the discount. Plus,
both new and existing customers may be motivated to try a new
product or service they would not have considered otherwise.
Tip: To up the ante, consider increasing the coupon
discount for multiple purchases (e.g. Save $25.00 on a $100.00 or
more purchase, $50.00 on a $150.00 or more purchase and $100.00 on a
$200.00 or more purchase).
3. A Larger Email Marketing List
Make collecting the email address a part of redeeming your coupon by
adding a line for the customers email address on the coupon and/or
asking the customer to sign up for your email list at checkout.
Place your email list signup prominently on your website and collect
opt-in email addresses from new visitors who click-through from your
coupons.
4. Viral Marketing
Take advantage of word-of-mouth referrals by encouraging your
customers to forward your coupons to interested friends or family
members. Especially in this season of gift giving, people feel good
about being able to pass savings along to friends and family.
Failing that, you can appeal to your customers year-round desire to
be in the know. People love to be the ones with the inside scoop
and the ability to pass on a good deal to their friends.
5. Increased Customer Loyalty
Make your customers feel special. Develop stronger relationships
with your customers by offering them added value, letting them know
how much you appreciate their business. Keep their minds on you, and
they'll forget about the competition.
6. Affordability
Save your marketing dollars! Emailed coupons are far less expensive
than traditional coupon advertising because they require no
production expense or mailing costs. For example, coupon inserts
into newspapers typically cost about $45 to $55 CPM plus printing,
while an email marketing campaign including the same coupon can cost
as little as pennies on the dollar.
7. Targeting
According to the poll, about 32 percent of coupon users said they
would like to receive coupons online in the future -- especially via
email (21 percent). And that number jumps to almost 55 percent if
online offers were specifically tailored to consumer's interests.
Tip: Targeting with email is a piece of cake! For example,
take a recent campaign, look at who clicked on which links, and
email a coupon to that targeted group for a certain percentage
discount. This is just one of the many ways you can segment your
list for better targeting.
And finally, give your customers a truly valuable offer. Make it
worth their while to shop at your place. You can use
online coupons to offer savings of money (e.g. a dollar amount or a
percentage off), time (e.g. free shipping or gift wrapping) or to
promote any aspect of your business. For example: a restaurant may
offer a "Buy one entrée and get the 2nd at half price." A B2B
consultant may offer a Free 30-minute consultation. A retail or
online store may offer "$25.00 off any purchase of $150.00 or more.
It’s winter - some of the slower seasonal months are
coming. While you may use coupons to get a greater market share of
spending now, remember that coupons can bring you great
results all year round!