coupon

Why your business should be offering coupons to its customers

Offering coupons is an effective marketing strategy for a business. There are very few customers who want to pay the full price for products and services, so coupons can be a useful method for attracting more customers to your business. There are two main categories of coupons — physical coupons and digital coupons. You can introduce physical coupons in stores and digital coupons via marketing messages on a business website and through various promotional campaigns on social media. The coupons not only attract new customers but can also be an effective method when it comes to introducing new product lines. In this article, we will be discussing multiple reasons for offering coupons to your customers.

Attract Customers

Attracting both new and loyal customers and generating revenue continuously are vital concerns for any business. It is important for a business organization to have a loyal customer base that can help the business expand in the long run. Providing coupons is one incentive that can allure a larger following and increase customer engagement.

Physical and digital coupons can be distributed through different trade shows, events, festivals, and more. It’s quite simply giving out promotional material or a coupon code that can be redeemed for offline and online purchases. By giving away coupons, a business can enjoy the privileges of repeated buying, and that in turn generates more sales. Usually, people are reluctant to buy a product at full price, so adding coupon discounts enables them to pay less for an item and encourages them to later buy more to avail themselves of more discounts. Even a top online casino will usually offer new customers bonuses and promotions so that they can stay ahead in their competitive market.

Brand Awareness

Brand awareness is considered to be the first step of marketing and creates a strong base for acquiring customers in the future. It refers to the ability of people to recognize a product by its name or visual elements. Most customers are inclined to purchase a branded products when presented with discount coupons. A good coupon deal attracts more potential customers as it is circulated on various social media platforms by internet users. Not only does it help to attract new customers, but it broadens the brand awareness by sharing online. With a strong brand presence, customers will tend to recognize the brand quickly and be inclined to make use of the coupons.

Meet Goals

Every successful business aims to attain a higher volume of sales and maximize profit. Offering coupons is one of the most effective marketing strategies a business can have. Providing customers with attractive coupon discounts can effectively boost sales, increasing revenue while being that initial introduction of the product to new customers.

To meet the sales goal, a business can provide various coupon offers such as

  • holiday coupon offers for Christmas, New year, Good Friday etc.
  • special coupon discounts for loyal customers
  • discounted coupons on less popular products
  • first time shopping coupon for the fresh customers
  • regular coupon discounts that can be weekly, monthly or quarterly for product clearance.

All these coupons can repeatedly lure in customers, which in the long run creates customer loyalty.

Higher Sales

Coupons are not ordinary discounts, there is much more to them. It helps a business to expand market share, increase sales volume and create a loyal customer base. These are the ways to use the coupons more efficiently to increase the sales of a business:

  • Convincing new visitors to purchase products is one of the hardest tasks of a business house. Once they have purchased a product, you can build trust to get them to come back. Providing coupons with discounts can attract customers to buy again.
  • When there are coupon discounts available, people tend to spend more money than they would have without it, as they use the money they saved using the coupon on other available products. This can increase sales excessively since it may trigger impulse purchases.
  • When specific items of your business do not perform as expected, ‘Buy 1 Get 1 free’ coupons can prove beneficial. This type of coupon not only increases sales but also gets rid of less popular items.

Coupons will always give you that edge over competition that you are looking for, so make sure to use them at times when competition may not be offering any.

Conclusion

Coupons are undoubtedly an attractive way of boosting sales volume and generating greater profit. Including it with the marketing mix can quickly build a strong customer base. Coupons do a great job supporting the efforts of quality products and fair pricing when there is acute competition in the market. Before providing coupon discounts, it is really important to plan well and make a budget accordingly. A smart coupon strategy can deliver a superior experience to a customer to go along with your high-quality product.

About the Author

Helen Miller

Helen Miller is a freelance writer at CouponKirin. She covers personal finance topics in a syndicated column that appears in Financial Planning Magazine. Her work has been featured by Market Watch, Digital Journal, Chicago Tribune, USA Today, and Yahoo Finance. Helen has a bachelor’s degree in finance from the University of California, Los Angeles.