No One Can Resist A Coupon!
By Crystal Pope
Coupons have proven to be effective for every size and type of business. It’s no surprise that coupon usage has increased over the past several years. Advertising Age reports that 87% of all shoppers are using coupons. Implementing a coupon strategy into your marketing campaign will provide access to new customers and steadily increase sales.
Coupons are an excellent addition to any marketing campaign. They are inexpensive, easy and allow you track redemption. They give you the chance to see how well an ad or campaign is performing, and provides you the opportunity to see what demographics are responding. This allows you to, later; refocus your marketing to those who are most likely to respond.
The purpose of a coupon is to bring in customers to spend more than the incentive cost of the coupon. Coupons increase product sales and bring in new customers. The lifetime value of a customer is well worth the coupon cost.
How to integrate coupons into a successful marketing strategy:
Target – Use targeted lists and send the right offer to the right person, at the right time
Make a solid offer –Offer discounts, bonuses and free information. Dollar-off discounts work better than percentage discounts. FREE is the key! The word “free” almost always increases response rate in advertising.
Create urgency – limit the time frame, make the offer “exclusive” and provide a clear plan of action.
Test, test, test! – As with any marketing strategy, trial and error is inevitable. Test your coupon amount and frequency to determine what drives the best response and highest return.
Need help with integrating coupons into your marketing? Call us at 1.800.287.5710 — we’re here to help!