Coupon Marketing – The ultimate guide for small to medium businesses
Coupons are an effective way to attract new or existing customers for your business. There are various ways a business can distribute and market coupons. They can be distributed via TV ads and radio; but these ways can be costly especially for a small business owner. However, with advanced technology, advertising a business has become a lot easier and cost effective; such as placing advertisements in newspapers, magazines or on the web.
Coupon marketing isn’t just a method to satisfy the deal hunters in your life. It’s an imperative method to drive new customers to your business.
Before you dive in the world of online coupon service providers to create coupons for your business, you need to understand the goal of coupon advertising.
Are you striving to draw in new customers or retain the existing ones? Coupons enable you to be more specific, unlike a sale where you mark down your products for everyone. They allow you to target a particular group of customers, competitors, events and products.
Let’s have a look at the most common coupon marketing goals:
To remain in the competition
At times, coupon marketing is simply mandatory. Online stores usually need coupons to remain in the competition with giants like Amazon and eBay. However, for businesses like a pizzeria, users might just expect to find coupons in the deal booklet or a local newspaper.
To foster existing customers to buy more
Providing occasional discounts can foster your existing customers to buy more from you. The biggest advantage of offering coupons to them is that they are usually motivated by small discounts.
To draw new customers
Well, this is the most common reason to create, distribute and market coupons. Offering a heavy discount certainly bring new customers through your door, or to your website. Businesses often risk attracting deal hunters with no intent of becoming consistent customers and thus they risk losing money from existing customers.
Thanks to the internet and coupon creating services, it has become relatively easy to design your own business coupons. They should always be exclusively designed considering the interest of the targeted customer. ImWithBob outlines helpful guidelines for effective couponing. Also, they must always include an expiration date. These dates are added to give customers a sense of urgency. If the coupon is valid for months, the customer is more likely to forget about it. Businesses are advised to use specific and bold headlines and always have your brand logo somewhere on the coupon. Never clutter or cram the information, and images are always an amazing addition.
This article is from www.makandracards.com