One of the oldest marketing tricks to boost the sales of a brand is to come up with a special deal. If people learned that they could buy a product or avail a service at a fraction of its original price, they would flock to the brand’s website to find out how to take advantage of the deal. It is also the same principle used in coupon marketing campaigns. It utilizes the edge of the consumers’ interest in saving a significant amount of money on their purchases.
Traditionally, consumers get coupons through the mail, or they can cut it out from magazines or newspapers. Today, brands distribute their coupons through emails or dedicated websites like Couponism, where they can get a wide variety of coupons in one place.
While customers enjoy the discounts brought about by coupons, businesses can also take advantage of this marketing strategy to boost their sales and create brand recall. As a result, it can also allow them to have more loyal customers. If you are operating a business and want to implement a coupon marketing strategy, here are several tips that will make your scheme stand out against your competitors.
Tip #1: Implement Single-Use Coupons And Promo Codes
Generally, coupon marketing strategies use a promo code to function and provide discounts to customers. The standard way to implement it is to come up with a generic set of promo codes for all the coupons. For example, each coupon will provide a 50% discount for a pair of jeans. It could be an excellent way to attract new customers to try out your products at a lower price.
Tip #2: Personalize Your Coupons
While customers would enjoy getting special offers and discounts from any brand, they would better appreciate it if you provide them with personalized offers and allow them to get more from your business. Based on a recent study, 79% of customers claimed that they would only deal with brands offering exclusive promos patterned after their previous transactions, meaning that they want to get offers explicitly made for them.
For example, you can send them a unique birthday discount or celebrate their first transaction by slashing the price using an “anniversary” discount. These gestures will make them feel valued. As a result, it will increase their chances of responding to your offer.
Tip #3: Develop A Sense Of Urgency
If you provide your target customers an unlimited time to avail of your special offer, they would less likely respond to your call-to-action upon receiving your coupon or promo code. No matter how irresistible your offer is, the customers will still wait until they receive their next paycheck or find a valid reason to take advantage of your promo. Eventually, they will forget about it and neglect to give your exclusive deals a try. But if you make them think that they only have a few hours to avail your jaw-dropping discount, they will immediately jump into action.
You may foster a great sense of urgency by using time-limited generic promo codes that would expire after a specific timeframe. For example, post a coupon on the sites like Couponism that is valid only for 30 minutes after posting or from the time the customers opened the email. It will encourage customers to use the discount immediately.
Tip #4: Collaborate With Influencers
Since more than half of the people across the globe are active in social media, you can utilize this popularity to increase the chances of marketing your brand. You may reach out to any popular social media influencers who could promote your ongoing coupon deals. According to another study, 90% of customers put their trust in brands that their peers recommend. It could include the recommendations from the people close to their hearts.
These people do not have to be celebrities or people who they normally see on TV or any social media platforms. Some can be the brand’s loyal customers who may use the power of their words to testify about what they like about your product. These influencers can talk about your upcoming special promos in their post so more people can see it.
Making your coupon discount special and unique could be a challenging task, but it can also be a rewarding one if you know how to maximize it for the growth of your business. With the help of this marketing strategy, you will be able to increase your sales and grow your reputation in the fastest possible time.